The Advisory Group on Market Infrastructures for Payments (AMI-Pay) has been established at European level with a mandate of facilitating an active dialogue with stakeholders and advising the Eurosystem on matters related to payments.
Its object is to foster financial market integration in the field of payments and to provide advice on market infrastructures managed by the Eurosystem.
Besides, the Eurosystem wishes to engage in dialogue with market participants in order to facilitate the further integration of financial markets in Europe.
According to 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.
In this context, AMI-Pay, as an advisory group for the payment-related market infrastructures, assists the Eurosystem in promoting the smooth operation of financial market infrastructures by facilitating an active dialogue with market participants.
The national advisory bodies – AΜΙ-Pay NSGs
The Advisory Groups on Market Infrastructures for Payments National Stakeholder Groups (ΑΜΙ-Pay NSGs) are the national advisory bodies for the payment-related market infrastructures that support AMI-Pay in fulfilling its role and responsibilities, as set out in the ΑΜΙ-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 governed by the AMI-Pay NSGs Mandate.
AMI-Pay GR-NSG is the national advisory body for Greece, through which the national stakeholders participate in the work of AMI-Pay, providing a formal link between AMI-Pay and the Greek market in the field of payments, as well as in the field of payment systems managed by the Eurosystem.
It represents the interests of the Greek market and is actively involved in submitting matters that need to be resolved. In this context, it acts both as a representative of AMI-Pay in the Greek market and, conversely, as provider of input from the latter to the AMI-Pay in relation to matters that concern it.
AMI-Pay GR-NSG comprises the Bank of Greece, representatives of the Greek payment service providers (PSPs) and other stakeholders (e.g. payment and settlement systems, public authorities, indirectly involved parties). It is the successor of the TARGET2-GR National User Group (T2-GR-NUG) and holds regular meetings under the chairmanship of and with secretarial support from the Bank of Greece.