Central Banking

Thailand and Hong Kong launch cross-border settlement scheme

commemorative-thai-baht

The Bank of Thailand (BOT) and the Hong Kong Monetary Authority (HKMA) today announced a cross-border payment versus payment (PvP) link between the Thai baht real-time gross settlement system (Bahtnet), and Hong Kong's US dollar real-time gross settlement system (USD RTGS system), will be set up in 2014.

The agreement marks Hong Kong's – and Asia's – third cross-border PvP arrangement to date, following previous deals with Malaysia in 2005 and Indonesia in 2010.

RTGS systems facilitate large-sca

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