Positions of members of Payments Canada with the Bank of Canada (formerly B3)

View monthly data, or download the latest weekly or monthly data. For metadata and background information, see the notes.

Weekly data typically published on Fridays by 14:30 ET. Monthly data typically published by 14:30 ET on the Friday following month end.

Weekly Series

Weekly Wednesday, Millions of dollars1 2CANSIM2020‑10‑212020‑10‑282020‑11‑042020‑11‑112020‑11‑18
Total overdraft loans
Total amountV4183839100000
Days transactedV4183839200000
Total positive balances
Total amountV418383931,479,1481,491,4931,514,3231,188,1851,510,670
Days transactedV4183839455545
Special deposit accounts
Total amountV4183839500000
Days transactedV4183839600000

Monthly Series

Month-end, Millions of dollars1 2CANSIM2020‑062020‑072020‑082020‑092020‑10
Total overdraft loans
Total amountV41838377165846190
Days transactedV4183837815310
Total positive balances
Total amountV418383795,613,7015,655,4586,240,4346,835,8606,356,286
Days transactedV418383802222212121
Special deposit accounts
Total amountV4183838100000
Days transactedV4183838200000

Notes

Source: Bank of Canada

Positions of members of Payments Canada with the Bank of Canada (formerly B3) was previously named Bank of Canada: Monthly and weekly series (B3).

The Bank of Canada commenced operations in March 1935 under the terms of the Bank of Canada Act of 1934. Data for the month-end series (Bank of Canada assets and liabilities: Month-end (formerly B1)) are available from the commencement of operations and for the Wednesday series (Bank of Canada assets and liabilities: Weekly (formerly B2)), from 1954. The statement of assets and liabilities presented in the tables follows in general the form presented in the Bank of Canada Act. In compliance with the 1991 Bank Act, the statutory requirement on chartered banks to hold reserves against certain of their deposit liabilities was reduced to zero in July 1994. Positions of members of Payments Canada with the Bank of Canada (formally B3) presents information consistent with the new framework for monetary policy implementation in the period after the inception of the Large Value Transfer System on 4 February 1999.

The Bank of Canada transitioned to reporting under International Financial Reporting Standards (IFRS) effective 1 January 2011.

Payments Canada was formerly known as the Canadian Payments Association.

Positions of members of Payments Canada with the Bank of Canada (formally B3) contains data pertaining to the Large Value Transfer System (LVTS). All data are reported as weekly and monthly totals, with the number of business days on which transactions occurred during the period reported.

Reflecting the change to next-day settlement of payments in the Automated Clearing Settlement System (ACSS), which was effective November 2003, end-of-day overdraft and long positions for this clearing and settlement system no longer exist. See Technical Note: Elimination of Retroactive Settlement in the ACSS in the Autumn 2003 issue of the Bank of Canada Review.

Overdraft loans are the amounts needed to cover deficits at the end of the day in the LVTS. Interest is charged on such overdraft loans at the Bank Rate, which is the upper limit of the Bank of Canada’s Operating Band.

Overdraft loans are the amounts lent to LVTS participants by the Bank of Canada to cover deficits at the end of the day arising from the operation of the LVTS and any other loans to members of Payments Canada by the Bank of Canada. Interest on overnight loans to LVTS participants is charged at the Bank Rate, which is the upper limit of the Bank of Canada’s operating band. Interest on any other loans is charged at a rate set by the Bank of Canada, which is typically the Bank Rate.

Positive balances are the end-of-day balances in the LVTS. The interest rate paid by the Bank of Canada on positive balances after settlement of the LVTS is set at the lower limit of the operating band.

Special deposit accounts (SDAs) are balances placed on deposit at the Bank of Canada as collateral for LVTS intraday liquidity and overdraft loans. The interest rate paid on SDAs is set at the Bank’s target for the overnight rate less 7 basis points.

  1. 1. In the event that an Emergency Lending Assistance (ELA) advance is made, the advance will not be included until public disclosures have otherwise occurred. Any outstanding ELA advances are included in the Bank’s monthly balance sheet and its annual and quarterly financial statements. The Banking and Financial Statistics will not be restated after ELA has been otherwise disclosed.[]
  2. 2. Payments Canada was formerly known as Canadian Payments Association.[]