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Financial stability

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T​he Bacs payment system is recognised by HM Treasury for oversight by the Bank of England. In this respect Bacs is defined as a Financial Market Infrastructure (FMI), and consequently Pay.UK, which became the operator of the Bacs payment system on 1 May 2018, assesses and discloses how it meets a set of international principles designed to ensure stability.

The latest Pay.UK annual self-assessment against the Principles for Financial Market Infrastructures (PFMIs) was published in June 2020 and covers the operation of the Bacs Payment System, Faster Payment System and Image Clearing System as at the end of March 2020.

The document is Pay.UK's second annual self-assessment against the PFMIs and is available from the Information Hub below or to the right of your screen.

 

 
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