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| Home / Information about / Financial stability / Oversight of payment and securities settlement systems |
| Oversight of payment and securities settlement systems |
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| The Swiss National Bank’s oversight mandate |
The National Bank Act requires the SNB to oversee the systemically important payment and securities settlement systems. By overseeing the systems operated by the private sector, the SNB promotes their security and efficiency. In so doing, it gives priority to reducing systemic risk. First, it is important to ensure that an operational or technical system failure will not result in major credit or liquidity problems for financial intermediaries. Second, the legal framework, contractual regulations and, in particular, the rules and procedures for the different systems should be formulated such that payment or delivery difficulties of individual system participants do not encroach on other financial intermediaries. The sole objective of system oversight by the SNB is to ensure financial stability, which in turn is a precondition for the effectiveness of monetary policy. Individual creditor protection, consumer protection or the protection of payment and securities settlement systems from criminal abuse, however, are not objectives of SNB oversight.
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Report "Oversight of payment and securities settlement systems by the Swiss National Bank"
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