Systems under oversight of NBS

At the national level in Slovakia, Národná banka Slovenska has primary oversight responsibility for the following:

• payment system – Slovak Interbank Payment System (SIPS) operated by NBS,
• the Nexi Central Europe – payment system operated under NBS authorisation,
• the securities settlement system (SSS) operated by Centrálny depozitár cenných papierov SR, a.s (CDCP), and
• electronic payment instruments.

In its capacity as a Eurosystem member, NBS has oversight responsibilities for the TARGET Services (TS), which are overseen in accordance with an internal Eurosystem document entitled “Oversight Guide for Systemically Important Payment Systems”. The European Central Bank has primary oversight responsibility for TS, while NBS, as a Eurosystem member, participates in TS oversight on a voluntary basis. NBS has sole oversight responsibility for the TS component system in Slovakia, known as TARGET-SK. Since TS are classified by the Eurosystem as a systemically important  (SIPS), they are overseen in accordance with Regulation of the European Central Bank (EU) No 795/2014 (the SIPS Regulation).

The TS oversight function at the national level also encompasses the assessment of domestic TARGET-SK ancillary systems, in order to identify any potential problem which could be cause to the functioning of TS as a whole. TARGET-SK currently has following ancillary systems:

a) the Slovak Interbank Payment System (SIPS) – a retail payment system used for the processing and clearing of payments in euro and classified by the Eurosystem as an  other retail payment systems (ORPS); NBS oversees this payment system in accordance with the ECB’s Revised oversight framework for retail payment systems.

b) Nexi Central Europe – a retail payment system operating under NBS authorisation and providing electronic money management and issuance services and transaction settlement services; Nexi Central Europe falls under the Eurosystem category entitled other retail payment systems (ORPS) and, like the Slovak Interbank Payment System, it is overseen in accordance with the ECB’s Revised oversight framework for retail payment systems.

c) CDCP (Centrálny depozitár cenných papierov SR, a. s.) – central securities depository (CSD) which operates securities settlement system in Slovak Republic. The oversight of CDCP is governed by  Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories (CSDR) and related regulatory technical standards.

NBS regularly evaluates CDCP in its oversight capacity as relevant authority in line with CSDR regulation.