Oversight of Financial Market Infrastructures, other market infrastructures and service providers
The oversight of payment systems and securities clearing and settlement systems is exercised by central banks, as part of their task to promote financial stability. It consists in ensuring that payment systems and securities clearing and settlement systems operate smoothly and that they are efficient and sound.
This oversight is in fact twofold: firstly, it involves developing standards (principles, minimum criteria, codes of conduct, etc.) applicable to payment and settlement systems and, secondly, ensuring that the systems concerned meet these standards in practice.
The financial market infrastructures, other market infrastructures and service providers subject to the Bank's oversight are the following:
Payment systems, electronic payment instruments, schemes and arrangements and payment transaction processors: TARGET2, Centre for Clearing and Exchange (CEC), CLS, Bancontact, MasterCard Europe, Maestro, Mastercard Clearing Management System, Worldline SA/NV, equensWorldline SE.
Securities clearing and settlement systems: central counterparties (CCPs), central securities depositories (CSDs) (NBB-SSS, Euroclear Belgium) and the international CSD (ICSD) Euroclear Bank.
Other infrastructures and service providers: TARGET2-Securities, SWIFT
For financial market infrastructures and service providers established in Belgium that are systemically important in other jurisdictions, the Bank has established formal cooperation with other authorities..
The Bank’s role in oversight of financial market infrastructures, other market infrastructures and service providers
Financial Market and Payment Services Report - The Bank’s role in oversight and prudential supervision of financial market infrastructures, custodians, payment service providers and critical service providers