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Large Value Transfer System (LVTS)
System being created by the Canadian Payments Association to settle large value payments at the central bank on a same-day basis.

Lease
An agreement to rent for a period of time at an agreed price.

LIBOR
London Inter-Bank Offer Rate. The interest rate that London banks charge each other for loans (usually in Eurodollars). This rate is applicable to the short-term international interbank market and applies to very large loans borrowed for anywhere from one day to five years. The LIBOR is the world's most widely used benchmark for short-term interest rates. It is the rate at which the world's most preferred borrowers are able to borrow money. Countries that rely on the LIBOR for a reference rate include the United States, Canada, Switzerland and the UK.

Line of Credit
An agreement negotiated between a borrower and a lender establishing the maximum amount of money a borrower may draw. The agreement also sets out other conditions, e.g., how and when money is to be repaid.

Long-term liabilities
Money that you owe over a period longer than 12 months, such as mortgages, bank loans and other obligations.