In conformity with the article 127 (2) and (5) of the Treaty of the Functioning of the European Union, the Banque centrale du Luxembourg, as a member of the Eurosystem, has the mission to promote the smooth functioning of payment and settlement infrastructures. Their smooth functioning is essential for the implementation of monetary policy, the safeguarding of financial stability and of the public confidence in the currency. At the national level, the BCL’s mission is stipulated in the law of 23 December 1998 related to the monetary statute and to the Banque centrale du Luxembourg, as amended, in particular articles 2 (5), 27-3 and 34 (1). In this regard, the BCL shall ensure the efficiency and safety of payment systems and securities settlement systems, as well as the safety of payment instruments.
In this context, the Banque centrale adopted on 15 January 2016 a regulation, which specifies the scope of its oversight mission, the general framework and the means by which it performs this activity.