BANK OF CANADA important question and answer

BANK OF CANADA important question and answer - BANK OF...

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BANK OF CANADA 1. What is Seigniorage Revenue? Seigniorage is the net revenue derived from the issuing of coins or bank notes. It arises from the (often substantial) difference between the face value of a coin or bank note and the cost of producing and distributing it. 2. Function of money? -means of exchange , u nit of measurement, means of storing purchasing power for future use 3. The CPA, LVTS ACSS The Canadian Payments Association(CPA) is a not-for-profit organization created under the Canadian Payments Association Act. Its mandate is to establish and operate national systems for the clearing and settlement of payments. -Clearing is the daily process by which CPA members exchange deposited payment items, and the net amounts owed to each other are then determined. -Settlement is the procedure by which CPA members use funds on deposit at the Bank of Canada to fulfill their net obligations to all other members. Large Value Transfer System (LVTS): The LVTS is an electronic wire transfer
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BANK OF CANADA important question and answer - BANK OF...

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