Exchange Currency

New York Clearing House Association

The first clearing house organized in the United States (1853) for the purpose of establishing an orderly exchange and settlement process for New York City Banks. Prior to the establishment of the Federal Reserve System in 1913, It served in the capacity of a central bank for stabilizing currency fluctuations and managing the monetary system.

Related information about New York Clearing House Association:
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    Feb 2, 2010 ... The New York Clearing House Association is the oldest and largest bank clearinghouse in the United States.