Payment oversight resulted from one of the objectives of the Bank’s charter, which is to promote a safe and efficient payment traffic in the countries of Curaçao and Sint Maarten.
CBCS is responsible for the oversight of payment and securities systems and thus to financial stability. Our oversight activities are aimed at avoiding the emergence of systemic risk and preventing large-scale disruptions of payment systems.
Oversight of payment systems concerns institutions, systems, instruments, platforms, and products relevant to payments in the countries. Oversight of securities systems focuses on institutions and systems that handle the clearing and settlement of securities and derivatives transactions that are relevant to the countries.
The Bank oversees that institutions, systems, instruments, platforms and products relevant to payments, process transactions securely, quickly and continuously. The Bank will set requirements based on international standards, rules and regulations and by applying moral suasion. The Bank will perform assessments, market wide exercises and monitor implementation of recommendations.