NOUN | group | clearing house | a central collection place where banks exchange checks or drafts |
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Meaning | A central collection place where banks exchange checks or drafts; participants maintain an account against which credits or debits are posted. | |
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Broader | financial institution, financial organization, financial organisation | An institution (public or private) that collects funds (from the public / public or other institutions) and invests them in financial assets |
Spanish | cámara de compensación |
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