Canadian Payments Association

Canadian Payments Association

The Canadian Payments Association (CPA) is a not-for profit association created in 1980 by an act of parliament, the Canadian Payments Act, to "establish and operate national systems for the clearing and settlement of payments and other arrangements for the making or exchange of payments" within Canada. The CPA is the regulatory body for the settlement and clearing of payments in Canada. The Minister of Finance is responsible for overseeing the operations of the CPA.

The Association facilitates the flow of funds between institutions and mitigates risk to participants in the payment system. They handle several transaction types including cheques, bills payments, and point-of-sale debits.

All banks operating in Canada as well as the Bank of Canada are required under the Act to be members of the payment system. Other financial institutions such as credit unions, trust companies, life insurance companies, and securities dealers are eligible for membership.

The CPA is very active: on average, some 20.6 million payment items, representing $164 billion in transactions, were cleared and settled through the CPA’s systems each business day during 2005. [http://www.cdnpay.ca/home/home.asp 1]

The CPA is also responsible for the Canadian Large Value Transfer System (LVTS) Network.

References

* [http://www.cdnpay.ca/ CPA Official Site]
* [http://www.cdnpay.ca/about/overview.asp About the CPA]


Wikimedia Foundation. 2010.

Игры ⚽ Нужен реферат?

Look at other dictionaries:

  • Canadian Soccer Association — CONCACAF Founded 1912 FIFA affiliation 1913 …   Wikipedia

  • Canadian and American health care systems compared — basis ($2724 and $2121 on a non adjusted basis); total U.S. spending was US$6096 vs. US$3137 (PPP) ($6096 and $3038 on a non adjusted basis).] Studies have come to different conclusions about the result of this disparity in spending. A 2007… …   Wikipedia

  • Canadian Federation of Students — Fédération canadienne des étudiantes et étudiants Founded 1981 Members 500,000 (est.) Country Canada …   Wikipedia

  • Vietnamese Canadian — ethnic group group= Vietnamese Canadians poptime= 151,410 [http://www12.statcan.ca/english/census01/products/highlight/ETO/Table1.cfm?Lang=E T=501 GV=1 GID=0] Statistics Canada, Census 2001 Selected Ethnic Origins1, for Canada, Provinces and… …   Wikipedia

  • Canadian Auto Workers — Full name National Automobile, Aerospace, Transportation and General Workers Union of Canada Founded 1985 Members 225,000 [1] Coun …   Wikipedia

  • Canadian Pacific Railway — Infobox SG rail railroad name=Canadian Pacific Railway logo filename=Canadian Pacific Logo 1996.png logo size=162 system map size=300 map caption=Canadian Pacific system map as of 2004 (does not include DM E and IC E trackage). old gauge=… …   Wikipedia

  • David Miller (Canadian politician) — For other people named David Miller, see David Miller (disambiguation). David Raymond Miller David Miller launching ICT Toronto 63rd Mayor of Toronto In office …   Wikipedia

  • New Brunswick Liberal Association — Active provincial party Leader Victor Boudreau (interim) …   Wikipedia

  • Comparison of Canadian and American economies — The economies of Canada and the United States are extremely similar because they are both developed countries and are each other s largest trading partners. However, key differences in population makeup, geography, government policies and… …   Wikipedia

  • Custom House (global payments) — Custom House Type Private Industry Financial Services Foreign Exchange Founded 1992, Victoria Customs House, Wharf St., Victoria, BC, Canada …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”