Guidelines for the Development of the Russian Financial Market slide image

Guidelines for the Development of the Russian Financial Market

Bank of Russia FINANCIAL SECTOR OVERVIEW The Central Bank of the Russian Federation 44 #4 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 million payments, 5.6 trillion rubles ✓ 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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