Question
Clearing House Interbank Payment System (CHIPS)
Answer :
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The Clearing House Interbank Payments System (CHIPS) is a privately operated, real-time electronic payment system primarily used for large-value domestic and international U.S. dollar transactions. It plays a critical role in international business finance by facilitating secure, efficient, and timely settlement of cross-border payments between financial institutions. Operated by The Clearing House in the United States, CHIPS is considered one of the most significant private-sector payment systems in the world, processing over USD 1.5 trillion in payments daily. CHIPS operates on a net settlement basis, which significantly reduces the amount of liquidity
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