Financial Sector Overview
Bank of Russia
FINANCIAL SECTOR OVERVIEW
The Central Bank of the Russian Federation
PAYMENT INFRASTRUCTURE (2)
Advancing supervision and oversight to ensure stable development of the payment infrastructure
the
✓ Supervision of
payment
infrastructure: monitoring organisations'
compliance with the Russian law. Applies
both to banking and non-banking
institutions providing payment
infrastructure and payment services
✓ Oversight of the payment infrastructure:
Figures for early 2019:
36 payment systems and more than 400 institutions
supervised within the National Payment System (NPS)
NPS supervision is risk-oriented. Proportionate remote
supervision approach is being introduced to the NPS
improving
institutions'
operations
following the Bank
of
Russia
recommendations
based
upon
Objects supervised for compliance with CPMI/IOSCO
Principles for Financial Market Infrastructure (PFMI): 2
systemically important payment systems, 4 socially
important payment systems
international best practices
✓ Bank of Russia international cooperation
in supervision and oversight of the
payment infrastructure
High PFMI compliance ratings. NPS operators
implement approved action plans based on the Bank of
Russia recommendations
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