Oversight

We promote the safety and efficiency of payment, clearing and settlement systems.
We measure the safe and efficient operation of Financial Market Infrastructures against established Eurosystem oversight principles and standards.
We promote fair and transparent access to these infrastructures.
Oversight responsibilities are assigned to the Eurosystem, which comprises the ECB and the national central banks (NCBs) of the euro area.

We conduct oversight assessments of relevant entities and systems against oversight principles and standards such as the Payment Instruments, Schemes, and Arrangements (PISA) Framework.
We represent Ireland on Eurosystem committees that deal with payment and securities settlement matters.
We support the Department of Finance in relation to relevant EU Commission working groups and EU legislation.
Contribute to policy formation at national and EU level.

Full process and legal basis can be found on the Payment Systems Approval Process page.
The pre-application process involves the submission of a Key Facts Document including details such as business model, corporate structure and supporting infrastructure.
This will be followed by clarification queries from the Central Bank of Ireland.
Once the Key Facts Document is deemed sufficient, the applicant firm will be invited to a series of meetings with the Central Bank of Ireland to discuss aspects of the submission.
Once this pre-application process has been completed, a formal application can be submitted.

Relevant Publications

You can contact us on these matters at [email protected].