Payment System Council
The Payment System Council was established in June 1998 pursuant to Resolution No 14/98 of the NBP Management Board of 10 June 1998. The Council is the opinion-making and advisory body of the Management Board of Narodowy Bank Polski. Its main objective is to coordinate the operations of NBP, the Polish Bank Association, banks operating on the Polish financial market, and other domestic institutions associated with the payment system.
The Payment System Council defines the strategic directions of payment system development, deals with ongoing analysis and assessment of the Polish payment system and legal regulations pertaining thereto. It also undertakes measures with the aim of integrating actions of the banking sector in the scope of the payment system and formulates proposals of measures related in particular to:
- mitigation of systemic risk in the payment system,
- improvement of payment transactions and increasing their security, effectiveness and availability,
- limitation of financial exclusion,
- promotion of secure innovations in payments.
The Council may also deal with resolving issues indicated by the NBP Management Board. The Council meetings are held at least four times a year. The first meeting of the Payment System Council was held on 10 October 1998.
The Council is chaired by the Vice-President of NBP and his/her deputy is the President of the Management Board of the Polish Bank Association. The Council also comprises: a representative of the Minister of Finance in the capacity of Secretary of State or Undersecretary of State, a member of the NBP Management Board designated by the President of NBP, the Chairperson of the Polish Financial Supervision Authority, the President of the Office for Competition and Consumer Protection, the President of the Management Board of Krajowa Izba Rozliczeniowa S.A. (National Clearing House), the President of the Management Board of Krajowy Depozyt Papierów Wartościowych S.A. (the Central Securities Depository of Poland ), the Chairman of the Acquirers Committee, the President of the Management Board of Poczta Polska S.A. (Polish Post), presidents of management boards of several commercial banks appointed by the Polish Bank Association, and the Director of the NBP Payment Systems Department acting as the Secretary of the Council.
The Chairperson of the Council may also invite representatives of other institutions and entities operating within the payment system to the Council meetings, depending on the subject of the meeting, including in particular: representatives of ministries or central government offices, representatives of entities operating payment systems or payment schemes, representatives of non-bank payment service providers, representatives of consumer associations and representatives of entrepreneur associations.