November 28
2021
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Emilija Berzanskaite
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24th November 2021
Banking & Finance

New framework for overseeing electronic payments published by the Eurosystem

The Eurosystem has published the new oversight framework for electronic payment instruments, schemes and arrangements (PISA framework) including an assessment methodology and an exemption policy from the framework. 

The ECB’s Governing Council approved on 15 November 2021 a new oversight framework for electronic payments following a public consultation. The framework is designed to make the current and future payments ecosystem safer and more efficient, as part of the ECB’s statutory task to promote the smooth operation of payment systems, given that the safety and efficiency of the payment system are essential for a stable and well-functioning financial system and confidence in the currency.

The Eurosystem will use the new

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