csrgk today monthly magazine Published this articles page no 531 Oversight of Payment and Settlement SystemsOversight of the payment and settlement systems is a central bank function whereby the objectives of safety and efficiency are promoted by monitoring existing and planned systems assessing them against these objectives and where necessary inducing change. By overseeing payment and settlement systems central banks help to maintain systemic stability and reduce systemic risk and to maintain public confidence in payment and settlement systems. The Payment and Settlement Systems Act 2007and the Payment and Settlement Systems Regulations 2008 framed thereunder provide the necessary statutory csrgk today monthly magazine
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