As regards oversight activities, the role of the Bank of Albania in relation to the payment and settlement systems focuses on the following main aspects:
- Monitoring developments in payments and settlement systems, to assess the risks to which the systems may be exposed and the level of efficiency that may be achieved. In this regard, the Bank of Albania undertakes a specific research on new developments in payment systems infrastructure.
- Setting oversight principles and standards for a safe and efficient functioning of payment and settlement systems; these standards provide for a transparent approach, guaranteeing a level playing field among all overseen systems.
- Data analysis and information on systems activity through reporting and assessment of compliance with these principels and standards for the systems administered by the Bank of Albania or private operators.
- Conducting follow-up activities as the next phase for the system assessment;