Large Value Transfer System


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Large Value Transfer System

An electronic system allowing Canadian banks to transfer large amounts of funds instantaneously. The banks may use the LVTS on behalf of clients, but perhaps the most common usage is the transfer of funds for short-term loans between banks, including the Central Bank of Canada. Importantly, LVTS transfers are irreversible so as to reduce the possibility of fraud and other risks.
References in periodicals archive ?
Robert Hammond, General Manager of CPA, stated that: "the Large Value Transfer System is a mission-critical component of the Canadian Payments Association's operations.
DMR is pleased to announce that is has been awarded contracts to develop the Large Value Transfer System for the Canadian Payments Association (CPA) and to operate and maintain the system for a five-year period.
to build, and operate over a five-year period, this country's first, fully-electronic Large Value Transfer System (LVTS) for the clearing and settlement of payments involving large sums of money.
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