The European Central Bank (ECB) publishes today its Payment Systems and Market Infrastructure Oversight Report 2007. With this publication, the ECB seeks to inform public authorities, market infrastructure providers and their participants, as well as the general public, on developments related to its oversight framework, and its oversight activities related to specific payment systems.
As this is the first dedicated publication on the ECB’s oversight activities, it provides a description of the general framework for the ECB’s oversight activities, including its legal basis, the main standards applied and the systems that fall under the ECB’s oversight competencies. The report also explains recent changes in the business and legal environment that have an impact on the oversight function of the ECB.
In the second part, the report describes the ECB’s oversight activities carried out in 2007 with regard to those market infrastructures for which it has the primary oversight responsibility or for which it is involved in cooperative oversight arrangements at the international level.
Looking ahead, there will be a number of topics that will play a prominent role on the agenda of the Eurosystem’s overseers in coming years. The third chapter of the report provides a short overview of the background and the objectives of the current initiatives being developed in the field of oversight.
In addition to the cooperation with central banks within the Eurosystem and the European System of Central Banks, the ECB also liaises with overseers at the international level regarding oversight and other payment and settlement systems-related issues. The final part of the report gives an account of activities related to oversight that the ECB conducted in cooperation with other major international central banks.
This publication can be downloaded from the “Publications” section of the ECB’s website (http://www.ecb.europa.eu/pub).
Reproduction is permitted provided that the source is acknowledged.