By-law No. 7 Respecting the Large Value Transfer System
Version of section 53 from 2006-03-22 to 2010-02-28:
53 (1) After the end of the inter-participant payment message exchange period set out in section 8, the Bank of Canada shall make a single credit entry or, to the extent that funds are available in a participant’s settlement account, make a single debit entry to the settlement account of each participant to settle each participant’s multilateral net position.
(2) Settlement of a participant’s multilateral net position shall not be effected until settlement of the multilateral net positions of all participants can be effected.
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