+Article 2 (7)

Article 2 (7)

‘competent authority’ means:

(a)

the Eurosystem national central bank with primary oversight responsibility identified as such pursuant to Article 3(3); or

(b)

in relation to a payment system which is a SIPS that meets the criteria in Article 3(1), point (iii), ‘competent authority’ means either:

(i)

the ECB; or

(ii)

where a Eurosystem national central bank was entrusted with primary oversight responsibility for a period of five or more years immediately before the decision referred to in Article 3(3) was taken, both the ECB and that national central bank;

1. Overview

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1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

Requirements

3. Related Standards

Standards