Regulators
The Canadian Payments Act sets out our mandate and the legal framework that governs our existence. The act also designates oversight responsibilities to the Minister of Finance who has the authority to review and disallow new or amended payment rules, and issue directives to make, amend or repeal by-laws, rules or standards.
Visit the Department of Finance website
The Payment Clearing and Settlement Act assigns the Bank of Canada responsibility for overseeing automated clearing and settlement systems for the purpose of controlling systemic risk or payments system risk. This means the Bank of Canada has oversight responsibilities for our Large Value Transfer System and Automated Clearing Settlement System.