The Hub: News & Events for June 4, 2019

View this email in your browser June 4, 2019   Central 1 News    Thank You, We've Met Our First Adoption Target for Interac e-Transfer® Enhanced User Features (login required)  Thank you to all our financial institutions across Canada for prioritizing and taking action in this collective effort to implement Interac e-Transfer® Enhanced User Features (EUF). We are delighted to advise that as a system we have successfully met the first target and are making strides in collectively moving towards full implementation.    Bank of Canada Announcement - $1, $2, $25, $500 and $1,000 bank notes will no longer be legal tender (login required)  Following changes announced in the Federal Budget in 2018, the Government of Canada can now remove legal tender status (LTS) from bank notes.      Payment Solutions Manual: AFT Settlement Part Update (login required)  ​We added a section to the AFT Settlement Part, Chapter 5, Posting Incoming AFT Files, that provides content on the AFT serviceability codes. We also updated Central 1 Account Request, Form 3571, to clarify that the 2-hour funds availability (Code "0") only applies to AFT service.    Advisory: Enhanced Reconciliation File – OREC Implementation (login required)  ​The OREC file implementation has been scheduled for June 10, 2019.        Payment Solutions Manual: Account Reconciliation File Specifications (login required)  ​The OREC File Specifications, Form 8951, is now available on the secure site. We also updated the PREC File Specifications, Form 3750, with an improved description of file availability, and we updated the Central 1 File Specifications Part.     Central 1 Events June 12, 2019 User Sessions Spring Webinar   September 8-10, 2019 Momentum Summit & Trade Show Westin Harbour Castle, Toronto Industry News Credit unions BC's housing market to bounce back from Vancouver price correction by 2021 (Livabl) - features Central 1 Credit Union Economics Bank of Canada's lessons for the Fed: Bar to change is high (BNN Bloomberg) Technology Slow progress on open banking putting Canada further behind, observers warn (Financial Post) SMEs benefit from cashless payments says study (FinExtra) Why AI Is MIA In Most FI Fraud Departments  (PYMNTS) Housing / real estate Vancouver home sales surge 44.2% in May in sign of recovery (BNN Bloomberg) Real estate affordability worsened by taxes and limited options, say B.C. residents (Business in Vancouver) Banking OSFI increases domestic stability buffer for big banks to 2% (BNN Bloomberg)   Industry Events June 9-14, 2019 CanadaDE Credit Union Leadership Program Saint Mary's University Halifax, NS June 10, 2019 OCUF Golf Classic & Culinary Class Markland Wood Golf Club, Toronto, ON July 28-31, 2019 World Credit Union Conference The Atlantis Resort, Bahamas   September 15-17, 2019 CULA Conference White Oaks Conference Resort Niagara-on-the-Lake, ON (Save the date) October 3 – 5, 2019 35th Annual Credit Union Directors' Forum   "Good Governance: The Future of Ontario's Credit Unions" Hilton Mississauga/Meadowvale October 21-22, 2019 Everlink Connections 2019 Hilton Toronto Have some credit union news or events? To submit items email newslist@central1.com *please include an URL to the requested item Copyright © 2018 Central 1 Credit Union, All rights reserved. Unsubscribe from The Hub The Hub is brought to you by Member & External Communications. Questions or feedback regarding The Hub? Email communications@central1.com. Unsubscribe from all commercial messages from Central 1  Please note: this option will remove you from all future Central 1 communications. Should this message not be applicable to you, we encourage you to unsubscribe from this list only.

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