This becomes possible if the central bank is also the systemic regulator. 24. Developments around the world over the last few months reflect two clear trends.
2  Regulation (EC) No 2560/2001 of the European Parliament and of the Council of 19 December 2001 on crossborder payments in euro (OJ L 344, 28.12.2001, pp. 13-16). 3  Joint statement by the European Commission and the European Central Bank clarifying certain principles underlying a future SEPA direct debit (SDD) business model, 24 March 2009.