PAYMENT SYSTEMS AND THE ROLE OF THE CENTRAL BANK OF ROMANIA

The management of payment and settlement systems is one of the traditional functions of central banks that seeks to ensure financial stability. Similar to the case of other important function, that of lender of last resort, it is wise to ask ourselves whether the central bank is the best institution to manage payment systems. Also, considering the advances in the field, some questions arise: whether or not they contributed to the reduction of systemic risk?, do they bring extra liquidity and stability of the EMU scheme?.