BoJ prepares to link settlement system with Hong Kong

The connection will provide a new pathway for Japanese banks to obtain Hong Kong dollars and cut the exchange-rate cost

Making connections: the Bank of Japan aims to implement the delivery-versus-payment link by 2021

The Bank of Japan has said it will start preparing its financial system in fiscal year 2018 for the implementation of a cross-border settlement link with the Hong Kong Monetary Authority (HKMA), in an effort to reduce settlement risk between the two markets.

The BoJ announced on April 10 that work is to get under way to link the Japanese government bonds service (BoJ Net) with the Hong Kong Dollar Clearing House Automated Transfer System (HKD Chats), the real-time settlement system for

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