The objective of oversight activities performed by the President of NBP is to promote safety and efficiency of payment system, as well as to ensure compliance with law of rules for the functioning of overseen services, systems and schemes in order to guarantee their smooth operating and thereby to reduce the related systemic risk.
Abovementioned activities pertain to the following responsibilities of NBP for:
- maintaining the stability of the national financial system,
- maintaining public confidence in the national currency,
- protecting and ensuring transmission channels for monetary policy.
Payment system oversight focuses on functioning of payment systems, payment schemes, securities clearing systems, securities settlement systems and providing the acquiring services by national payment institutions. The essence of oversight activities performed by the President of NBP entails assessing applications submitted by entities which intend to operate within the abovementioned scope, collecting information regarding the current operations from overseen entities, assessing these operations and performance of tasks with a view to introduce necessary amendments for the rules of functioning of overseen services, systems and schemes.