Banking and payments

Oversight of Kronos2


Abstract icon Danmarks Nationalbank oversees the Kronos2 payment system, which is used for real-time settlement of individual, large or time-critical payments in Danish kroner. One element of this oversight is to assess Kronos2 according to international principles for safe and efficient financial market infrastructures.

Oversight of Kronos2 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 Kronos2 is to assess whether Kronos2 complies with international principles for safe and efficient financial market infrastructures. A review of Kronos was made in 2016. Kronos was replaced with Kronos2 on 20 August 2018. Kronos2 is designed to comply with international standards. An overall assessment of Kronos2 will be prepared.

Oversight reporting

The activities in relation to current oversight of Kronos2 are described in the annual oversight report, Oversight of the Financial Infrastructure.​

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More information

Assessments

Kronos2

Kronos2 is Danmarks Nationalbank's system for settlement of large, time-critical payments in Danish kroner. The system is used for settlement of e.g. monetary-policy transactions, interbank payments and payments in other systems within the financial infrastructure, including the Sum Clearing, the Intraday Clearing, the Express Clearing, VP settlement and CLS. Kronos2 is at the hub of the Danish payments infrastructure, so it is important that Kronos2 is safe and efficient.​