Pursuant to Article 2, paragraph (3), point c), Article 7, point b), and Article 58 and Article 70 of the Law on the Central Bank of Bosnia and Herzegovina ("Official Gazette of Bosnia and Herzegovina", No. 1/97, 29/02, 8/03, 13/03, 14/03, 9/05, 76/06 and 32/07), the Central Bank of Bosnia and Herzegovina (hereinafter: CBBH) performs oversight of payment systems functioning.

The goal of oversight  of payment systems is to ensure and improve the security and efficiency of payment systems functioning and smooth execution of payment transactions in Bosnia and Herzegovina, whereby the CBBH contributes to financial stability in Bosnia and Herzegovina.

The scope of oversight are payment systems that the CBBH, in accordance with the Article 2, paragraph (3) point c) of the Law on the Central Bank of Bosnia and Herzegovina, promotes or establishes and maintains, classified in such a way that they can be:

a) systemically important payment system - a payment system whose disruption in its work or in the work of its participants can cause serious disruptions in the financial system and can threaten financial stability;

b) important payment system - a payment system whose disruption in its work or in the work of its participants cannot cause serious disruptions in the financial system, but may lead to distrust of  participants and their clients in that system;

c) other payment system.

Real-time gross settlement system and giro clearing system, which are owned and operated by the CBBH, are classified as systemically important payment systems, in accordance with the Decision on methodology of oversight of payment systems.

The CBBH performs oversight of payment systems by:

a) monitoring of payment systems functioning,

b) assessing the observance of payment systems with the principles for payment systems functioning applied by the CBBH, as well as the regulations of other relevant international institutions that regulate the requirements for oversight of payment systems and

c) conducting catalyst activities.

Acts governing the field of monitoring payment systems are:

• Decision on oversight of payment systems functioning, number: UV-122-01-1-1909-9/22 from 27.10.2022. ("Official Gazette of Bosnia and Herzegovina", 76/22)

• Decision on methodology of oversight of payment systems, number: UV-122-01-1-1909-10/22 from 27.10.2022.