BoE became the statutory overseer of payment systems from 31 December 2009. Its duties stem from the Banking Act 2009 and it has published 14 Principles which will be a core element of the new regime. The Principles comprise the 10 international principles of the Committee on Payment and Settlement Systems under the Basel Committee, and four extra ones that address issues particularly important to the UK. It has also published a summary of responses to its consultation on its oversight role.