4. Clearinghouse Associations. Associations like the New York Clearinghouse Association have played major roles in the international financial system for centuries. Use the following Web sites to prepare a two-page executive briefing on the role of clearing- houses in history and in contemporary finance. Use the Web site for the Clearing House Interbank Payments System (CHIPS) to estimate the volume of international financial transactions. New York Clearinghouse Association Clearing House Interbank Payments System www.theclearinghouse.org/ www.chips.org/