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Settlement in a third currency

A invoices in USD, B pays in HKD from a HKD account; the bank converts. A receives slightly less USD than invoiced.

What the agent does

  1. Match the HKD debit on B's statement to the USD credit on A's statement by date and reference
  2. Compute the implied bank rate and compare with the day's market rate
  3. Separate bank spread from FX movement and from any short-payment

What you get back

The receivable is cleared with the residual split into FX, bank spread (cited to the statement line) and short-payment if any.

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