Financial System
Payments and other clearing and settlement systems
The Canadian Payments Association
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Presentations |
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| Presentation | "Introduction of LVTS in Canada", C. Goodlet, May 1999. |
| Summary | The LVTS is a real-time, electronic transfer system that processes large-value or time-critical payments continuously throughout the day. The system began operations on February 4, 1999. The presentation discusses: the motivation in building the LVTS; some design features of the LVTS, including measures to reduce risk; the use of collateral; and some issues that have arisen since the start-up of the LVTS. The presentation also discusses how the LVTS, which is a multilateral deferred net settlement system, achieves the same desirable outcomes (such as intraday finality of payment) that are provided by a well-designed RTGS system, but with relatively lower collateral costs.
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