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Payment services and cash circulation and the requirements for continuous operation

Issuer:Governor of Eesti Pank
Type:regulation
In force from:18.03.2017
In force until:30.06.2017
Translation published:20.03.2017

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In force

Payment services and cash circulation and the requirements for continuous operation

Passed 08.03.2013 Annex 4
RT I, 12.03.2013, 1
Entry into force 15.03.2013

Amended by the following legal instruments (show)

PassedPublishedEntry into force
10.03.2017RT I, 15.03.2017, 118.03.2017

This Decree is established on the basis of clauses 35 4) and 5) of the Emergency Act.

§ 1.  Scope of the Decree

  This Decree specifies the notions of payment services and cash circulation and establishes the requirements for continuous operation.

§ 2.  Application of the Decree

  The decree shall be applied to all institutions listed in section 2 of Eesti Pank Governor’s Decree No 4 of 28 February 2017 ‘List of credit institutions and branches of foreign credit institutions providing a vital service’ with regard to the provision of domestic payment services and management of cash circulation.
[RT I, 15.03.2017, 1 – entry into force 18.03.2017]

§ 3.  Payment services

  Payment services as vital services are the services specified in clauses 3 (1) 3), 4) and 7) of the Payment Institutions and E-money Institutions Act.

§ 4.  Cash circulation

  Cash circulation as a vital service entails the services specified in clauses 3 (1) 1) and 2) of the Payment Institutions and E-money Institutions Act.

§ 5.  Requirements for continuous operation of a vital service

 (1) In order to ensure continuous operation of the core information systems and equipment required for the functioning of a vital service, the provider of a vital service shall adhere to at least the following requirements:
 1) a back-up power supply connection shall be available for the information systems used for provision of the vital service, equipped with an autonomous power supply system;
 2) a back-up system shall be available for data communication between the information systems used for provision of the vital service and the provider of the communication service;
 3) in case of critical activities, the allowed maximum duration of an interruption in the provision of payment services shall be 12 hours;
 4) in case of critical activities, the allowed maximum duration of an interruption in cash circulation shall be 12 hours;
 5) a continuous operation plan shall be prepared with the aim of restoring provision of a vital service in the extent of at least 70% of the average number of transactions;

 (2) In case the information systems securing the functioning of a vital service are located in a foreign country, the continuous operation plan shall describe alternative means and measures for ensuring continuous operation of the vital service.

Ardo Hansson
Governor