By-law No. 7 Respecting the Large Value Transfer System
Version of section 53 from 2010-03-01 to 2022-05-31:
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.
- SOR/2010-43, s. 12(F)
- Date modified: