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Investing Glossary:
Clearing House Automated Payments System (CHAPS)
Copyright 2010,
Campbell R. Harvey. All Rights Reserved.
Do not reproduce without explicit permission.
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| Term: |
| Clearing House Automated Payments System (CHAPS)
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| Definition: |
| A computerized clearing system for sterling funds that began operations in 1984. It includes 14 member banks, nearly 450 participating banks, and is one of the clearing companies within the structure of the Association for Payment Clearing Services (APACS).
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