According to the central bank, the framework is designed to promote financial stability by identifying payment systems whose interruption could generate and transmit risks across the broader financial system, ensuring the resilience and continuity of critical payment systems during periods of financial stress or operational disruptions, identifying various types of risks and understanding how they may arise and are transmitted in the system and Assessing and analyzing the risks to develop appropriate and effective mechanisms for monitoring, managing, and controlling them.
The framework is applicable to payment systems operated by NRB and licensed institutions.
