A financial network established in 1980 to operate a national clearing and settlement system.
An association that operates a national clearing system for financial institution payments. This association is comprised of several financial institutions in conjuntion with the Bank of Canada. Click here to visit website.
This association operates a highly automated national clearing system for interbank payments which reduces costs and increases the efficiency of the clearing system in Canada. Members include chartered banks, trust and loan companies and some credit unions.
The CPA is a not-for-profit organization created by an Act of Parliament in 1980. The Association's mandate, as amended through the Canadian Payments Act in 2001, is: (i) to establish and operate national systems for the "clearing and settlement" of payments and other arrangements for the making or exchange of payments, (ii) to facilitate the interaction of the CPA's systems with others involved in the exchange, clearing and settlement of payments, and (iii) to facilitate the development of new payment methods and technologies. You find out more about the Canadian Payments Association by going to the CPA website .
This association, which is composed of several financial institutions and the Bank of Canada, operates a national clearing system for financial institution payments.
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.