Based On The Notes Of Image Retention Liquidation

This paper mainly focuses on the check image truncations. Studying the current check clearing situations, considering the possibility of check truncating in our country, try to figure out a portable system architecture and the standards of financial data exchange. Currently in out country, paper checks are mainly used in a small city or around, and the paper checks are cleared by physically collecting the original paper checks, so the clearing efficiency also is low. Learning from the check clearing experiences of USA and Singapore, we can reform our traditional check clearing process by truncating the paper check image at the first back of deposit or the clearing House of People's Bank. Current Ticket Act in our country requires that only by after receiving the original paper check, can check be cleared. We can solve the problem by the agreement between banks involved. Such truncating of check images at the first bank of deposit or the People's Bank can shorten the clearing cycles and reduce the fees. By modifying the ANSI X9 check relating standards, such as ANSI X9.37, X9.46, X9.90 standards, we can figure out the exchange processes of paper check image with electronic data. Reference from the American Common Output Format, we can also get the financial data exchange format between banks in the check clearing processes after truncating the paper check.After truncating of check image, the paper can be used in wider area, so the clearing system can process more checks than now, the clearing cycle will be short. Such kind of reform in the check clearing process will solve current problem in our check clearing systems.