Annexes - nbb.be
Transcript of Annexes - nbb.be
Annexes
712019 ¡ Annex 1: Regulatory frameworkCSDs
FMIs CPMI-IOSCO Principles for Financial Market Infrastructures (PFMIs) (April 2012) : International standards for payment systems (PS), central securities depositories (CSDs), securities settlement systems (SSSs) and central counterparties (CCPs). They also incorporate additional guidance for over‑the‑counter (OTC) derivatives CCPs and trade repositories (TRs) http://www.bis.org/cpmi/publ/d101a.pdf
CPMI-IOSCO Principles for Financial Market Infrastructures, Disclosure framework and assessment methodology (December 2012) : Framework prescribing the form and content of the disclosures expected of FMIs, while the assessment methodology provides guidance to assessors for evaluating observance of the principles and responsibilities set forth in the PFMI. http://www.bis.org/cpmi/publ/d106.pdf
CPMI-IOSCO Recovery of financial market infrastructures (October 2014) : Guidance for FMIs and authorities on the development of comprehensive and effective recovery plans. http://www.bis.org/cpmi/publ/d121.pdf
CPMI-IOSCO Guidance on cyber resilience for financial market infrastructures (June 2016) : Requires FMIs to instil a culture of cyber risk awareness and to demonstrate ongoing re‑evaluation and improvement of their cyber resilience posture at every level within the organisation. http://www.bis.org/cpmi/publ/d146.pdf
ECB Cyber Resilience Oversight Expectations for FMIs (CROE, December 2018) : The CROE provides overseers with a framework to assess the cyber resilience of systems under their responsibility and to enable FMIs to enhance their cyber resilience. https://www.ecb.europa.eu/paym/pdf/cons/cyberresilience/Cyber_resilience_oversight_expectations_for_financial_market_infrastructures.pdf
CCPs European Market Infrastructure Regulation (EMIR) : Regulation (EU) No 648 / 2012 of 4 July 2012 on OTC derivatives, CCPs and TRs : EMIR sets a clearing obligation for standardised OTC derivatives and strict CCP risk management requirements, and requires the recognition and ongoing supervision of CCPs.http://eur‑lex.europa.eu/legal‑content/EN/TXT/PDF/?uri=CELEX:32012R0648&from=EN
Annex 1: Regulatory frameworkCSDs
72 Annex 1: Regulatory frameworkCSDs ¡ Financial Market Infrastructures and Payment Services
CCPs CPMI-IOSCO Public quantitative disclosure standards for CCPs (February 2015) : Public quantitative disclosure standards that CCPs are expected to meet. These standards complement the Disclosure framework published by CPMI‑IOSCO in December 2012. http://www.bis.org/cpmi/publ/d125.pdf
EMIR Regulatory Technical Standards (August 2015) : Regulation (EU) 2015 / 2205 of 6 August 2015 supplementing Regulation (EU) No. 648 / 2012 with regard to regulatory technical standards on the clearing obligation. http://eur‑lex.europa.eu/legal‑content/EN/TXT/PDF/?uri=CELEX:32015R2205&from=EN
CPMI-IOSCO Resilience of CCPs : Further guidance on the PFMI (July 2017) : Guidance providing further clarity and granularity on several key aspects of the PFMI to further improve CCP resilience. https://www.bis.org/cpmi/publ/d163.pdf
CSDs CSD Regulation (CSDR) : Regulation (EU) No. 909 / 2014 of 23 July 2014 on improving securities settlement in the EU and on CSDs and amending Directives 98 / 26 / EC and 2014 / 65 / EU and Regulation (EU) No. 236 / 2012 : Prudential requirements on the operation of (I)CSDs, as well as specific prudential requirements for (I)CSDs and designated credit institutions offering banking‑type ancillary services.http://eur‑lex.europa.eu/legal‑content/EN/TXT/PDF/?uri=CELEX:32014R0909&from=en
Regulation (EU) 2017 / 389 of 11 November 2016 supplementing Regulation (EU) No 909/2014 as regards the parameters for the calculation of cash penalties for settlement fails and the operations of CSDs in host Member Stateshttp://eur‑lex.europa.eu/legal‑content/EN/TXT/PDF/?uri=CELEX:32017R0389&from=EN
Regulation (EU) 2017 / 390 of 11 November 2016 supplementing Regulation (EU) No 909 / 2014 with regard to regulatory technical standards on certain prudential requirements for CSDs and designated credit institutions offering banking-type ancillary serviceshttps://eur‑lex.europa.eu/legal‑content/EN/TXT/PDF/?uri=CELEX:32017R0390&from=EN
Regulation (EU) 2017 / 392 of 11 November 2016 supplementing Regulation (EU) No 909 / 2014 with regard to regulatory technical standards on authorisation, supervisory and operational requirements for CSDshttp://eur‑lex.europa.eu/legal‑content/EN/TXT/PDF/?uri=CELEX:32017R0392&from=EN
Custodians Regulation (EU) 2017 / 391 of 11 November 2016 supplementing Regulation (EU) No 909 / 2014 with regard to regulatory technical standards further specifying the content of the reporting on internalised settlements : Reporting obligation for settlement internalisers when settlement instructions are executed in their own books, outside securities settlement systems.https://eur‑lex.europa.eu/legal‑content/EN/TXT/PDF/?uri=CELEX:32017R0391&from=EN
732019 ¡ Annex 1: Regulatory frameworkCSDs
Belgian law of 31 July 2017 : Law introducing a new category of credit institutions with activities exclusively in the area of custody, bookkeeping and settlement services in financial instruments, as well as non‑banking services relating thereto, in addition to receiving deposits or other repayable funds from the public and granting credit for own account where such activities are ancillary or linked to the above‑mentioned services. http://www.ejustice.just.fgov.be/cgi_loi/change_lg.pl?language=nl&la=N&cn=2017073111&table_name=wet / language=fr&la=F&cn=2017073111&table_name=loi
ESMA Guidelines on Internalised Settlement Reporting under Article 9 of CSDR (March 2018) https://www.esma.europa.eu/press‑news/esma‑news/esma‑finalises‑guidelines‑how‑ report‑internalised‑settlement
Payment Systems
ECB Regulation (EU) No 795 / 2014 on oversight requirements for systemically important payment systems (July 2014) : Regulation, based on the CPMI‑IOSCO PFMIs, covering systemically important payment systems in the eurozone, large‑value and retail payment systems.https://www.ecb.europa.eu/ecb/legal/pdf/oj_jol_2014_217_r_0006_en_txt.pdf
Revised oversight framework for retail payment systems (RPS) (February 2016) : Revised framework (replacing the one from 2003) identifying RPS categories and clarifying the oversight standards applicable to each category. It also provides guidance on the organisation of oversight activities for systems of relevance to more than one central bank. https://www.ecb.europa.eu/pub/pdf/other/revisedoversightframeworkretailpayment systems201602.en.pdf?bc332d9a718f5336b68bb904a68d29b0
PIs & ELMIs EMD2 (September 2009) : Directive 2009 / 110 / EC of 16 September 2009 on the taking up, pursuit and prudential supervision of the business of ELMIs amending Directives 2005 / 60 / EC and 2006 / 48 / EC and repealing Directive 2000 / 46 / EC, OJ. 10 October 2009, L. 267, 7‑17.http://eur‑lex.europa.eu/legal‑content/EN/TXT/PDF/?uri=CELEX:32009L0110&from=EN
PSD2 (November 2015) : Directive (EU) 2015 / 2366 of 25 November 2015 on payment services in the internal market, amending Directives 2002 / 65 / EC, 2009 / 110 / EC and 2013 / 36 / EU and Regulation (EU) No 1093 / 2010, and repealing Directive 2007 / 64 / EC. http://eur‑lex.europa.eu/legal‑content/EN/TXT/?uri=CELEX%3A32015L2366
Belgian Law of 11 March 2018 transposing the PSD2, Belgian Official Gazette 26 March 2018. http://www.ejustice.just.fgov.be/cgi_loi/change_lg.pl?language=nl&la=N&cn=2018031107&table_name=wet / language=fr&la=F&cn=2018031107&table_name=loi
Payement Processors
Belgian Law of 24 March 2017 on supervision of payment transactions processors, Belgian Official Gazette 24 April 2017.https://www.nbb.be/doc/cp/moniteur/2017/20170424_opp_wet_loi.pdf
74 Annex 1: Regulatory frameworkCSDs ¡ Financial Market Infrastructures and Payment Services
Royal Decree of 8 February 2019 on the requirements for processors of retail payments instruments and card payments schemes (CPS) having established a relation with them on the due diligence that CPS must have in place when using the services of systemically relevant payment processors, the identification and management of the risks by those processors, the continuity of their services and the practical modalities of the communication in case of an incident. http://www.ejustice.just.fgov.be/eli/arrete/2019/01/25/2019030120/moniteur (FR) orhttp://www.ejustice.just.fgov.be/eli/besluit/2019/01/25/2019030120/staatsblad (NL)
Card Payment Schemes
Eurosystem Oversight Framework for Card Payment Schemes (CPSs) – Standards (January 2008) : Common oversight policy to promote the reliability of CPSs operating in the euro area, public confidence in card payments and a level playing field across the euro area in a unified market.https://www.ecb.europa.eu/pub/pdf/other/oversightfwcardpaymentsss200801en.pdf
Guide for the assessment of CPS against the oversight standards (February 2015) : Assessment guide based on the Eurosystem Oversight Framework for CPSs targeting both governance authorities responsible for ensuring compliance and overseers of CPSs It has been updated by taking into account the January 2013 “Recommendations for the security of internet payments”, as well as the February 2014 “Assessment guide for the security of internet payments”. https://www.ecb.europa.eu/pub/pdf/other/guideassessmentcpsagainstoversightstandards 201502.en.pdf?499089f7f3aab273925ef6d80767b4a5
Regulation (EU) 2015 / 751 of 29 April 2015 on interchange fees for card-based payment transactions (OJ. 19 May 2015, L. 123, 1‑15) : This regulation contains (i) the definition of a cap for the interchange fees applicable to payment transactions by means of debit or credit cards, (ii) the separation to be put in place between payment card scheme governance activities and processing activities, (iii) measures granting more autonomy to merchants regarding the choice of payment instruments for their clients. http://eur‑lex.europa.eu/legal‑content/EN/TXT/PDF/?uri=CELEX:32015R0751&from=EN
Belgian Law of 1 December 2016 transposing the EU Regulation 2015 / 751 of 29 April 2015, entitled “Interchange fees for card based payment transactions” (December 2016) : Belgian Official Gazette 15 December 2016, 86.578. http://www.ejustice.just.fgov.be/cgi_loi/change_lg.pl?language=nl&la=N&cn=2016120112&table_name=wet / language=fr&la=F&cn=2016120112&table_name=loi
Regulation (EU) 2018 / 72 of 4 October 2017 supplementing Regulation (EU) 2015 / 751 on interchange fees for card-based payment transactions with regard to regulatory technical standards establishing the requirements to be complied with by payment card schemes and processing entities to ensure the application of independence requirements in terms of accounting, organisation and decision-making process OJ. 18 January 2018, L. 13 / 1-7.http://eur‑lex.europa.eu/legal‑content/EN/TXT/PDF/?uri=CELEX:32018R0072&rid=3
SWIFT High level expectations (HLE) for the oversight of SWIFT (June 2007) : The SWIFT Cooperative Oversight Group developed a specific set of principles that apply to SWIFT. https://www.nbb.be/en/financial‑oversight/oversight/critical‑service‑providers#oversight‑ of‑swift‑
752019 ¡ Annex 1: Regulatory frameworkCSDs
SWIFT PFMIs, Annex F : Oversight expectations applicable to critical service providers (April 2012) : Expectations for an FMI’s critical service providers in order to support the FMI’s overall safety and efficiency. http://www.bis.org/cpmi/publ/d101a.pdf
Assessment methodology for the oversight expectations applicable to critical service providers (December 2014) : Assessment methodology and guidance for regulators, supervisors and overseers in assessing an FMI’s critical service providers against the oversight expectations in Annex F. http://www.bis.org/cpmi/publ/d123.pdf
772019 ¡ Annex 2 : FMIs established in Belgium with an international dimension
Annex 2 : FMIs established in Belgium with an international dimension
Euroclear
Euroclear Holding SA / NV, the new top financial holding of Euroclear, is incorporated under Belgian law. Euroclear Holding SA / NV owns 100 % of Euroclear AG, a new Swiss financial holding company. Euroclear Investments SA is the group’s financial investment holding company, incorporated in Luxembourg.
Euroclear SA / NV (ESA), a Belgian financial holding company, is the parent company of the Euroclear Group (I)CSDs ; i.e. the three ESES CSDs (Euroclear France, Euroclear Netherlands, Euroclear Belgium), Euroclear UK & Ireland Ltd, Euroclear Sweden AB, Euroclear Finland Oy and Euroclear Bank SA / NV. The latter has branches in Poland,
Euroclear Group Corporate Structure(simplified diagram)
EuroclearInvestments SA
Euroclear Settlement for Euronext Securities (ESES)
Euroclear Bank Representative Offices
LuxembourgEuroclear SA / NV
Representative Office
Euroclear SA / NV
Euroclear France
Euroclear Belgium
Euroclear Nederland
Singapore
Euroclear Bank SA / NV
EuroclearBank SA / NV
PolandBranch
EuroclearBank SA / NVHong Kong
Branch
Euroclear Sweden AB
Euroclear Finland Oy
Euroclear UK & Ireland Ltd
Euroclear SA / NV Amsterdam Branch
Euroclear SA / NV London Branch
Euroclear SA / NV Paris Branch
BeijingDubaiFrankfurtNew YorkEuroclear
Bank SA / NVJapanBranch
Euroclear AG
Euroclear Holding SA / NV
Source : Euroclear.
78 Annex 2 : FMIs established in Belgium with an international dimension ¡ Financial Market Infrastructures and Payment Services
Hong Kong and Japan. Euroclear Group (I)CSDs have outsourced the IT production and development to ESA. ESA also delivers common services, such as risk management, internal audit, and legal and human resources services to the Group (I)CSDs.
Bank of New York Mellon
The Bank of New York Mellon SA / NV (BNYM), established in Belgium, is the European subsidiary of BNY Mellon, a US based global systemic bank, which in turn is a subsidiary of the US holding company BNY Mellon Corporation. BNYM is the global custodian of the group for European clients (i.e. providing investment services on 100+ markets outside the US) and its European gateway to the euro area markets and payment infrastructures. BNYM has a non‑bank subsidiary in Germany and branches in Luxembourg, Germany, the Netherlands, the UK, France, Ireland and Italy, through which it operates in the local markets. This is the result of the BNYM Group’s strategy to consolidate its legal entity structure into the so‑called “Three Bank Model” (i.e. US / UK / EU). The BNYM group is also present in Belgium through a branch of the US parent company.
BNYM Group structure and BNYM SA / NV position(simplified diagram)
The Bank of New York Mellon Corporation
(Delaware Corporation)
The Bank of New York Mellon(US Bank)
The Bank of New York Mellon (International) Limited
(UK Bank)Luxembourg Branch
Frankfurt Branch
Frankfurt Branch
Amsterdam Branch
London Branch
London Branch
Paris Branch
Dublin Branch
Milan Branch
The Bank of New York MellonSA / NV
(Belgian Bank)
The Bank of New YorkMellonServiceKapitalverwaltungs-
gesellschaft (BNYM KVG)
Brussels Branch
Source : NBB.
792019 ¡ Annex 2 : FMIs established in Belgium with an international dimension
Worldline
Worldline, a division of the European IT services corporation Atos, provides electronic payment and transactional services in about 29 countries. Worldline SA is listed on Euronext Paris. In 2016, Worldline SA / NV, the Belgian entity of the group merged with the Dutch company Equens. The processing activities were carved out in a new entity called equensWorldline SE. equensWorldline SE is a partial subsidiary of several Worldline entities (Belgium, Luxembourg, France and Germany) with its historic shareholders now as minority shareholders. In 2018, Worldline acquired Six Payment Services, the payment division of the Swiss company SIX, which became shareholder (27 %) of Worldline SA.
Structure of Worldline, a division of the Atos Group(simplified diagram, part of the group relevant for Belgium)
Atos SE (France)
Worldline SA(France)
Worldline SA / NV(Belgium)
Equens Worldline SE(Netherlands)
Total WorldlineGroup = 63,60 %
Public
Worldline Holding GmbH (Germany)
Worldline SA(Luxembourg)
Worldline BV(Netherlands)
Paysquare SE(Netherlands)
Other Equensshareholders
22 %51 %
SIX(Switzerland)
27 %
100 % 100 % 100 %
23,24 % 0,15 % 17,07 %
23,14 %
100 %
100 %
36,40 %
Source : NBB.
80 Annex 2 : FMIs established in Belgium with an international dimension ¡ Financial Market Infrastructures and Payment Services
Mastercard Europe
Mastercard is a payment services company with a global reach. Mastercard Europe SA / NV (MCE) incorporated in Belgium, a subsidiary of Mastercard Incorporated (USA, listed on the New York Stock Exchange), runs the company’s business in the European region.
Mastercard Group Structure(simplified diagram, as of August 2017)
Mastercard Incorporate(US)
Mastercard International Incorporated (US)
Blackrock Inc.
Mastercard EuropeSA/NV (Belgium)
PublicThe Vanguard
Group Inc.Mastercard Foundation
> 5 % > 5 % > 10 % < 80 %
100 % (directly held)
100 % (indirectly held)
Source : NBB.
812019 ¡ Annex 3 : Statistics
Annex 3 : Statistics
List of tables
Tables relating to Securities Clearing, Settlement and Custody 83
A. Central Counterparties (CCPs) (selected) 83B. Euroclear Bank 84C. NBB‑SSS 84D. Euroclear Belgium 84E. TARGET2‑Securities 84F. BNYM SA / NV 84
Tables relating to Payments 85
A. TARGET2 85B. CLS Bank 85C. Centre for Exchange and Clearing (CEC) 85D. Payment institutions (PIs) – Electronic Money Institutions (ELMIs) 86E. Processors of payment transactions (Worldline SA / NV) 86F. Card transactions 87G. Card schemes (Bancontact) 87
Table relating to SWIFT 88
832019 ¡ Annex 3 : Statistics
Tab
le 1
Secu
riti
es C
lear
ing
, Se
ttle
men
t an
d C
ust
od
y(n
otio
nal v
alue
cle
ared
, ye
arly
tot
al in
€ t
rillio
n eq
uiva
lent
)
2013
2014
2015
2016
2017
2018
A.
Cen
tral
Co
un
terp
arti
es (
CC
Ps)
(sel
ecte
d)
LCH
.Cle
arn
et L
td (
UK
)
Swap
clea
r (in
clud
ing
Inte
rest
Rat
e Sw
aps,
For
war
d Ra
te A
gree
men
ts)
362
503
489
626
807
937
Repo
clea
r (re
pos)
4041
4037
4449
LCH
.Cle
arn
et S
A (
FR)
Cre
dit
Def
ault
Swap
s (C
DSC
lear
)0.
20.
10.
20.
40.
60.
6
Repo
clea
r (re
pos)
3533
3334
4850
Eure
x C
lear
ing
AG
(D
E)
Inte
rest
Rat
e Sw
aps
0.0
0.1
0.2
0.9
1.4
1.4
Repo
s97
102
8965
48na
v
Sour
ces :
CC
P w
ebsi
tes,
NBB
cal
cula
tions
.
84 Annex 3 : Statistics ¡ Financial Market Infrastructures and Payment Services
Tab
le 1
(co
ntin
ued)
Secu
riti
es C
lear
ing
, Se
ttle
men
t an
d C
ust
od
y(y
early
tot
al in
€ b
illio
n eq
uiva
lent
, un
less
oth
erw
ise
stat
ed)
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
B.
Euro
clea
r B
ank
Val
ue
of
secu
riti
es d
epo
sits
(en
d of
per
iod)
9 83
2.2
10 4
53.8
10 7
66.3
10 8
37.2
10 8
34.2
11 7
65.3
12 3
93.7
12 6
98.4
12 8
34.2
13 4
51.5
Nu
mb
er o
f tr
ansa
ctio
ns
(in m
illio
ns)
39.3
47.7
59.4
64.2
69.5
75.2
83.3
84.1
95.4
107.
0
Val
ue
of
tran
sact
ion
s21
9 90
4.5
265
819.
632
8 47
5.9
307
109.
833
6 78
4.6
394
569.
344
2 56
3.0
451
698.
349
8 18
1.0
525
692.
4
Sour
ce :
Euro
clea
r.
C.
NB
B‑S
SS
Val
ue
of
secu
riti
es d
epo
sits
(en
d of
per
iod)
469.
349
4.0
513.
353
1.2
541.
755
7.3
575.
461
2.5
625.
363
2.6
Nu
mb
er o
f tr
ansa
ctio
ns
(in m
illio
ns)
0.3
0.4
0.5
0.6
0.6
0.6
0.5
0.5
0.5
0.5
Val
ue
of
tran
sact
ion
s 17
408.
19
049.
614
133
.910
250
.18
428.
08
209.
08
766.
58
714.
39
069.
811
043
.7
Sour
ce :
NBB
.1
Seco
ndar
y m
arke
t tu
rnov
er.
D.
Euro
clea
r B
elg
ium
Val
ue
of
secu
riti
es d
epo
sits
(en
d of
per
iod)
139.
916
2.0
130.
415
6.8
202.
722
2.1
269.
423
5.1
237.
717
8.0
Nu
mb
er o
f tr
ansa
ctio
ns
(in m
illio
ns)
1.9
1.8
1.9
1.9
1.9
2.1
2.5
2.4
2.5
2.7
Val
ue
of
tran
sact
ion
s39
8.5
497.
758
8.0
563.
679
9.8
714.
894
4.6
963.
894
6.0
964.
1
Sour
ce :
Euro
clea
r.
E.
TAR
GET
2‑Se
curi
ties
Nu
mb
er o
f tr
ansa
ctio
ns
(in m
illio
ns)
nap
nap
nap
nap
nap
nap
7.6
36.3
125.
614
5.9
Val
ue
of
tran
sact
ion
sn
apn
apn
apn
apn
apn
ap43
706
.811
2 06
6.0
192
175.
023
6 05
0.8
Sour
ce :
ECB.
F.
BN
YM
SA
/ NV
Val
ue
of
asse
ts h
eld
un
der
cu
sto
dy
(end
of
perio
d)2
480.
82
928.
92
667.
82
861.
92
905.
23
454.
0 3
216.
43
476.
53
608.
82
373.
1
Sour
ce :
BNY
M.
852019 ¡ Annex 3 : Statistics
Tab
le 2
Paym
ents
(yea
rly t
otal
in €
bill
ion
equi
vale
nt,
unle
ss o
ther
wis
e st
ated
)
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
A.
TAR
GET
2
Val
ue
of
pay
men
ts53
6 02
7.1
631
440.
065
1 27
4.9
711
025.
855
9 69
6.0
498
726.
550
8 98
2.3
485
811.
843
2 78
0.7
432
508.
1
of w
hich
: TA
RGET
2‑BE
20 8
35.2
20 1
99.7
22 1
63.2
18 7
12.6
16 1
77.3
16 2
47.9
15 6
27.4
16 9
57.9
19 7
32.4
22 5
94.7
Nu
mb
er o
f p
aym
ents
(in
mill
ions
)87
.887
.289
.089
.691
.387
.888
.689
.089
.388
.4
of w
hich
: TA
RGET
2‑BE
2.1
2.4
2.6
2.5
2.3
2.5
2.3
2.2
2.3
2.3
Sour
ce :
ECB
Paym
ent
Stat
istic
s. R
TGS
rela
ted
paym
ents
, ex
clud
ing
TARG
ET2
tran
sact
ions
on
Ded
icat
ed C
ash
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ount
s.
Last
yea
r’s f
igur
es f
rom
htt
ps://
ww
w.e
cb.e
urop
a.eu
/sta
ts/p
aym
ent_
stat
istic
s/la
rge_
valu
e_pa
ymen
t_sy
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B.
CLS
Ban
k
Val
ue
of
pay
men
ts (
in €
tril
lion)
607
499.
978
1 42
6.9
893
590.
487
8 46
9.0
897
145.
61
042
062.
31
118
933.
91
162
359.
81
193
728.
31
282
149.
3
of w
hich
: EU
R pa
ymen
ts13
1 66
5.9
161
791.
118
2 48
2.0
185
881.
318
2 30
5.8
191
170.
520
8 55
5.8
204
370.
721
9 92
4.6
241
067.
1
Nu
mb
er o
f p
aym
ents
(in
mill
ions
)15
0.1
198.
120
6.9
176.
620
5.0
204.
721
9.1
209.
519
8.5
226.
6
of w
hich
: EU
R pa
ymen
ts31
.842
.245
.537
.436
.934
.440
.934
.334
.039
.1
Sour
ce :
CLS
.
C.
Cen
tre
for
Exch
ang
e an
d C
lear
ing
(C
EC)
Val
ue
of
pay
men
ts80
4.9
846.
988
6.7
909.
191
1.6
870.
788
3.4
920.
694
1.8
1 12
2.9
Nu
mb
er o
f p
aym
ents
(in
mill
ions
)1
122.
91
170.
21
224.
91
295.
11
365.
61
272.
21
402.
21
387.
11
312.
01
456.
7
Sour
ce :
NBB
.
86 Annex 3 : Statistics ¡ Financial Market Infrastructures and Payment Services
Tab
le 2
(co
ntin
ued
1)
Paym
ents
(end
of
perio
d, in
cum
ulat
ive
num
ber,
unle
ss o
ther
wis
e st
ated
)
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
D.
Paym
ent
Inst
itu
tio
ns
(PIs
) –
El
ectr
on
ic M
on
ey I
nst
itu
tio
ns
(ELM
Is)
PIs
Belg
ian
PIs
01
99
1115
1721
2422
Fore
ign
PIs
with
Bel
gian
bra
nch
00
02
23
33
23
Pass
port
not
ifica
tions
for
cro
ss‑b
orde
r se
rvic
es
Belg
ian
PIs
tow
ards
oth
er E
EA c
ount
ries
011
1919
2641
6516
221
824
8
Fore
ign
EEA
PIs
tow
ards
Bel
gium
2247
104
133
184
262
273
379
421
435
ELM
Is Belg
ian
ELM
Is4
66
610
1010
88
7
Fore
ign
ELM
Is w
ith B
elgi
an b
ranc
h0
00
00
11
11
2
Pass
port
not
ifica
tions
for
cro
ss‑b
orde
r se
rvic
es
Belg
ian
ELM
Is t
owar
ds o
ther
EEA
cou
ntrie
s12
1518
1943
4569
7072
72
Fore
ign
EEA
ELM
Is t
owar
ds B
elgi
um7
814
2840
5453
102
156
188
Inst
itutio
ns o
ffer
ing
serv
ices
with
in a
lim
ited
netw
ork
(new
und
er P
SD2)
nav
nav
nav
nav
nav
nav
nav
nav
nav
1
Tran
sact
ion
s b
y B
elg
ian
PIs
an
d E
LMIs
(in
mill
ions
)
Num
ber
of t
rans
actio
ns (
year
ly t
otal
)na
vna
vna
vna
v1
665
1 87
41
968
2 15
52
006
2 04
4
Valu
e of
tra
nsac
tions
in e
uro
(yea
rly t
otal
)na
vna
vna
vna
v10
5 98
913
3 51
313
6 56
713
7 14
412
4 38
812
4 48
5
Ave
rage
out
stan
ding
E‑M
oney
of
Belg
ian
ELM
Isna
vna
vna
vna
v15
.221
.835
.845
.573
.911
6.6
Sour
ce :
NBB
.
E.
Pro
cess
ors
of
pay
men
t tr
ansa
ctio
ns
Wo
rld
line
SA / N
V
Num
ber
of t
rans
actio
ns (
year
ly t
otal
, in
mill
ions
)1
230.
11
295.
51
387.
61
473.
71
553.
91
665.
81
800.
01
960.
02
150.
0na
v
Sour
ce :
Wor
ldlin
e.
872019 ¡ Annex 3 : Statistics
Tab
le 2
(co
ntin
ued
2)
Paym
ents
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
F.
Car
d t
ran
sact
ion
s
Nu
mb
er o
f ca
rds
issu
ed b
y re
sid
ent
pay
men
t se
rvic
e p
rovi
der
s –
Car
ds
wit
h a
cas
h f
un
ctio
n
Num
ber
of c
ards
(in
tho
usan
ds o
f nu
mbe
rs,
end
of p
erio
d)20
005
.19
20 6
47.0
820
041
.34
21 3
96.5
421
870
.76
22 5
93.1
322
362
.50
nav
Num
ber
of c
ards
per
cap
ita (
end
of p
erio
d)1.
821.
871.
801.
921.
952.
002.
00na
v
POS
tran
sact
ion
s at
ter
min
als
p
rovi
ded
by
resi
den
t PS
Ps
Num
ber
of p
aym
ent
tran
sact
ions
per
car
d –
W
ith c
ards
issu
ed b
y re
side
nt P
SPs
(yea
rly t
otal
)52
.41
54.2
60.2
58.4
61.8
67.4
75.2
nav
Valu
e of
pay
men
t tr
ansa
ctio
ns p
er c
ard
–
With
car
ds is
sued
by
resi
dent
PSP
s (y
early
tot
al,
in €
)2
752.
942
838.
923
091.
492
906.
162
948.
403
094.
63
343.
8na
v
Tran
sact
ion
s p
er c
apit
a
Num
ber
of c
ard
paym
ents
–
With
car
ds is
ssue
d by
res
iden
t PS
Ps 1 (
year
ly t
otal
)10
5.15
111.
012
0.0
135.
213
8.9
151.
016
6.7
nav
Valu
e of
car
d pa
ymen
ts –
W
ith c
ards
issu
ed b
y re
side
nt P
SPs 1
(y
early
tot
al,
in €
tho
usan
ds)
5.77
6.1
6.4
6.6
6.9
7.1
7.7
nav
Sour
ce :
ECB
Paym
ent
Stat
istic
s.1
Exce
pt c
ards
with
an
e‑m
oney
fun
ctio
n on
ly.
G.
Car
d s
chem
es
Ban
con
tact
– N
um
ber
of
tran
sact
ion
s
(yea
rly t
otal
, in
mill
ions
)1
076.
41
136.
41
180.
41
241.
81
306.
71
389.
51
441.
61
480.
2
of w
hich
:
Reta
il pa
ymen
ts97
3.4
1 02
8.9
1 06
8.4
1 12
5.9
1 19
0.9
1 27
2.8
1 32
5.2
1 33
6.0
ATM
103.
010
7.5
111.
911
5.9
115.
911
6.8
116.
311
4.2
Sour
ce :
Banc
onta
ct.
88 Annex 3 : Statistics ¡ Financial Market Infrastructures and Payment Services
Tab
le 3
SWIF
T(y
early
tot
al,
in m
illio
ns)
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
Nu
mb
er o
f m
essa
ges
3 76
0.3
4 03
1.9
4 43
3.9
4 58
9.1
5 06
5.7
5 61
2.7
6 10
6.6
6 52
5.8
7 07
6.5
7 87
3.6
of
wh
ich
:
Paym
ent
mes
sage
s1
933.
92
041.
42
157.
52
314.
42
524.
52
737.
22
930.
23
139.
33
485.
23
840.
0
Secu
ritie
s m
essa
ges
1 58
3.5
1 72
3.2
1 94
5.9
1 97
5.3
2 21
5.6
2 54
5.2
2 82
9.1
3 01
9.1
3 23
2.3
3 63
5.5
Oth
er m
essa
ges
242.
926
7.3
330.
529
9.4
325.
633
0.3
347.
336
7.3
359.
039
8.1
Sour
ce :
SWIF
T.
892019 ¡ List of abbreviations
List of abbreviations
AISP Account information service providerASPSP Account servicing payment service provider
BNYM Bank of New York Mellon
CCP Central counterpartyCEC Centre for Exchange and ClearingCLS Continuous Linked SettlementCPMI Committee on Payments and Market InfrastructuresCSDR CSD RegulationCSD Central Securities Depository
DvP Delivery versus payment
EBA European Banking AuthorityECB European Central BankEEA European Economic AreaELMI Electronic money institutionEMD Electronic Money DirectiveEMEA Europe, Middle East and AfricaEMIR European Market Infrastructure RegulationEPC European Payments CouncilESA Euroclear SA/NVESCB European System of Central BanksESES Euroclear Settlement of Euronext‑zone SecuritiesESMA European Securities and Markets Authority
FMI Financial market infrastructureFSB Financial Stability BoardFSMA Financial Services and Markets Authority
G‑SiFI Global systemically important financial institution
ICSD International central securities depositoryIFR Regulation on interchange fees for card‑based payment transactionsIOSCO International Organisation of Securities CommissionsISAC Information sharing and analysis centre
90 List of abbreviations ¡ Surveillance of financial market infrastructures, payment services and cyber risks
LSE London Stock ExchangeLSI Less significant institutionLVPS Large‑value payment system
MCE MasterCard EuropeMoU Memorandum of Understanding
NCA National competent authorityNCB National central bank
ORPS Other retail payment systemO‑SII Other systemically important institutionOTC Over the counter
PFMIs CPMI‑IOSCO Principles for FMIsPI Payment institutionPISP Payment initiation service providerPOS Point of salePSD Payment Services DirectivePSP Payment Service ProviderPvP Payment versus payment
RPS Retail payment system
SCT Inst SEPA instant credit transferSEPA Single European Payments AreaSI Systemically‑relevant credit institutionSIPS Systemically important payment systemSSM Single supervisory mechanismSSS Securities settlement systemSWIFT Society for Worldwide Interbank Financial Telecommunication
T2 TARGET2T2S TARGET2‑Securities
National Bank of Belgium Limited liability company RLP Brussels – Company number : 0203.201.340 Registered office : boulevard de Berlaimont 14 – BE ‑1000 Brussels www.nbb.be
Publisher
Tim HermansExecutive Director
National Bank of Belgium Boulevard de Berlaimont 14 – BE ‑1000 Brussels
Contact for the publication
Johan PissensDeputy Director Surveillance of financial market infrastructures, payment services and cyber risks
Tel. +32 2 221 20 57 [email protected]
© Illustrations : National Bank of Belgium
Cover and layout : NBB AG – Prepress & Image
Published in June 2019
Printed on FSC paper