What is forextradingtime cashback forex funds forex trading session times Foreign exchange funds clearing is the process forextradingmarket method of international settlement and payment between international and domestic banks through the account and the relevant currency transfer system, which is used to finally settle the debts of both sides The characteristics of foreign exchange funds clearing 1. The final settlement of foreign exchange funds in the country where the currency is located large foreign exchange funds often through the commercial banks or central banks in the country where the currency is located to complete the payment of clearing 4. the intermediate links of foreign exchange clearing, generally with a charge credit notice or debit notice of the accounts, and then periodically check the reconciliation of foreign exchange funds clearing composition of foreign exchange funds by the foreign interbank foreign exchange funds clearing, domestic interbank This chapter will mainly introduce this business process and its accounting methods. The head office of the bank and domestic branches, sub-branches and foreign branches, sub-branches, the head office of the centralized write-off, the regular settlement of exchange differences between the way to deal with the liquidation of funds between each other according to the different regions, interbank transactions are divided into Hong Kong, Macao and foreign interbank transactions and national interbank transactions (b) clearing center account transactions clearing center account transactions, refers to the bank system, the head office, branches, sub-branches set up at all levels of clearing center, in the clearing center to open a current account. (c) foreign correspondent bank correspondence foreign correspondent bank correspondence, refers to the bank selectively signed agreements with foreign banks, the establishment of current accounts, through the accounts opened in foreign banks and foreign banks opened in our accounts, the use of a clearing method, the liquidation of funds with foreign interbank transactions ( (D) foreign correspondent banks and clearing systems combined as a result of participation in foreign exchange funds clearing banks correspondent bank network size back in the correspondent banks own network can not complete the clearing, with the help of foreign correspondent banks local clearing system to jointly complete the local clearing system of the international common currency countries in dealing with the local currency of their banks clearing at the same time, in the international scope for international banks to handle the currency of the clearing services such as the U.S. dollar FEDWIRE clearing system for the U.S. dollar, CHAPS clearing system for the British pound, and CHATS clearing system for the Hong Kong dollar The following two types of correspondent bank accounts and clearing systems are combined: 1. direct exchange type: the creditor and debtor banks to participate in the clearing of the account bank is not the same bank, but the account bank is a large bank and the local central bank or clearing center to open an account, can directly participate in the exchange　　2. Indirect exchange type: the creditor and debtor banks to participate in the liquidation do not have accounts in the same bank, and do not have accounts in the local central bank or clearing center, so they need to entrust the local clearing bank to clear the foreign exchange funds clearing system In order to ensure the timely, accurate and complete clearing of foreign exchange funds, domestic financial institutions have formed the existing foreign exchange funds clearing system in accordance with different clearing regions, clearing objects and clearing channels. The existing foreign exchange fund clearing system is formed according to different clearing regions, clearing objects and clearing channels (a) According to different clearing regions, it can be divided into domestic fund clearing and overseas fund clearing; domestic foreign exchange fund clearing can be divided into co-city foreign exchange fund clearing and foreign exchange fund clearing (b) According to different clearing objects, it can be divided into central bank foreign exchange fund clearing, overseas interbank foreign exchange fund clearing, domestic (3) According to the different clearing channels, domestic foreign exchange funds clearing can be divided into intra-system interbank clearing, clearing center account clearing, extra-system mutual account clearing or local clearing center clearing; overseas foreign exchange funds clearing can be divided into overseas branch clearing, foreign correspondent bank (account bank) clearing, foreign local clearing institutions clearing foreign exchange funds The clearing system is shown in the figure As can be seen from the figure: a foreign exchange business from the occurrence to the end of funds clearing, often need to involve a number of links, both domestic and foreign, both within the system, but also between the interbank, with many links, currency, risk, high requirements of the characteristics of foreign exchange funds clearing accounting accounts At present, the domestic banks dealing with foreign interbank transactions mainly use the "deposit interbank At present, domestic banks dealing with foreign interbank transactions mainly use the detailed account of "deposit with foreign interbank" established under the account of "deposit with foreign interbank", the detailed account of "deposit with foreign interbank" established under the account of "interbank deposit", and the detailed account of "clearing funds". The "Foreign Interbank Deposits" account is a secondary account for interbank deposits, which accounts for the funds deposited with foreign correspondent banks. The debit side reflects the amount of money deposited by domestic banks to foreign correspondent banks, and the credit side records the amount of drawdown, with the balance on the debit side, reflecting the balance of money deposited by domestic banks to foreign correspondent banks. The balance at the end of the period is debited, reflecting the balance of foreign banks deposits with banks in China. The account is a common category of assets and liabilities, and is also a secondary account under the account of "liquidating funds". The balance should be reflected in the debit and credit sides respectively in the year-end statement of accounts. Reflect