Home » Clearing House Interbank Payments System by Jesse Russell
Clearing House Interbank Payments System Jesse Russell

Clearing House Interbank Payments System

Jesse Russell

Published April 6th 2012
ISBN : 9785510868920
Paperback
126 pages
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 About the Book 

High Quality Content by WIKIPEDIA articles! The Clearing House Interbank Payments System (CHIPS) is the main privately held clearing house for large-value transactions in the United States, settling well over US$1 trillion a day in around 250,000MoreHigh Quality Content by WIKIPEDIA articles! The Clearing House Interbank Payments System (CHIPS) is the main privately held clearing house for large-value transactions in the United States, settling well over US$1 trillion a day in around 250,000 interbank payments. Together with the Fedwire Funds Service (which is operated by the Federal Reserve Banks), CHIPS forms the primary U.S. network for large-value domestic and international USD payments (where it has a market share of around 96%). CHIPS transfers are governed by Article 4A of Uniform Commercial Code.