Payment & Settlement Systems
The Bank of Greece has explicit tasks in the field of payment systems according to its Statute which has been harmonised to the Statute of the ESCB and ECB. It may establish operating rules and oversee payment systems and settlement systems for over-the-counter transactions, with a view to ensuring the efficiency and soundness of these systems and in particular to reducing systemic risk and strengthening competition; the Bank may also manage such systems without prejudice to the rules applicable each time in the ESCB legal framework.
1) Large Value Payment System (TARGET2)
The Bank of Greece is the operator of the Greek component of the large value real-time gross settlement system
2) Retail Payment Systems
- Dias S.A: a private, multilateral netting retail payment system.
- Athens Clearing Office : a multilateral cheque clearing system operating at the premises and staffed with personnel of the Bank of Greece.
3) Securities Settlement Systems
- BOGS: a government securities settlement system situated at the premises and managed by the Bank of Greece.
- Securities Settlement Systems of the Athens Exchange: units of the Greek Exchanges SA, which perform clearing and settlement of the transactions carried out on the securities and derivatives markets of the Athens Exchange.