Payments Canada issued amendments to its Automated Clearing and Settlement System (ACSS) and Lynx rules to clarify and streamline processes for cross-border arrangements. The changes, which took effect on January 13, 2025, tighten requirements around when participants can set up cross-border operations and update the timing of biennial attestations. For ACSS Rule C1, direct clearers must obtain written approval from Payments Canada before establishing authorized personnel access to the ACSS/USBE application for cross-border arrangements. The biennial attestation submission deadline moved from January 31 to March 1, and editorial edits were made for consistency and clarity. For Lynx Rule 15, participants may establish operations and authorize personnel outside Canada only after their cross-border application is approved and they have received written confirmation from Payments Canada; the biennial attestation deadline was similarly moved to March 1 alongside editorial updates.
Payments Canada 2025-01-27
Payments Canada amends ACSS and Lynx rules to require written approval for cross-border operations and shift biennial attestation deadline to March 1
Payments Canada amended its Automated Clearing and Settlement System (ACSS) and Lynx rules to streamline cross-border processes, effective January 13, 2025. Changes include tightened requirements for cross-border operations and updated biennial attestation deadlines from January 31 to March 1. Direct clearers and Lynx participants must obtain written approval from Payments Canada before authorizing personnel access for cross-border arrangements.