Recital 1

(1)Information relating to payments and payment systems statistics collected pursuant to Article 2(1) of Regulation (EC) No 2533/98 is essential for identifying and monitoring developments in the payments markets within the Member States. The European Central Bank (ECB) collects country-specific and comparative payments statistics so that it is able to fulfil its task of promoting the smooth operation of payment systems in the Union and thus helps contribute to the smooth conduct of policies relating to the prudential supervision of credit institutions and the stability of the financial system.