In France, the truncation of interbank
exchanges of means of payment, initiated at the start of the
80s, was completed in 2002 with the generalization of Truncated
Cheque exchanges. By means of this process, all so-called bulk
means of payment are exchanged and settled via the Interbank
Teleclearing System (SIT).
An active member of the Banking Community, the GSIT (French
Interbank Teleclearing Economic Interest Grouping) is a
recognized expert on the national, European and international
The SIT is the European leading automated bulk clearing house in terms
of volumes handled (100% of the French interbank flows,
representing 20% of the European flows of means of payment).