Financial Sector Overview
Bank of Russia
FINANCIAL SECTOR OVERVIEW
The Central Bank of the Russian Federation
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PAYMENT INFRASTRUCTURE (1)
Bank of Russia Payment System
✓ Money transfer services are provided to:
✓ all credit institutions (financial market infrastructure included)
✓ Russia's Federal Treasury and its agencies
✓ other Bank of Russia clients
✓ Average daily figures: 6.4 mln payments, RUB 6.9 tn
✓ 84% of funds are transferred via the real-time service
✓ New liquidity management tools, future value date settlement functionality, cash-
pooling services for Federal Treasury and multibranch banks introduced
✓ Transfer timeframe is adapted to Russia's 11 time zones - system operates from 1 a.m.
to 9 p.m., Moscow time.
✓ The Faster Payments System (FPS), launched on 28 January 2019, is set to enable
instant C2C interbank transfers 24/7/365 using mobile phone number. At the next stage
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C2B (customer-to-business) and C2G (customer-to-government) payments to be
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