Directive on the Determination of Safe, Liquid and Low-Risk Assets for the Investment of Monetary Funds Subject to Safeguarding Requirements 2026

E.E. Part III(I) C.D.P. 228/2026
No. 6022, 8.5.2026
Number 228

THE PROVISION AND USE OF PAYMENT SERVICES AND ACCESS TO PAYMENT SYSTEMS LAWS OF 2018 TO 2025 ______________

Directive pursuant to Article 10
31(I) of 2018
32(I) of 2019
16(I) of 2022
36(I) of 2023
16(I) of 2025
100(I) of 2025.

The Central Bank of Cyprus, exercising the powers conferred upon it by Article 10 of the Laws on the Provision and Use of Payment Services and Access to Payment Systems of 2018 to 2025, issues this Directive.

Short title.

1. This Directive shall be known as the Directive on the Determination of Safe, Liquid and Low-Risk Assets for the Investment of Monetary Funds Subject to Safeguarding Requirements 2026.

Interpretation.
2. (1) In this Directive, unless the context otherwise requires -
"Law" means the Laws on the Provision and Use of Payment Services and Access to Payment Systems of 2018 to 2025.

(2) Terms included in this Directive and not otherwise interpreted have the meaning attributed to them by the Law.

(3) In this Directive, any reference to a law or regulatory administrative act of the Republic means that law or regulatory administrative act as amended, modified or replaced from time to time, unless the context otherwise requires.

Scope.
3. This Directive applies to payment institutions providing the payment services referred to in points 1 to 6 of Annex I of the Law.

Purpose.
4. The purpose of this Directive is to determine the safe, liquid and low-risk assets for the investment of monetary funds subject to safeguarding requirements, in accordance with paragraph (1) of Article 10 of the Law.

Safe, liquid and low-risk assets.
C.D.P. 166/2025
(13.6.2025).

5. (1) For the purposes of this Directive, safe, liquid and low-risk assets are defined as the assets included in points (a) and (b) of sub-paragraph (4) of paragraph 9 of the Electronic Money Institutions Directive 2025.

Provided that for investments in safe, liquid and low-risk assets under this sub-paragraph, the restrictions set out in Annex B of the Electronic Money Institutions Directive 2025 apply.

(2) Payment institutions shall prepare an internal policy for investments in safe, liquid and low-risk assets and notify their policy to the Central Bank at least one month before the commencement of investments.

Entry into force.
6. This Directive enters into force on the date of its publication in the Official Journal of the Republic.

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