In exercising the oversight function, close cooperation between the bodies overseeing payments and the BaFin is of fundamental importance. In the field of electronic money the Deutsche Bundesbank also cooperates with the Federal Agency for Security in Information Technology (BSI) and takes advice from this body, as systems with electronically stored units of value are subject to a special security test. The legal foundation for banking supervision is the KWG. The aim of this law is to safeguard the ability of the banking sector to function and protect creditors by monitoring the credit standing and liquidity of banks. The law.
