get cleared definition Reverso

The check clearing process is governed by Regulation CC and the Check Clearing Act, also known as Check 21. Available funds are the funds available for a depositor to use at the time they deposit a check. The check clearing process begins when a person or business deposits a check into their bank account at a bank or credit union. The Fedwire Funds Service provides a real-time gross settlement system in which more than 9,500 participants are able to initiate electronic funds transfers that are immediate, final, and irrevocable. Depository institutions that maintain an account with a Reserve Bank are eligible to use the service to send payments directly to, or receive payments from, other participants. Depository institutions can also use a correspondent relationship with a Fedwire participant to make or receive transfers indirectly through the system.

This extends to the securities market, where the stock exchange validates the trade of the securities through to settlement. Clearing is the procedure by which financial trades settle; that is, the correct and timely transfer of funds to the seller and securities to the buyer. Often with clearing, a specialized organization acts as the intermediary and assumes the role of tacit buyer and seller to reconcile orders between transacting parties. Clearing is necessary for the matching of all buy and sell orders in the market. It provides smoother and more efficient markets as parties can make transfers to the clearing corporation rather than to each individual party with whom they transact. There are a couple rules in check clearing that are helpful to know.

Cleared Is Also Mentioned In

Noun banking, finance A process of exchanging transaction information and authorisation through a central institution or system to complete and settle those transactions. Noun A method adopted by banks and bankers for making an exchange of checks held by each against the others, and settling differences of accounts. Noun The exchange of checks, drafts, and notes and the settlement of consequent differences, especially among banks. Clearing is the process of reconciling an options, futures, or securities transaction or the direct transfer of funds from one financial institution to another. The process validates the availability of the appropriate funds, records the transfer, and in the case of securities, ensures the delivery of the security or funds to the buyer. When a clearinghouse encounters an out trade, it gives the counterparties a chance to reconcile the discrepancy independently.

• The clearing division of these exchanges acts as the middle man, helping facilitate the smooth transfer of funds.
• Clearing firms are typically big investment banks, such as JP Morgan, Deutsche Bank, and HSBC.
• The university has a limited number of clearing places this year.
• Similarly, when someone buys a stock, they need to be able to afford it.
• It involves the management of post-trading, pre-settlement credit exposures to ensure that trades are settled in accordance with market rules, even if a buyer or seller should become insolvent prior to settlement.

The check clearing definition pertains to the process of moving funds from one bank account to another bank account that is either held by the same individual or another unique holder. More specifically, a check from a deposit bank, or a banking institution where a check is deposited, is moved to a drawing bank from where funds are obtained through a process called the clearing cycle or via the clearing cleared def system. The process of check clearing or the check clearing cycle generally takes two to three business days to complete. Check clearing is the process of moving funds obtained via check from one account to another. More specifically, a check deposited at a deposit bank is moved to a drawing bank, or the location from where funds will be drawn, through a process known as the clearing cycle.

What Is Check Clearing?

Create a cell array, vars, that contains the names of variables to clear. Removes all variables that match any of the regular expressions listed. The mayor’s enormous financial advantage played a significant role in clearing the field, but Mr. Thompson, who could have sought a third term as comptroller, chose to challenge Mr. Bloomberg. Yes | No | Report from jamesti wrote 49 weeks 2 days ago look for the first place that the ice is clearing from the lake and start there. That was what he called clearing the field, and not leaving his antagonist a leg to stand on. Noun soccer The act of removing the ball from one’s own goal area by kicking it.

For example, when called from a function, clear global removes all global variables in the function and global workspaces, but not in the base workspace. Noun In English railway management, the act of distributing among the different companies the proceeds of the through traffic passing over several railways. The necessary calculations are made in the railway clearing-house in London. Among violent crimes, 64.8 percent of murder offenses were cleared, 40.3 percent of forcible rape offenses were cleared, 28.2 percent of robbery offenses were cleared, and 56.4 percent of aggravated assault offenses were cleared. Clearing is required in trading as trades and deals can happen quickly, at a much faster rate than they can be processed.

Related Words

To eliminate ambiguity or doubt from ; to clarify or resolve; to clear up.We need to clear this issue once and for all. To become free from obstruction or obscurement; to become transparent.When the road cleared we continued our journey. Since the mid-1980s, when Indonesia first began to clear its bountiful forests on an industrial scale in favour of lucrative palm-oil plantations, “haze” has become an almost annual occurrence in South-East Asia. The cheapest way to clear logged woodland is to burn it, producing an acrid cloud of foul white smoke that, carried by the wind, can cover hundreds, or even thousands, of square miles. To remove obstructions, impediments or other unwanted items from.Police took two hours to clear the road.

These examples are programmatically compiled from various online sources to illustrate current usage of the word ‘clear.’ Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Translucent implies the passage of light but not a clear view of what lies beyond. And broke the virgin land, toiled all days and all hours, paid their taxes, and sent their sons and grandsons out to fight and die for the flag that gave them such ample protection that they were able to sell their wine for twenty-two cents. Close your vocabulary gaps with personalized learning that focuses on teaching the words you need to know.

Word History

Noun UK The period in which remaining university places are allocated to remaining students. Noun In galvanizing sheet-iron, the operation of removing oxid from the surface of the plates under treatment by immersing them in muriatic acid. Noun In glass manufacturing, the keeping of molten glass in a thinly fluid condition, to permit impurities and all uncombined substances to separate and settle to the bottom, leaving the glass clear. Noun In calico-printing, the operation of removing superfluous dye from the cloth, by washing, treating with bran and soap, and grass-bleaching.

An example of a clearinghouse is the London Clearing House, which is the biggest derivatives clearing house followed by the Chicago Mercantile Exchange. Clearing firms are typically big investment banks, such as JP Morgan, Deutsche Bank, and HSBC. When an investor sells a stock they own, they want to know that the money will be delivered to them. Similarly, when someone buys a stock, they need to be able to afford it. The clearing firm makes sure that the appropriate amount of funds is set aside fortrade settlementwhen someone buys stocks.

In banking and finance, clearing denotes all activities from the time a commitment is made for a transaction until it is settled. This process turns the promise of payment into the actual movement of money from one account to another. Clearing houses were formed to facilitate such transactions among banks. The process of clearing ensures that the entities or parties engaged in a financial transaction are protected, receive their due amount, and the transaction goes smoothly. The clearinghouse acts as a third party or mediator for the transaction while the clearing process recordings the details of the transaction and validates the availability of funds. For futures and options, a clearinghouse functions as an intermediary for the transaction, acting as the implicit counterparty to both the buyer and seller of the future or option.

Clear does not interpret the name as a keyword in this context. For example, if the workspace contains variables a, all, b, and ball, clear all removes the variable all only. ✓✓ ✓Calling clear functions decreases code performance, and is usually unnecessary. Regular expressions matching names of variables to clear, specified as one or more character vectors or string scalars. Global variable, then clear removes it from the current workspace, but it remains in the global workspace.