Note: All references to the volume of payment items on this
page are based on the number of items delivered through the clearing
system. For official purposes under the CPA's By-Laws, such as
the calculation of members' dues, voting rights and direct clearer
criteria, the total volume of payment items includes both items
delivered and received through the clearing system.
- The CPA’s Automated Clearing Settlement System (ACSS) and Large
Value Transfer System (LVTS) cleared and settled a total of over $51
trillion in 2008.
- On average, more than $202 billion worth of transactions were cleared and
settled through CPA systems every business day during 2008.
- The total volume of transactions flowing through the Canadian
payments system increased by 162 per cent between 1990 and 2008.
Automated Clearing Settlement System (ACSS)
- More than 5.7 billion payment items were cleared through ACSS in
2008.
- In 2008, the total value of ACSS payment items was $5.26 trillion,
up from $5.18 trillion in 2007.
- In 2008, 82 per cent of payment items cleared via the ACSS were
electronic, up from just 13 per cent in 1990. Paper items declined
from 86 per cent of items cleared through the ACSS in 1990 to 17.9 per
cent in 2008.
- Paper items are also declining in absolute numbers. Between 1990
and 2008, paper based transactions decreased by 46 per cent, while
electronic transactions grew by approximately 1459 per cent, in part reflecting the
use of electronic payment mechanisms, such as point-of-sale devices,
instead of cash for low-value transactions.
- Although electronic items account for 82% of ACSS
volume, they represent only 38 per cent of the total value cleared
through ACSS. The bulk of the ACSS value (61.4 per cent) remains in
paper-based transactions, especially those cleared in the "L" stream
(value of over $50,000).
Large Value Transfer System (LVTS)
- LVTS was implemented in February 1999 and serves as Canada’s wire
payment service, providing real-time finality of payment and
guaranteed settlement.
- In 2008, over $45.9 trillion was settled through the LVTS. This
figure represents 89.6 per cent of all value flowing through
Canada’s payments system.
- The total volume of LVTS transactions during 2008 was 5.72
million.
- The peak value for LVTS transactions in a single day is $ 268.6 billion
(September 4, 2007).
- The average daily value in 2008 was in the range of $181.6 billion.
- On average, over 22,500 LVTS payments were carried out daily in
2008. The highest daily volume of LVTS transactions to date is
39,303 (July 2,
2008).
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