What is an ‘On-Us Item’
An on-us item is a check or draft that is presented to the bank where the check writer has the funds on deposit. The check can be cashed or deposited into another account. Of course, the drawing account must have a sufficient balance to pay the check.
Explaining ‘On-Us Item’
On-us items can also be electronic debits or transfers. As with checks, electronic on-us items refer to the drawing and paying accounts at the same bank. The on-us checks are also referred to as “house checks.”
Further Reading
- The adequacy of the data on US international financial transactions: a Federal Reserve perspective – ideas.repec.org [PDF]
- The economics of technology and employment – ideas.repec.org [PDF]
- The economic versus accounting impacts of R&D on US market-to-book ratios – papers.ssrn.com [PDF]
- An analysis of the relevance of off-balance sheet items in explaining productivity change in European banking – www.tandfonline.com [PDF]
- Impacts of the US trade and financial sanctions on Iran – onlinelibrary.wiley.com [PDF]
- Global financial reporting: Implications for US academics – meridian.allenpress.com [PDF]
- Securitization and risk: empirical evidence on US banks – www.emerald.com [PDF]
- Reciprocity and retaliation in US trade policy – ideas.repec.org [PDF]
