(2)Given that payments are effected by means of payment instruments and processed by payment systems, collecting statistical information on payment instruments is necessary to ensure the smooth operation of the systems through which they pass. In addition, as standards in respect of payment instruments are determined by payment schemes, the collection of statistical information concerning the operation of payment schemes is necessary to contribute to the smooth functioning of those payment systems. For these purposes, the ECB requires statistical information on an annual and on an semi-annual basis. Therefore, the reporting frequency should be increased.