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Citibank appointed custodian for HKMA's US Treasuries

The Hong Kong Monetary Authority (HKMA) has appointed Citibank its custodian for US Treasuries on behalf of the Central Moneymarkets Unit (CMU), a central custodian and clearing system for debt instruments operated by the HKMA.

Citibank's appointment comes as the CMU introduces a clearing, settlement and custodian service for US Treasuries, which will enable investors in Hong Kong and other parts of Asia to settle US Treasuries during Hong Kong hours.

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