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'''Clearing House Automated Transfer System''', or '''CHATS''', is a [[Real Time Gross Settlement]] system for the transfer of funds in [[Hong Kong]]. It is operated by [[Hong Kong Interbank Clearing Limited]], a private company jointly owned by the [[Hong Kong Monetary Authority]] and the [[Hong Kong Association of Banks]]. Transactions in three currency denominations may be [[Settlement (finance)|settled]] using CHATS: [[Hong Kong dollar]], [[euro]], and [[United States dollar|US dollar]]. |
'''Clearing House Automated Transfer System''', or '''CHATS''', is a [[Real Time Gross Settlement]] system for the transfer of funds in [[Hong Kong]]. It is operated by [[Hong Kong Interbank Clearing Limited]], a private company jointly owned by the [[Hong Kong Monetary Authority]] and the [[Hong Kong Association of Banks]]. Transactions in three currency denominations may be [[Settlement (finance)|settled]] using CHATS: [[Hong Kong dollar]], [[euro]], and [[United States dollar|US dollar]].<ref name="HKFacts">{{cite web|url=http://www.gov.hk/en/about/abouthk/factsheets/docs/financial_services.pdf|title=Financial Services|publisher=Information Services Department, Hong Kong SAR|format=PDF|month=November|year=2007|accessdate=2008-09-15}}</ref> In 2005, the volume of Hong Kong dollar CHATS transactions averaged HK$467 billion per day, which amounted to a third of Hong Kong's annual [[Gross Domestic Product]] (GDP); the total volume of transactions that year was 84 times the GDP of Hong Kong.<ref name="EconForum">{{cite web|url=http://info.hktdc.com/econforum/hkma/hkma060701.htm|title=RTGS Payment Systems|publisher=Hong Kong Trade Development Council|date=2006-07-06|accessdate=2008-09-15}}</ref> |
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==References== |
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Revision as of 15:35, 15 September 2008
Clearing House Automated Transfer System, or CHATS, is a Real Time Gross Settlement system for the transfer of funds in Hong Kong. It is operated by Hong Kong Interbank Clearing Limited, a private company jointly owned by the Hong Kong Monetary Authority and the Hong Kong Association of Banks. Transactions in three currency denominations may be settled using CHATS: Hong Kong dollar, euro, and US dollar.[1] In 2005, the volume of Hong Kong dollar CHATS transactions averaged HK$467 billion per day, which amounted to a third of Hong Kong's annual Gross Domestic Product (GDP); the total volume of transactions that year was 84 times the GDP of Hong Kong.[2]
References
- ^ "Financial Services" (PDF). Information Services Department, Hong Kong SAR. 2007. Retrieved 2008-09-15.
{{cite web}}: Unknown parameter|month=ignored (help) - ^ "RTGS Payment Systems". Hong Kong Trade Development Council. 2006-07-06. Retrieved 2008-09-15.