News Release
Payment Systems Oversight Report
27 February 2007
The Bank of England is today publishing its third Payment Systems Oversight Report (see link below). The report summarises the developments in the key UK payment systems over the past year and explains the focus of the Bank's work in this field.
In common with the two previous Oversight Reports, the overall message is encouraging: the main UK payment systems continue to exhibit a high level of robustness by international standards. In particular, the high-value payment systems come close to observing fully the internationally recognised standard of the Core Principles for Systemically Important Payment Systems.
Notes to Editors
As an annual publication, the Bank uses the Oversight Report as a means of explaining how it is discharging its non-statutory public policy responsibilities for oversight, as part of its broader mandate for financial stability.
The Core Principles for Systemically Important Payment Systems are a set of ten standards agreed among central bank overseers and published back in 2001 (www.bis.org/publ/cpss43.pdf). They focus on the controls that payment systems should have in place in order to minimise a variety of risks inherent in payment systems.
Key Resources
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Payment Systems Oversight Report 2006 |
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Annexes to Payment Systems Oversight Report 2006 |
