clearing house

clearinghouse

[kleer-ing-hous]
noun, plural clearinghouses [kleer-ing-hou-ziz] .
1.
a place or institution where mutual claims and accounts are settled, as between banks.
2.
a central institution or agency for the collection, maintenance, and distribution of materials, information, etc.
Also, clearing house.


Origin:
1825–35

Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
clearing house
 
n
1.  banking an institution where cheques and other commercial papers drawn on member banks are cancelled against each other so that only net balances are payable
2.  a central agency for the collection and distribution of information or materials

Collins English Dictionary - Complete & Unabridged 10th Edition
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Etymonline
Word Origin & History

clearinghouse
1832, from clearing + house. The original was established 1775 in London by the bankers for the adjustment of their mutual claims for checks and bills; later the word was extended to similar institutions.
Online Etymology Dictionary, © 2010 Douglas Harper
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