Russian Financial Sector Update
The Central Bank of the Russian Federation
Bank of Russia
FINANCIAL SECTOR OVERVIEW
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 mln payments, RUB 5.6 tn
✓ Real-time and non-real-time payments provided through the RTGS system with 80% of
the funds transferred via the real-time service
✓ Providing tools for completing financial market infrastructure settlements in the Central
Bank (RUB accounts)
✓ Transfer timeframe is adapted to Russia's 11 time zones. In near future it will operate
from 1 a.m. to 9 p.m., Moscow time
✓ Providing settlement services and intraday settlements on fund transfers conducted
within Russia through payment cards (in collaboration with NSPK - the National
Payment Card System)
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