The Automated Clearing Settlement System (ACSS)________.
A) was introduced on February 4, 1999
B) is an electronic net settlement network designed to provide settlement to wholesale transactions
C) aggregates interbank payments and informs the Bank of Canada of the net amounts to be transferred from and to each participant's settlement account with the Bank of Canada
D) Only A and B of the above.

Question

Quizplus · Accepted Answer

The ACSS aggregates interbank payments and informs the Bank of Canada of the net amounts to be transferred from and to each participant's settlement account with the Bank of Canada. It is not specifically designed for wholesale transactions, nor was it introduced on February 4, 1999.