rocki, decision day re LVTS is Thursday
MEDIA ADVISORY - Canada's New Electronic Funds Transfer System to be Announced
Press Briefing
Canadian Payments Association
January 28, 1999 at 10:00 a.m.
National Press Club, The Library, 2nd Floor
Ottawa
OTTAWA, January 25 /CNW/ - Members of the media are invited to attend a
press briefing being held by the Canadian Payments Association (CPA) on
Thursday, January 28, 1999, to announce a new electronic funds transfer system
for large-value or time-sensitive payments. The briefing will take place at
10:00 in The Library at the National Press Club, 150 Wellington Street,
Ottawa.
The Large Value Transfer System, or LVTS, will offer financial
institutions and their clients certainty of settlement on the same day for
every payment received, and will make a significant contribution to the
stability of Canada's financial system. The CPA will move to full operation
of the LVTS on February 4. The LVTS is expected to process an average of
13,000 payments totaling more than $100 billion per day.
The CPA will issue a press release on January 28 at 10:00 a.m. The CPA
Chairman, Board Members and staff will be available to answer questions during
the briefing. Background information on the operation of the system is posted
on the CPA web site at www.cdnpay.ca (What's New).
For further information: Wendy Hope, Director, Communications and
Education, CPA, (613) 238-4173 (ext. 240)
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Here's information on the system itself from the CPA's web site.
cdnpay.ca |
