One of the key tasks of the national central banks is to establish and maintain a secure and effective payment system. Such a payment system plays an important role in the development of the country's financial sector, ensuring non-cash settlements between credit institutions and other financial institutions. Only through an effective payment system can the national central banks also fulfil their main task of implementing the monetary policy. The two key elements of a national payment system are financial institutions and the system's infrastructure (its technical and administrative management).
System maintenance
Published: 28.12.2013
Updated: 02.02.2021
Latvijas Banka organises and maintains this infrastructure by approving the regulations governing its operations, analysing and forecasting the potential developments, participating in the technical development of the infrastructure to ensure maximum efficiency of the payment system. Latvijas Banka maintains two fully automated payment systems helping to ensure interbank settlements in euro.