Clearing House Interbank Payment Systems (CHIPS)
nouncandidate·updated May 12, 2026
A "real time," multilateral, final payments system for large dollar value, business-to-business payment transactions between domestic or foreign institutions that have offices located in the United States. CHIPS is run by CHIP Co. LLC, a subsidiary of The Clearing House Payments Company, LLC.
Framework senses
Federal Financial Institutions Examination Council (FFIEC) IT Examination Handbook Infobase, Glossary1 senseview framework →
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- A "real time," multilateral, final payments system for large dollar value, business-to-business payment transactions between domestic or foreign institutions that have offices located in the United States. CHIPS is run by CHIP Co. LLC, a subsidiary of The Clearing House Payments Company, LLC.