Euro CHATS
Euro CHATS is structured similarly to USD CHATS. Its clearing house is also a commercial bank, Standard Chartered Bank (Hong Kong). Participating banks may obtain intraday liquidity via an overdraft facility provided by Standard Chartered Bank. Like USD CHATS, banks in Hong Kong are not required to participate in Euro CHATS. Euro CHATS has two categories of membership, Direct Participants and Indirect CHATS Users; they function in the same manner as the categories in USD CHATS. The volume of transactions in Euro CHATS in 2007, in raw number of transactions, totaled at 18,169. The total value of all transactions conducted in the same year was about €280 billion. As of 25 August 2008, Euro CHATS has 30 Direct Participant member banks and 20 Indirect CHATS User member banks.
Read more about this topic: Clearing House Automated Transfer System
Famous quotes containing the word chats:
“Expecting me to grovel,
she carefully covers both feet
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She pretends to hide
a coming smile
and won’t look straight at me.
When I talk to her,
she chats with her friend
in cross tones.
Even this slim girl’s rising anger
delights me,
let alone her deep love.”
—Amaru (c. seventh century A.D.)