Payment systems are essential to the functioning of monetary economies. This article explains the Bank's role in overseeing UK payment systems to ensure their robustness, including the role of the Bank's recently published first Oversight Report. It also sets out some future priorities for...

Large increases in TARGET2 balances in the euro area since 2008 have led to concern and debate about the appropriate interpretation and policy reaction - in particular in TARGET2 creditor countries such as Germany. Against this background, we examine the main drivers of the increases and...