Payment Clearing and Settlement Act

Marginal note:Other powers

12 The Bank may do all or any of the following:

• (a) be a participant in a clearing and settlement system and participate in its loss-sharing mechanism;

• (b) act as a custodian of financial assets or act as a settlement agent, or both, for a clearing house;

• (c) despite section 23 of the Bank of Canada Act, accept and pay interest on deposits from a clearing house, participant or central counter-party.