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Clearing House Automated Transfer System

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.[1] 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.[2]

  1. ^ "Financial Services" (PDF). Information Services Department, Hong Kong SAR. November 2007. Retrieved 15 September 2008.
  2. ^ "RTGS Payment Systems". Hong Kong Trade Development Council. 6 July 2006. Retrieved 15 September 2008.

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