chips

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Related to Clearing House Interbank Payments System: Fedwire
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For thirty-one years the Clearing House Interbank Payments System (CHIPS) has been an industry standard for clearing international payments in U.
These transactions would typically settle over the books of domestic wholesale payment systems, such as the Clearing House Interbank Payments System (CHIPS) or Fedwire in the United States, and the new TARGET system for the euro.
The largest private DNS payments system in the world is the Clearing House Interbank Payments System (CHIPS) in the United States (see Tables 4 and 5).
In November 2011, the Federal Reserve Banks and The Clearing House will implement changes to the message formats for the Fedwire([R]) Funds Service (Fedwire) and Clearing House Interbank Payments System (CHIPS) respectively that will accommodate up to 9,000 characters of extended remittance (ERI) information.
This reorganization involves: The Clearing House, Small Value Payments Company (SVPCo), Clearing House Interbank Payments System (CHIPS), Electronic Payments Network (EPN), Electronic Clearing Services (ECS), and National Check Exchange (NCE).
Wholesale payments, which have been growing rapidly in recent years, move over two systems: the Fedwire electronic funds transfer system operated by the Federal Reserve and the Clearing House Interbank Payments System (CHIPS) operated by the New York Clearing House.
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