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Clearing House Automated Transfer System

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This is an old revision of this page, as edited by HongQiGong (talk | contribs) at 17:11, 15 September 2008. The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

Clearing House Automated Transfer System, or CHATS, is a Real Time Gross Settlement (RTGS) 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 dollar amount 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

  1. ^ "Financial Services" (PDF). Information Services Department, Hong Kong SAR. 2007. Retrieved 2008-09-15. {{cite web}}: Unknown parameter |month= ignored (help)
  2. ^ "RTGS Payment Systems". Hong Kong Trade Development Council. 2006-07-06. Retrieved 2008-09-15.
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