This Instruction establishes the procedure for the National Bank’s evaluation of systemically important payment systems for compliance with international standards.<\/p>\n
Structure of the act:
\n1. General Provisions – define the scope of application and terms
\n2. Evaluation Principles – 18 key principles regarding legal basis, risk management, settlements, security, etc.
\n3. Evaluation Criteria – detailed requirements for verifying compliance with each principle
\n4. Compliance Levels – from “fully compliant” to “non-compliant”<\/p>\n
Key Provisions:
\n– The NBU evaluates payment systems according to 18 international principles, including legal basis, risk management, settlement security
\n– Evaluation is conducted based on documents, reporting, interviews with employees
\n– 4 levels of compliance with principles are established – from full compliance to non-compliance
\n– System operators must conduct self-assessment using the same methodology
\n– Special requirements are established for cross-border systems and multi-level participation systems<\/p>\n
– the document establishes critically important requirements for payment infrastructure that impacts the country’s financial stability.<\/p>\n