Canada's largest bank, the Royal Bank of Canada (RBC), said that "virtually" all of its clients' accounts should reflect all transactions processed up to and including Friday 4 June following a processing glitch discovered last week.
The Toronto-based bank recognised that the processing glitch it discovered last week during a routine programming update to one of its computer systems has not only hampered its own business, but has also affected the ability for other financial institutions to update their own client accounts.
"Now that those institutions have the information they need, they will be able to update their records according to their own processing schedules," said Marty Lippert, vice-chairman and RBC's chief information officer.
Although the bank has apologised for any inconvenience to its clients, it indicated that some RBC customers might continue to be without their money for a little while longer.
"While there may be some isolated instances where the effects of the disruption will impact clients over the next few days, I want to assure them that their money is safe and secure and that we will continue to do whatever we can to assist them," said Gordon Nixon, RBC's president and chief executive officer.
Lindsay Bruce writes for ITWorldCanada.com