Payment and settlement systems

In today's economic and financial environment the efficiency and reliability of the financial sector depends on the smooth and sustainable operation of its settlement systems. For the central bank, the flawless performance of its settlement systems is essential in light of the following central bank goals:

   Implementing an effective monetary policy;

   Guaranteeing the stability of the financial system;

   Arranging for the smooth operation of currency circulation.

Pursuant to internationally acknowledged standards (for more information, see the international standards and good practice), the Eesti Pank Act, the Credit Institutions Act and the directives of the Governor of Eesti Pank enacted based on these legal acts.
Eesti Pank fulfils three different roles in connection with settlement systems:

   Operator of settlement systems - Eesti Pank is the service provider and owner of the inter-bank payment settlement systems it manages (for more information, see Eesti Pank's settlement systems);

   Regulator of settlement systems - Eesti Pank enforces legal acts concerning the settlement systems of inter-bank payments (for more information, see settlement system regulations);

   Overseer of settlement systems - Eesti Pank assesses and coordinates the operation and development of settlement systems (for more information, see oversight of settlement systems).