The purpose of the Regulation on the Oversight of Payment and Securities Settlement Systems is to set the procedures and principles for the oversight of payment and securities settlement systems.
It covers the procedures and principles for the oversight of payment and securities settlement systems; the information and documents to be requested in oversight work; the oversight of information systems; self-assessment; independent audits; and other matters related to oversight.
You can access the details of the regulation at the link below.
Why is oversight needed?
Payment systems are the infrastructure of financial stability. A disruption in one system can stop the flow of money between banks. That is why the Central Bank continuously monitors these systems and assesses them at regular intervals.
System operators carry out self-assessments, undergo independent audits and share the requested information regularly. This framework is also in line with international principles for financial market infrastructures.
Corrective actions may be required for shortcomings identified as a result of oversight.
