oversight of payment systems

What is oversight of payment systems?

oversight of payment systems definition and meaning on Finance terms:
A typical central bank function whereby the objectives of safety and efficiency are promoted by monitoring existing and planned systems, assessing them against the applicable standards and principles whenever possible and, where necessary, fostering change. Oversight activities increasingly relate also to securities clearing and settlement systems. <


reference: https://www.ecb.europa.eu/home/glossary/html/index.en.html