The Monetary Authority of Macao announced that the Hong Kong Dollar Real-time General Settlement System (澳门港元即时支付结算系统), which was launched on October 19th, recorded a total of HKD9.4 billion worth of transactions occurring in a single day. The system is currently being used by 28 local banks. Most large-sum transactions in Macau are settled in Hong Kong dollars. The system was built to support immediate settlement services for interbank fund transfers in the neighboring region’s currency.