When crisis began, the frangibility of bank endangered the normal operation of the payment and clearing system, which resulted in credit and confidence collapse.
危机发生后，银行脆弱性直接危害了整个支付与清算系统正常运转，造成连锁反应式的信用恐慌与崩溃。
The local clearing system then sorts out the instruction and sends them to each beneficiary bank in batch files containing all the individual payment instructions.
然后，本地的清算系统把各种支付指令归类，用包含全部单独支付指令的批量文件把这些只发送到每一家收款银行。
DVP settlement through clearing agents should be made via the agents' clearing accounts in the Payment System.
清算代理行代理券款对付的资金结算时，应通过其在支付系统的清算账户进行。
DVP settlement through clearing agents should be made via the agents' clearing accounts in the Payment System.
清算代理行代理券款对付的资金结算时，应通过其在支付系统的清算账户进行。
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