Domestic
PAYMENTS SIGNAL · REFERENCE CARDA Hong Kong CHATS payment (HKD RTGS)
A high-value Hong Kong dollar payment settles one-for-one across the banks' settlement accounts at the HKMA, individually and immediately — as long as the paying bank has the balance.
Actors
- Bank Alfa (paying bank)bank
- CHATS / HKICLinfrastructure
- HKMA (settlement)infrastructure
- Nordbank (receiving bank)bank
Messages
- CHATS payment instruction
- CHATS settlement confirmation
The sequence
| # | Step | Route | Kind |
|---|---|---|---|
| 1 | CHATS payment — Bank Alfa submits the payment to CHATS | Bank Alfa → CHATS | message |
| 2 | Check balance — CHATS checks the settlement-account balance | CHATS | internal |
| 3 | Gross settlement — The HKMA settles the payment individually | Bank Alfa → Nordbank | settlement |
| 4 | Confirmation — Nordbank is confirmed of the settled payment | CHATS → Nordbank | message |
| 5 | Book the funds — Nordbank books the funds | Nordbank | posting |
Exception rails
| Rail | Trigger | Where the money ends up | Next action |
|---|---|---|---|
| Not enough in the settlement account | Bank Alfa's settlement account at the HKMA does not hold HKD 8,000,000.00 at the moment the instruction is checked. | The beneficiary is paid only once Bank Alfa's settlement account holds enough to settle the queued payment. · Settlement waited on liquidity — the payment stayed queued until the settlement account was funded. | Bank Alfa — Bank Alfa manages its intraday liquidity so high-value CHATS payments do not stall in the queue. |