sys de paiement

Scope of the oversight of payment systems, securities settlement systems and payment instruments

The BCL’s oversight consists of two fields of activity:

  • the oversight of the systems in Luxembourg which it designates and of the payment instruments made available to the public in Luxembourg.
  • the contribution to the oversight activities which are performed in a coordinated way at the Eurosystem level and which are partly focused on infrastructures without clear domestic anchorage.

Oversight of securities settlement systems

The BCL is in charge of the oversight of securities settlement systems operated by Clearstream Banking S.A., by VP Lux S.à.r.l.LuxCSD S.A., and by globeSettle S.A.

Oversight of payment systems

The BCL contributes to the joint oversight of the Target2 payment system and of its legal component in Luxembourg, T2-LU. The BCL is also in charge of overseeing decentralised aspects located in Luxembourg.

The BCL is also involved in the information exchange and discussions within the Eurosystem concerning the oversight of the payment systems operated by EBA Clearing (Euro1 and Step2).

Oversight of payment instruments

The payment instruments which fall within the oversight scope of the Banque centrale are predominantly credit transfers, direct debits, payment cards and electronic money schemes made available to the public in Luxembourg.