Procedure Rules of Asian Clearing Union (ACU)

The participants will permit the banks in their respective countries to maintain ACU dollar, ACU euro and ACU yen accounts with their correspondent banks in the other participating countries. All payments other than ineligible payments will be settled by the banks concerned through these accounts. The operations on these accounts shall be governed by the prevailing Exchange Control Regulations and such other directions, rules, regulations or guidelines as the participants may issue or specify from time to time.

[See the full post at: Procedure Rules of Asian Clearing Union (ACU)]