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The 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 (HKICL), a limited-liability private company jointly owned by the Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks.
The system was implemented by the Hong Kong Monetary Authority and operated by Hong Kong Interbank Clearing Limited (HKICL). It was launched for pre-registration on 17 September 2018. [ 7 ] Transfers and payments is available since 30 September 2018.
An automated clearing house (ACH) is a computer-based electronic network for processing transactions, [1] usually domestic low value payments, between participating financial institutions. It may support both credit transfers and direct debits .
Hong Kong's Faster Payment System (FPS) has surpassed 700,000 transactions a day just over three years after its debut, showcasing one of the ways the city is seeking to innovate as a financial ...
Hong Kong: CHATS (Clearing House Automated Transfer System) Hungary: VIBER (Hungarian: Valós Idejű Bruttó Elszámolási Rendszer; Real-time Gross Settlement System) Georgia: GPSS (Georgian Payment and Securities System) [21] India: RTGS [22] Indonesia: BI-RTGS (Bank Indonesia Real Time Gross Settlement Sistem) Iran
The move has drawn widespread criticism in Hong Kong and abroad: governance advocate and board member David Webb said that the government was the second-largest single investor in the Hong Kong market after Beijing, with a portfolio of local equities estimated to be worth about HK$150 billion.
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