on which pan - european payment solutions are expected to be built. combined with the development of mobile technologies, instant payments have the potential to create affordable, convenient and secure payment solutions in both physical stores and the internet, with funds being available to the recipient within seconds. the ambition is to complete the full introduction of instant payments in the european union by the end of 2021. the following steps are needed to achieve this goal : - assess the need for mandatory adherence to the sepa instant credit transfer scheme in euro ( sct inst. ) by the end of 2021 and determining the criteria according to which payment service providers will be subject by this obligation ; - assess whether to adopt a legislative prohibition on charging instant payments higher than standard credit transfers ; - ensuring cross - border connectivity and interoperability of payment systems for instant payments in euro through the tips service of the ecb - operated target 2 payment system. all payment service providers that have joined the sepa instant credit transfer scheme ( sct inst. ) and are reachable in target 2, should be reachable either as a participant or as an reachable party ( i. e., through another payment service provider that is a participant ) and in the target 2 instant payment service tips by the end of 2021 ; - developing cross - currency instant payments in the european union, which will be ensured by the inclusion of currencies other than the euro in the target 2 service for instant payments - tips, as was the case with the swedish krona in 2020 ; - encouraging the establishment of links between payment systems processing instant payments in the european union and those of third countries offering the same service, provided that the standards for fraud prevention, money laundering, etc. are met. 4. further steps to digitise financial services in the eu the further development of digitisation will continue to be among the main priorities, and the following measures are expected to be taken in order to accelerate these processes and reach their full potential at european level : 4. 1. eliminate the fragmentation of the digital single market by : - legislative changes aimed at creating opportunities for interoperable use of digital identity throughout the european union. this will allow easy ‘ onboarding ’ of new customers entirely online, in full compliance with the requirements for combatting money laundering and terrorist financing ; - facilitating cross - border provision of financial services, including by introduction of a harmonised regime for new activities such as crowdfunding, credit intermediation, and cryptocurrency services

witnessed dynamics of the volume and price of debt, require careful attention to the government bonds portfolio as well. as regards the bnb, the answers will come primarily with the use of the macroprudential tools that we have available. this will be done, as it has been done so far, in compliance with the requirements for clear articulation and predictability. if there is no dramatic change in the situation, we will continue to announce the measures one year before they are put in place. these measures will still be focused on banks ’ capital. at this stage, we do not plan to expand them to borrowers. in the end, please let me say a few words about the accomplishment of the strategic tasks whose timeframes are becoming shorter and shorter. in the next 18 months, these tasks will be mostly aimed at completing bulgaria ’ s accession to the euro area. the bnb has provided the necessary organisation with regard to the issues within our competence. the teams include representatives of the association, which is a very positive fact. we are already going into the stage of intense communication and joint work with the ecb. i strongly hope that the political process, with all its unpredictability and uncertainty, will ultimately support, not block, the overall progress of the accession to the euro area. and keeping this hope, i would like once again to congratulate the association, its management, secretariat, and all its members on the 30th anniversary and to wish you good health and much success.