Is there anybody out there? Detecting operational outages from LVTS transaction data

Published: February 25, 2020

Payments Canada has released its latest discussion paper, Is there anybody out there? Detecting operational outages from LVTS transaction data. As an operator of Canada’s systemically important payments system directly overseen by the Bank of Canada, it is important that Payments Canada be able to quickly identify outages in a timely manner and provide a detailed understanding of the drivers behind those outages. By providing an understanding of the structure of payment flows between banks, the research carried out in this paper helps Payments Canada define and calibrate metrics to enhance ongoing operational monitoring and risk management. Whilst the analysis in the paper focuses on the LVTS, the enhanced operational outage monitoring metrics and algorithm can also be built into real-time monitoring dashboards designed around Lynx, the new real-time gross settlement payments system Payments Canada will be acquiring through the Modernization project.