They include the power to designate a payment system and to set standards in areas like network pricing and various aspects of a payment system’s internal rules. One of the first areas of focus for the Board was on credit card schemes. But the remit of the Payments System Board extends much more broadly than just card payments, or even retail payments more generally.
Until November 2021, the value of new loans issued by the banking sector was about 1.6 billion Euros, representing an annual increase of 21 percent, while the total value of active loans in the banking sector until November 2021 was 3.7 billion Euros, representing an annual increase of 14.7 percent.