What are the payment and clearing institutions?

Shanghai Gold Exchange, Networked Clearing Co., Ltd., Fujian Huatong Bank Co., Ltd., Fujian Strait Bank Co., Ltd., Longjiang Bank Co., Ltd., Nanyang Rural Bank Co., Ltd., Beijing Yinshang Rongxin Payment Technology Co., Ltd., Beijing Yirui Xinchuang Technology Co., Ltd. and Japan International Credit Card Company Beijing Representative Office became members of China Payment and Clearing Association.

I. Clearing institutions

Liquidation institutions are responsible for the management and execution of liquidation, and the regulations vary from country to country. Western countries and some developing countries often designate the central bank as the competent bank of the agreement, and then the central bank authorizes commercial banks to handle specific settlement business. The central bank is responsible for the balance of payments of foreign exchange in the payment agreement, determining the currency of accounting, opening a clearing account, and specifying the amount of account swing. , while commercial banks handle the specific settlement methods under this agreement, such as the opening of letters of credit, payment, letter of credit arrival notice, document negotiation, settlement and remittance, remittance and non-trade payment settlement. Eastern European countries and most developing countries generally designate specialized foreign exchange banks as clearing institutions, which are not only responsible for the implementation of payment agreements, but also for specific clearing business. The clearing institution in China is the People's Bank of China.

Second, the principles of clearing institutions

Clearing houses generally implement membership system, and members must abide by the articles of association and operating rules and pay membership fees. In many countries, the central bank is usually the main member of clearing institutions and directly participates in clearing and payment activities; In other countries, the central bank does not directly join the organization of clearing institutions, but supervises and audits them and provides clearing services for financial institutions. Major clearing institutions in various countries usually own and operate payment systems, and realize clearing through the operation of payment systems. In addition, clearing institutions in different countries are different in terms of operators and business scope:

Both private and government or monetary authorities are established; Both local and national; There are associations and organizations that only provide domestic clearing services, as well as international clearing services, and so on.