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Home > Financial Stability > Recognised Payment Systems applications

Recognised Payment Systems applications

Part 5 of the Banking Act 2009 establishes a statutory regulatory regime for interbank payment systems. This regime is operated by the Bank. Under the statutory regime, payment systems which meet the criteria set out in the Act (section 185(1)) may be recognised by HM Treasury and brought within the Bank’s oversight regime.

HM Treasury has published a Guidance note on the process for recognising interbank payment systems (see External Links).

Enquiries into recognition should be made to HM Treasury.