In line with the Treaty on the Functioning of the European Union and Protocol No 4 of the Statute of the European System of Central Banks and the European Central Bank, safe and efficient financial market infrastructures are necessary for the reliable transfer of funds and securities, the smooth implementation of monetary policy and financial stability.
The Eurosystem provides financial market infrastructures for payment and securities settlement, and engages in discussions with market participants to facilitate the further integration of financial markets in Europe.
Against this background, the Advisory Group on Market Infrastructures for Payments (AMI-Pay) has been established at a European level as the body responsible for exchanging views with, and advising, the Eurosystem on matters related to payments. In its capacity as an advisory group, the AMI-Pay assists the Eurosystem in promoting the smooth operation of financial market infrastructures facilitating an active dialogue with market participants, with a view to foster financial market integration in the field of payments and to provide advice on market infrastructures managed by the Eurosystem.
The Advisory Groups on Market Infrastructures for Payments National Stakeholder Groups (ΑΜΙ-Pay NSGs) support the AMI-Pay in fulfilling its roles and responsibilities and provide input to the work of the AMI-Pay, as set out in the AMI-Pay mandate. They are responsible for providing input from national markets, forming the link between the latter and AMI-Pay. Their responsibilities, tasks and principles are specified in the AMI-Pay NSGs mandate.
The AMI-Pay GR-NSG is the forum responsible for involving national stakeholders in the work of the AMI-Pay, establishing the formal link between the AMI-Pay and the Greek market in the field of payments, as well as on matters related to payments and market infrastructures operated by the Eurosystem. It represents the interests of the Greek market participants and is actively involved in the collection and/or evaluation of their requests regarding payments and payment systems. In this context, it acts both as a sounding board for AMI-Pay in the Greek market and also as a feedback provider of the latter to the AMI-Pay in relation to all relevant matters.
The AMI-Pay GR-NSG brings together the Bank of Greece, representatives of Greek payment service providers (PSPs), and other stakeholders (e.g. payment and settlement systems, public authorities, indirectly affected parties). It is the successor of the TARGET2-GR National User Group (T2-GR-NUG) and holds regular meetings under the chairmanship and secretariat of the Bank of Greece.