include fixed fee and fee per transaction. In many cases, fees per transaction are charged in multiple patterns. The fee per transaction ranges from USD 0.099 to 3.063. Table 3-36 Fee Structure for Large-Value Settlement System Country Large-Value Settlement System Fees (examples) Malaysia RENTAS Thailand BAHTNET Philippines PhilPaSS [Reference] CBM-NET Annual membership fee: MYR 15,000 (= USD 3,650) Interbank transfer (participating bank) MYR 2.5 (= USD 0.61) per transaction Notifications for deposits and withdrawals MYR 2.0 (= USD 0.49) per transaction Monthly fee: THB 3,500 (= USD 107) Per transaction fee Below 10,000 THB 25 (= USD 0.77) 10,000 - 30,000 THB 35 (= USD 1.07) Bulk Payment-Credit 100,000 or less THB 12 (= USD 0.37) 100,001 - 500,000 THB 40 (= USD 1.225) 500,001 - 2,000,000 THB 100 (= USD 3.063) PhilPaSS fee: PHP 5 (= USD 0.099) Back-end fee: PHP 50 (= USD 0.991) by Beneficiary Bank Initial Fee (one-time fee): 2,000,000 MMK Membership Fee (Annual fee): CBM-NET online: 1,000,000 MMK MCH: 500,000 MMK User fee of CBM-NET: 1,000 MMK per message Myanmar (Source: data obtained on each central bank's website by the survey team) According to the fee policy at the central bank in each country, fees can be collected for other transactions, such as government bond settlement and bill clearing, as well. The fee collection from users will partially recover operation and maintenance expenses, which will contribute to sustainable operation and maintenance of CBMNET. As of October 2017, the average transaction number (calculated from January to October 2017 based on the average of 20 business days a month) of fund settlement and customer transfer of CBM-NET was 100 transactions per day, which is 59.5% higher than 2016 (62.7 transactions per day, 12 months). For reference, the transaction in RENTAS (developed in 1999) which was increased 108