Payments Canada has implemented amendments to the Automated Clearing Settlement System (ACSS) and Lynx Rules, effective 24 November 2025, to streamline operations, align with global standards and keep requirements consistent across its payment systems. The update harmonises interest rate calculations across ACSS and Lynx, removes rule references to the Swift MT format as wire payments move fully to ISO 20022, and introduces a standardised approach for initiating Lynx payment returns. Key changes include aligning ACSS Rule J10 and Lynx Rule 14 interest calculations with the Bank of Canada’s updated monetary policy framework in which the deposit rate is lower than the policy rate. To reflect the end of the Swift MT and MX coexistence period and Swift’s ISO 20022 adoption deadline in November 2025, references to the Swift MT format were removed across multiple ACSS and Lynx rules and related technical specifications and procedures. Lynx Rule 10 now specifies that participants should use the ISO 20022 payment return message pacs.004 for returns, alongside broader editorial and operational clean-up across ACSS and Lynx rulebooks.
Payments Canada 2025-11-24
Payments Canada amends ACSS and Lynx rules to align interest calculations with Bank of Canada policy and complete ISO 20022 migration
Payments Canada has amended the Automated Clearing Settlement System (ACSS) and Lynx Rules, effective 24 November 2025, to streamline operations and align with global standards. Key changes include harmonising interest rate calculations with the Bank of Canada’s monetary policy, removing references to the Swift MT format as payments transition to ISO 20022, and standardising Lynx payment return procedures. These updates ensure consistency across payment systems and reflect the end of the Swift MT and MX coexistence.