Euro-NCS

Euro-NCS

Published: 1/2/2015

The Euro-NCS is a system that will execute the clearing of interbank payment SEPA credit transfer transactions in euro. The National SEPA Migration Plan defines that in the Republic of Croatia, according to a joint agreement with the Croatian banking community, a single payment infrastructure (National Clearing System) should be established for the clearing of national and cross-border SEPA credit transfers in euro – Euro-NCS. The Financial Agency (FINA), in accordance with the National SEPA Migration Plan, is responsible for the implementation, the setting up and operational management of the Euro-NCS payment infrastructure. The setting up and implementation of the Euro-NCS payment infrastructure is scheduled for April 2016 in accordance with the National SEPA Migration Plan.

The defining of competences, functional procedures of sources, collection and statistical processing of relevant data for the Euro-NCS payment system, as well as the methodology of presentation and publishing of statistical data will be defined after the implementation of the Euro-NCS in production operations.