Regulatory Alerts2020-01-01
Decision on Payment System Oversight
The Central Bank of Montenegro issued this decision to establish a comprehensive oversight framework for payment systems aimed at ensuring their safety, efficiency, and contribution to financial stability. The regulation mandates compliance with 18 specific principles covering legal basis, governance, risk management, and operational standards, aligning with international CPSS-IOSCO guidelines. It defines a structured assessment methodology including on-site and off-site reviews, assigns compliance ratings, and outlines procedures for reporting and enforcing corrective actions.
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