Central Banking

Hong Kong and Malaysia look to reduce risk

The Hong Kong Monetary Authority and Bank Negara Malaysia looked to eliminate the settlement risk of US dollar bonds issued and traded in Malaysia with the launch of a payment link on Monday.

The cross-border delivery-versus-payment link will be between Hong Kong's real time gross settlement platform and its Malaysian counterpart, the Ringgit system.

The central banks said: "The settlement services provide the necessary infrastructure to support potential issuance of US dollar bonds in Malays

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