These systems allow financial institutions to calculate how much is owed to each other as a result of their customer's transactions and to transfer those funds to settle those balances.

The Governor of the Bank of Canada has oversight responsibility for the LVTS and ACSS under the Payment Clearing and Settlement Act.

A 20-person "Stakeholder Advisory Council" (SAC) provides advice and input to represent the interests of users of the payments system.

It also identifies issues that might concern payment system users and third-party service providers, and suggests how they could be addressed.

[12] Payments Canada is responsible for ensuring that significant rule changes follow an established public consultation process to seek input from key user groups.