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… for Real-Time Rail participants wishing to obtain a settlement account. The Real-Time Rail access model … choose between participating directly or indirectly in the settlement of their payments. … The Real-Time Rail is a … pay, credit-risk model with the Bank of Canada as the settlement agent, and a Real-Time Gross Settlement model. … …
… volume requirement on the automated clearing and settlement system. People's Trust was the first indirect … became a Payments Canada member and was granted a direct settlement account at the Bank of Canada. What new … it. And then subsequently in late 2022, we applied for a settlement account at the Bank of Canada for the upcoming …
… portal. All of this happens in a matter of seconds. Settlement of funds happens later, but both consumer and …
… and inclusivity to Payments Canada and the clearing and settlement system for our membership and more broadly for … recently became a participant on our Automated Clearing Settlement System, ACSS. The system that processes the vast … faster data-rich 24/7, 365 payments, our core clearing and settlement payment systems need to keep pace. Which is what …
… they are on the ACSS side, that's our automated clearing settlement system side, the retail payments side. We … our systems are designated under the Payments Clearing and Settlement Act , the Bank of Canada needs to provide their …