CHIPS Definition

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CHIPS is Clearing House Interbank Payment System. A computerized payment system for clearing checks in New York.

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BALANCE SHEET is an itemized statement that lists the total assets and the total liabilities of a given business to portray its net worth at a given moment of time. The amounts shown on a balance sheet are generally the historic cost of items and not their current values.

EURO is a currency of selected European Union countries.

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