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    Question

    The term CHIPS stands

    for:┬а
    A Clear house interested payment system Correct Answer Incorrect Answer
    B Clearing home interbank payment system Correct Answer Incorrect Answer
    C Clearing house interbank payment system Correct Answer Incorrect Answer
    D Clearing house intrabank payment system Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    The Clearing House Interbank Payments System (CHIPS) is the primary clearing house in the U.S. for large banking transactions. As of 2015, CHIPS settles over 250,000 of trades per day, valued in excess of $1.5 trillion in both domestic and cross-border transactions.

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