On Mar. 7, LTH CB published requirements for payment institutions.
LTH CB published Resolution 03-34 of Mar. 6, 2025, on the Approval of the Description of Requirements Applicable to Payment Institutions and Electronic Money Institutions Participating in Payment Systems; requirements are annexed to the resolution.
Main Points
Details on the requirements set out on the Law on Payments for institutions requesting to participate in payment systems established under the Law on Settlement Systems.
Or in payment systems operating in other Member States established under legal acts of those Member States implementing Directive 98/26/EC on settlement finality.
Description of the internal documentation required for the funds' security, management procedure, internal control system, procedure for using ICT services, cessation plan.
Institutions' Compliance Report must contain information on the documents, data and procedures specified in the Annex; participants may choose to use the report template.
