The payments that Canadians send and receive on a daily basis to pay bills, salaries, purchase goods and services, lend or borrow money underpin the economy with the direction from rules and standards. Through the development of these rules and standards we ensure and promote consistency, standardization, safety and soundness in how payments are processed.
By-laws, rules, standards and procedure documents are developed for our payment systems including the clearing and settlement of retail batch payments, also known as the Automated Clearing Settlement System (ACSS) and associated US Dollar Bulk Exchange and high-value payments, also known as Lynx.
Rules process (how rules are made or changed)
Payments Canada’s rules and standards are developed in consultation with members and stakeholders where necessary*. Rule changes can be divided into three types:
- Administrative changes include editorial changes, changes to contact information, schedules, dates and statistics that may exist in appendices of the rule(s).
- Operational or Technical changes impact members only and typically relate to changes in operational process or procedure such as a rule/definition clarification or technical upgrades. This type of rule represents the majority of rule change initiatives conducted.
- New Policy or Process changes are those changes that have significant impact to members, end-users such as large corporations, vendors or consumers. These changes are often related to the implementation of a new policy, system or process. Stakeholder Advisory Council involvement and public consultation are mandatory for this type of change. An example of this type of change might be credit risk changes, review of a pre-authorized debit (PAD), corporate credit card identification number database (CCIN) or Point-of-Sale (POS) related rule.
*Where necessary refers to when major policy changes will impact end-users and or the Canadian economy. At which time, consultation is necessary amongst members and stakeholders.
Once a rule change type has been identified, the following rules process is followed all the way through to the final rule change or new rule development.
How are rules enforced?
Payments Canada’s rules apply to all members participating in the systems.
Monitoring is performed by Payments Canada to ensure that members comply with the requirements (e.g., review of operational incidents, member attestations, member inquiries, etc.). All matters relating to compliance are reviewed by the Compliance team and, where applicable, will be addressed in accordance with the procedures outlined in By-law No. 6 – Compliance.
Upcoming Changes to Rules, Procedures & Standards
|Bylaws, Rules or Standards in review||Description of change||Target Board meeting date||Target rule effective date||Status|
|Rules B9, D4, E3, and K5||Administrative amendments to reflect the addition of a new ACSS Direct Clearer||N/A||June 12, 2022||-|
|Rule B1, K4 and Lynx Rule 3||Amendments to the ACSS and Lynx Rules to move the SLD attestation due date in the rules from January 31 to March 1.||May 13, 2022||July 12, 2022||BoC 30 day review|
|Rule H1||Amendments to update the Pre-Authorized debit rule||May 13, 2022||October 3, 2022||BoC 30 day review|
|Rule C1||Addition of a new rule related to members' ability to maintain ACSS connections outside of Canada.||September 15, 2022||November 14, 2022||Member review|
|Rule A10 and A4||Amendments to clarify/update the return reasons for Bank Drafts and Certified Cheques||September 15, 2022||November 14, 2022||Member review|
|Standard 005||Amendments to clarify Standard 005 provisions raised by new Direct Clearer||September 15, 2022||November 14, 2022||Member review|
|Rule A1, B1, G3, G12, H6, L3, J10 and ACSS Rules Introduction||ACSS consequential amendments related to the repeal of the LVTS Rules||May 13, 2022||November 21, 2022||BoC 30 day review|
|Removal of LVTS Rules||Repeal of LVTS Rules||June 13, 2022||November 21, 2022||BoC 30 day review|
|Lynx Rule 1, Rule 2, Rule 3, Rule 4, Rule 5, Rule 6, Rule 7, Rule 8, Rule 9, Rule 10, Rule 11, Rule 12, Rule 14, TSP 001,TSP 002 and TSP 003||Amendments to the Lynx Rules to accommodate the use of ISO 20022 MX messages for the exchange of Lynx payments.||June 13, 2022||November 21, 2022||BoC 30 day review|
|Rule L3||Amendments to change methodology used to calculate the ACSS Collateral for a New Direct Clearer||December 2, 2021||January 31, 2022||Published|
|Rules F1 and F4||Amendment to clarify the notification period for updating the Account Number Format and Validation Criteria document||December 2, 2021||January 31, 2022||Published|
|Rule A10||Amendments to update the Incident management provisions for cheque images||September 23, 2021||November 22, 2021||Published|
|Rule B2 and B9||Amendments to add a new identifier for Regional and National SETs Collection||September 23, 2021||November 22, 2021||Published|
|Rule G3 and G8||Amendments related to the review of Government warrants||September 23, 2021||November 22, 2021||Published|
|Introduction to the ACSS Rules||Amendment to accommodate the new holiday - National Day for Truth and Reconciliation||July 20, 2021||September 29, 2021||Published|
|Lynx Rule 2||Amendment to accommodate the new holiday - National Day for Truth and Reconciliation||July 20, 2021||September 29, 2021||Published|
|LVTS Rule 2||Amendment to accommodate the new holiday - National Day for Truth and Reconciliation||July 20, 2021||September 29, 2021||Published|
|Lynx Rule 10||Amendment to add an account number format for a new ACSS Direct Clearer||N/A||September 27, 2021||Published|
Rule 01, Rule 02, Rule 03, Rule 04, Rule 05, Rule 06,
Rule 07, Rule 08, Rule 09, Rule 10, Rule 11, Rule 12,
Rule 13, Rule 14, Rule 15,TSP 001, TSP 002, TSP 004
|New Rule set for Lynx||June 24, 2021||August 28, 2021||Published|
|Rule G12||Amendments related to a review of Government direct deposit rules||June 24, 2021||August 23, 2021||Published|
|Rule F7||Amendments to accommodate the reduction of the cycle time to deliver the updated FIF file||December 3, 2020||May 10, 2021||Published|
|Rule E3||Amendments to update the EDI incident management provisions||February 25, 2021||April 26, 2021||Published|
|Rules G2, G3,
consequential amendments to A1, A10, B1, B2, B9, F1, G7, G8, F9 and H5
|Amendments to bring return time frames for Government instruments more inline with other payment items.||December 3, 2020||January 2, 2021||Published|