TOKYO -- The Bank of Japan will link its settlement system for Japanese government bonds with clearing systems at the Hong Kong Monetary Authority, making it easier for Japanese banks to raise Hong Kong dollars.
Under plans announced on Tuesday, the central bank will connect its BOJ-NET system's JGB services with the Hong Kong central bank's mechanism for clearing Hong Kong dollar trades. Linking these settlement schemes will let Japanese banks put up JGBs as collateral to obtain the Hong Kong currency.
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