ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -An act of Congress directed the Secretary of Transportation to establish the Clearinghouse. The Clearinghouse enables employers to identify drivers who commit a drug and alcohol program violation while working for one employer, but who fail to subsequently inform another employer (as required by current regulations).

Detailed explanation-2: -A clearing house is an intermediary between buyers and sellers of financial instruments. It is an agency or separate corporation of a futures exchange responsible for settling trading accounts, clearing trades, collecting and maintaining margin monies, regulating delivery, and reporting trading data.

Detailed explanation-3: -The check will move from the deposit bank to the drawing bank as part of the check clearing process. The process starts when a check is deposited to a bank. The bank will then set about contacting the drawing bank. The check is cleared when the depositing bank has received the check and funds from the drawing bank.

Detailed explanation-4: -Clearing house funds are monies that pass between Federal Reserve banks and regular banks in the form of personal or business checks prior to credit approval. These funds are in the process of clearing and reconciliation through a central processing system.