Oversight of retail payments


Danmarks Nationalbank oversees the Sum Clearing, the Intraday Clearing and the Express Clearing systems, which are used for settlement of retail payments. Oversight of these systems is based on international principles for safe and efficient financial market infrastructures.

Oversight of the Sum Clearing, the Intraday Clearing and the Express Clearing is based on the international Principles for Financial Market Infrastructures and takes place in accordance with Danmarks Nationalbank's Policy for Oversight of the Danish Financial Infrastructure.

Assessment reports
An important element of Danmarks Nationalbank's oversight of the Sum Clearing, the Intraday Clearing and the Express Clearing is to assess whether the systems comply with international principles for safe and efficient financial market infrastructures. The most recent assessment of the Sum Clearing was prepared on the basis of the Core Principles for Systemically Important Payment Systems, which were the point of departure for Danmarks Nationalbank's oversight until 2013.

The Intraday Clearing and the Express Clearing are new systems from subsequently 2013 and 2014, so no assessment reports have been prepared yet. Danmarks Nationalbank has contributed to the design of the systems based on the internationational principles. In future, Danmarks Nationalbank's assessments will be based on the Principles for Financial Market Infrastructures.

Oversight reporting

The activities in relation to current oversight of the Sum Clearing, the Intraday Clearing and the Express Clearing are described in the annual oversight publication, Oversight of the Financial Infrastructure in Denmark. Until and including 2010, Danmarks Nationalbank provided an account of its oversight in its Financial stability publication.

The sum Clearing, the Intraday Clearing and the Express Clearing

The Sum Clearing, the Intraday Clearing and the Express Clearing are the Danish systems for settlement and clearing of retail payments in Danish kroner. The systems are owned by the Finance Denmark and operated by Nets.