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What does CHIPS stand for?

CHIPS stands for Clearing House Interbank Payments System

This definition appears frequently and is found in the following Acronym Finder categories:

  • Business, finance, etc.

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Other Resources:
We have 30 other meanings of CHIPS in our Acronym Attic

Samples in periodicals archive:

The private-sector New York Clearing House Association also operates the Clearing House Interbank Payments System (CHIPS).
EBA is similar to the Clearing House Interbank Payments System (Chips) and is likely to have a lower transaction cost per item than Target, although the pricing has not yet been agreed upon.
Wholesale payments, which have been growing rapidly in recent years, move over two systems: the Fedwire electronic funds transfer system operated by the Federal Reserve and the Clearing House Interbank Payments System (CHIPS) operated by the New York Clearing House.
Whether a wire transfer is made by the Federal Reserve wire transfer network (Fedwire), the New York Clearing House Interbank Payments Systems (CHIPS), or some other method, the procedure is relatively standard.