The Governor of the Bank of Canada has designated, effective 2 May 2016, the Automated Clearing and Settlement System (ACSS) for oversight under the Payment Clearing and Settlement Act (PCSA) as a clearing and settlement system that has the potential to pose
payments system risk.
These reforms, together with the introduction of laws to facilitate electronic processing of cheque clearance in the mid-1990s, have also helped to promote greater reliability and efficiency in the
payments system.
Federal Reserve staff, for the
Payments System Development Committee Federal Reserve System
Thinking of setting up an electronic
payments system for your overseas business activities?
vice chairman of the Federal Reserve Board, "and we believe the results clearly paint a picture of a
payments system in migration.
Bettge will oversee the division's
Payments System Risk, FR Bank Financial Accounting, FR Bank Planning and Control, Oversight Coordination, and Audit Review Programs.
I welcome this opportunity to discuss the
payments system and the Federal Reserve's role in it.
But no bank has turned in its charter in order to operate without the cost of banking regulation, which would require that it operate also without deposit insurance or access to the discount window or
payments System.
The Federal Reserve has played an integral role in the nation's
payments system since the System's inception.
