Central Banking

Remarks by the ECB on the oversight of SWIFT

The European Central Bank (ECB) said in a press release Thursday 1 January it would like to note that central banks are responsible for fostering financial stability and promoting the smooth operation of payment and settlement systems.

As SWIFT is a messaging provider and not a payment system, central bank oversight of SWIFT (performed by the G10 [1] central banks and the ECB) focuses on its technical security, operational reliability, resilience, appropriate governance arrangements, and its

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