PRESS RELEASE

Statement on the role of the Eurosystem in the field of payment systems oversight

21 June 2000

The European Central Bank (ECB) is today releasing to the public a policy statement on the role of the Eurosystem in payment systems oversight.

This policy statement is aimed at clarifying the role the Eurosystem as a whole plays in the field of payment systems oversight and the practical organisation of oversight activities within the Eurosystem.

The oversight of payment systems is an essential function of central banks (and, hence, also of the Eurosystem) which is aimed at ensuring the smooth functioning of payment systems. It is directly linked to other core central bank functions, such as the definition and implementation of monetary policy (for which the payment systems are the transmission channel) and to central banks' interest in the stability of the financial system and the maintenance of public confidence in the currency.

The statement will be available on the ECB's website [pdf 211 kB] as of 3 p.m. (C.E.T.). Hard copies will be distributed to interested parties on request by the EU central banks in their respective countries. They will also be available from the ECB at the following address:

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