Hong Kong Interbank Clearing Limited (HKICL)

Hong Kong Interbank Clearing Limited (HKICL) is a private company jointly owned by the Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks (HKAB). HKICL was established in May 1995 to take over in phases the clearing functions provided by the former management bank of the Clearing House, The Hongkong and Shanghai Banking Corporation Limited, and the process was completed in April 1997. HKICL provides interbank clearing and settlement services to all banks in Hong Kong and operates a central clearing and settlement system for public and private debt securities on behalf of the HKMA.