The customers of many banks in large cities may have their checks and drafts brought into a single system of book-keeping through a clearing house, which is simply a bank of banks.
It may also hold, as a part of its available machinery, clearing house certificates, which are statements of balances due in the daily settlement between the banks belonging to a clearing house association.
The purely city banks had associated themselves in a "Clearing House" certainly by 1776.
Clearing House, but the claims of the clearing bankers on the bank are forwarded direct to Threadneedle Street twice or thrice daily.
A clearing house, therefore, may be defined as a device to simplify and facilitate the daily exchanges of items and settlements of balances among the banks and a medium for united action upon all questions affecting their mutual welfare.
Hereafter, drafts drawn on the assistant treasurer at New York may be adjusted by him at the clearing house, and the balances due from the United States may be paid at his office in United States notes or clearing house certificates.
For New York City, the annual average percentage of reserves of Clearing House banks to net deposits varies from 24.
The "Clearing House Association" in your city is what might be called a Mutual Aid Society, which the banks have organized for purposes of mutual convenience and protection.
Clearing House, Bank Number Two could pay Bank Number One with Clearing House certificates instead of actual cash.
Members of the Exchange desiring to sell securities, but only in order to relieve the necessities of themselves or their customers, may send a list of same to the Committee on Clearing House, giving the amounts of securities for sale.
The above list will hopefully provide you with a few useful examples demonstrating the appropriate usage of "clearing house" in a variety of sentences. We hope that you will now be able to make sentences using this group of words.
