John Maynard Keynes had something similar in mind when he proposed an International Clearing Union.

ECONOMIST: Reserve currencies

At some point these trusts founded an organization called International Clearing Associates (ICA), a general partnership that takes cash from the trusts and lends it to other trusts and their companies.

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One clear difficulty springs up from the second invesigation to be conducted by the EC is that regulators had strived to have over the counter (OTC) derivative products settled through international clearing houses.

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And he wants to re-create Keynes's 1944 plans for an International Monetary Clearing Union.

ECONOMIST: John Maynard Keynes

They have also coaxed leading international banks into setting up a global clearing house to reduce the risk of loss should big foreign-exchange trades not be completed as the parties agreed.

ECONOMIST: Lenses of last resort

The International Cycling Union released a report in 2006 clearing him of allegations from 1999.

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Within its core functions, such as: laboratory of ideas, standard-setter, clearing house, capacity builder andcatalyst for international cooperation, UNESCO is playing crucial role in ensuring access to quality education for all in Member States.

UNESCO: OFFICE IN TASHKENT

Runway clearing work was being carried out at Aberdeen International Airport.

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