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What is Clearing House Automated Transfer System mean?
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, a private company jointly owned by the Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks. Transactions in four currency denominations may be settled using CHATS: Hong Kong dollar, renminbi, euro, and US dollar. In 2005, the value 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 value of transactions that year was 84 times the GDP of Hong Kong.
reference| Full Form | Category |
|---|---|
| Creating Healthy Attitudes Through Sharing | Community |
| Community & Home Assistance to Seniors (covering York Region and south Simcoe County) | Community |
| Clearing House Automated Transfer System | General |
| COUNTER-INTELLIGENCE/ HUMAN-INTELLIGENCE AUTOMATED TOOL SET | Governmental |
Posted on 06 Oct 2024, this text provides information on Miscellaneous in General related to General. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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