This section allows cross-market comparisons.
Glossary Definition
Automatic/Autopilot Adjustment Mechanism (AAM) (hongkong)

Used to maintain monetary stability under Hong Kong's Currency Board System. As banks sell USD to the HKMA, the inflow expands the Monetary Base, as the HKMA credits bank clearing accounts with HKD for settlement. Conversely, when banks sell HKD to the HKMA, the clearing accounts of these banks are debited by the HKMA,  and consequently, the Aggregate Balance and the  Monetary Base declines. Expansions (contractions) of the Monetary Base result in corresponding decreases (increases) in interest rates, putting into place the conditions under which market forces counteract the effects of  capital flows, restoring  exchange rate stability.