Objectives - Standards
The Bank of Albania bases its objectives of payment systems oversight on regulations, standards, and policies for the different entities subject to the scope of application of this function. Within this framework, the scope and intensity of oversight may vary depending on importance of each entity, and the financial market infrastructure evolution, taking into account all elements that may impair the smooth functioning of the payments system.
Payment systems oversight standards provide the benchmark for monitor promoting the safety and efficiency in licencing, regulation and oversight of important elements in the Financial Markets Infrastructure.
Monitoring and assessing these entities in relation to the safety and efficiency and proposals for amendments, where necessary, is the main activity of the Bank of Albania in this aspect.
The main oversight standards are those of the European Central Bank (ECB), and Bank for International Settlements (BIS) on financial market infrastructure, and national standards when necessary, based on the most recent developments at home.