Which of the following is an institution created to facilitate the exchange of checks and drafts drawn by banks on one another, as well as to enable banks to settle their daily balances?

Question

Quizplus · Accepted Answer

A clearinghouse is specifically designed to facilitate the exchange of checks and drafts among banks, allowing them to settle their daily balances efficiently. This process ensures that transactions are completed smoothly and that banks can reconcile their accounts with each other.

Which of the Following Is an Institution Created to Facilitate