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… retail batch payment system is made up of the Automated Clearing Settlement System (ACSS) and United States Bulk … directly or indirectly to these systems securely via the Canadian Payments Association Services Network (CSN). ACSS … clears paper-based and electronic payments. * Canadian dollar only. Paper-based Cheques Paper remittances* …
… two or more parties. For ACSS, it means the payment of clearing balances. … Settlement …
… perspective, this means any day other than an Automated Clearing Settlement System holiday. … Business Day …
… … Expanded real-time payment participation Once the Canadian Payments Act is amended to expand access to … that use the Real-Time Rail to offer new products to Canadian businesses and consumers New participation Expanded access through changes to the Canadian Payments Act will allow more regulated entities …
… and the separate entry of batch totals into a separate clearing system. … Decentralized Batch Retail Systems …
… framework in Canada. An open banking framework would give Canadians more control over their financial data, enabling … policy.[4] But things are beginning to change, and Canadian policy-makers are taking note. The Department of … financial services. While open banking could one day bring Canadians outside their banks and to the marketplace for …
… the CPSS/CPMI and IOSCO for regulating payment and security clearing and settlement systems. … PFMI …
… at the Bank of Canada, or by each indirect clearer with its clearing agent(s), for the purpose of settlement. … …