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. and by LuxCSD S.A..
Oversight of payment systems
The BCL contributes to the joint oversight of the TARGET payment system and of its legal component in Luxembourg, TARGET-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, STEP2-T and RT1) as well as by Mastercard Europe SA (Mastercard Clearing Management System)
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.
