Banking and payments

Oversight of Kronos


Danmarks Nationalbank oversees the Kronos 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 Kronos according to international principles for safe and efficient financial market infrastructures.

Oversight of Kronos 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 Kronos is to assess whether Kronos complies with international principles for safe and efficient financial market infrastructures. The most recent Assessment of Kronos 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 of Kronos until 2013. 

Oversight reporting

The activities in relation to current oversight of Kronos 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.​

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More information

Assessments

Kronos

Kronos 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. Kronos is at the hub of the Danish payments infrastructure, so it is important that Kronos is safe and efficient.​