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The MNB makes efforts to promote the efficient and sound functioning of payment systems and services. In order to achieve this goal, the MNB, jointly with the Ministry of Finance on basis of the shared codifier competence between the two regulatory institutions, lays down the terms and conditions of providing and using payment services in decree.

The efficient and safe operation of the interbank payment and settlement systems and the securities clearing and settlement systems is indispensable for undisturbed functioning of national payment services, for ensuring financial stability and implementing monetary policy. The licensing criteria of establishment and pursuing activity of clearing houses for credit institutions as well as capital market clearing houses and central securities depositories operating these systems, the prudential rules of their operation are set out in the Act on Credit Institutions and Financial Enterprises and in the Act on Capital Markets. However, as a supplement of the provisions of this legislation, the MNB is entitled to lay down further requirements for these clearing houses mentioned by a Governor’s Decree, primarily such aimed at protection against systemic risks.

In its legislative work relating to clearing houses for credit institutions as well as capital market clearing houses, the Central Bank largely relies on the international principles and recommendations elaborated and published in relation to the interbank payment and settlement systems as well as the securities settlement systems.