December 3, 2002 The Bank of Canada today announced that it is maintaining its target for the overnight rate at 2 3/4 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 3 per cent.
December 2, 2002
Change to Bank of Canada Interest Rate Spread for Items Cleared through the Automated Clearing Settlement System (ACSS)The Canadian Payments Association introduced the Large Value Transfer System, an electronic system for the transfer of payments, on 4 February 1999. Virtually all of the value of public sector payment flows and most payments related to wholesale market transactions now move through the LVTS.