but mis-expressed myself. Let me try to think this through. The "clearing of payments" is the ability to transfer, in the general case "currency" (value, liquidity, whatever one wants to call it) from one deposit to another (or one account to another, to use a different noun). In general the deposits ("accounts") are in different banks.

For that trust from bank to bank is necessary. The first bank needs to be sure the second bank it transfers the money to is solvent, lest the money disappear (?), and it gets sued by the depositor...

As you can see, I do not know the official linguo too well, and I think its overabundance is actually confusing. That is why I tried to stay close to the concept of deposit.

it seems to me that if a deposit (=account) disappear, the bank has failed in its most basic function. The clearing of payments is from account (=deposit) to account, so it requires the sanctity of accounts first. That is what I tried to say (certainly awkawdly).

PA

Patrice Ayme Patriceayme.com Patriceayme.wordpress.com http://tyranosopher.blogspot.com/