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Definition of clearing bank in English: clearing banknoun British A bank which is a member of a clearing house. Example sentencesExamples - The banking network in the UK is the result of years of evolution by the four main clearing banks.
- It is one of the smaller clearing banks.
- Much of the recommendations have been acted upon, and in the UK, the Financial Services Authority, Bank of England and clearing banks have all co-operated to raise standards of internal controls and compliance.
- The clearing banks make tens of millions of pounds every year from these delays.
- That has always been the situation with the universal banks of jurisdictions like Germany, but in England the clearing banks and merchant banks were for over a century institutionally separate.
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