Information > Financial Terms > This page

Source: Encyclopedia of Banking & Finance (9h Edition) by Charles J Woelfel
(We recommend this as work of authority.)

This term has two meanings:

1.  In banking practice, checks, drafts, matured acceptances, notes, etc., presented for
     collection through a clearinghouse.

2.  The English term for the market for foreign currencies and bills of exchange.  What is known   in the United States as foreign exchange is known in England as foreign exchanges.

Back to Information