Recital 1

(1)The Eurosystem operates payment systems under its mandate and powers set out in the Statute of the European System of Central Banks and of the European Central Bank (hereinafter the ‘Statute of the ESCB’) – in particular the fourth indent of Article 3.1, Article 12.1, Article 22, read in conjunction with Article 17 – and in line with the general principles of Union law. In doing so the Eurosystem gives due regard to Article 2, point (b), of Directive 98/26/EC of the European Parliament and of the Council ¹ , as amended by Article 4 of Regulation (EU) 2024/886 of the European Parliament and of the Council ² , which includes payment institutions and electronic money institutions (collectively referred to as non-bank payment service providers, or NB-PSPs) in the list of institutions eligible, subject to conditions, to become participants in payment systems designated under that Directive. Article 35a of Directive (EU) 2015/2366 of the European Parliament and of the Council ³ , as inserted by Article 3 of Regulation (EU) 2024/886, imposes additional conditions – in comparison with other institutions – that such NB-PSPs must satisfy prior to requesting participation in systems designated under Directive 98/26/EC. Finally, Article 10(1) of Directive (EU) 2015/2366, as amended by Article 3 of Regulation (EU) 2024/886, enables NB-PSPs to deposit their clients’ funds for safeguarding in a separate account in a credit institution or in a central bank at the discretion of that central bank.