An association of banks and other payors whose members settle accounts with each other on a daily basis is a:

Name: An association of banks and other payors whose members settle accounts with each other on a daily basis is a:
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A clearinghouse is an association or a group of banks and financial institutions that settle accounts and transactions with each other on a daily basis. It facilitates the exchange of payments, securities, or derivatives transactions.

An Association of Banks and Other Payors Whose Members Settle