Banking. Concept for the development of the settlement network of the Central Bank of the Russian Federation (the most important)

Lecture notes, cheat sheets
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Banking. Concept for the development of the settlement network of the Central Bank of the Russian Federation (the most important)

Lecture notes, cheat sheets

Directory / Lecture notes, cheat sheets

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Topic 33. The concept of development of the settlement network of the Central Bank of the Russian Federation

To improve the level of customer service, it is necessary to ensure the efficiency, continuity, quality, confidentiality of settlement operations, to carry them out at the world level using the most modern and promising technologies.

It depends on the capabilities of the Bank of the Russian Federation, its settlement network. It is important to create a Unified Federal Settlement Center, reorganize and develop the settlement network of the Central Bank of the Russian Federation in accordance with the "Strategy for the Development of the Payment System of the Russian Federation" and the "Concept of the Central Bank's Real-Time Gross Settlement System".

The main condition for increasing the efficiency of settlements is the development of all forms of settlements:

a) direct correspondent relations with the presence of correspondent accounts, b) intra-bank with the use of inter-branch settlement accounts, c) clearing, on the basis of non-bank credit organizations.

Competitiveness in the settlement system helps to improve the quality of customer service.

It is important that credit institutions can choose the method of making a payment based on the requirements of the client and economic feasibility for themselves.

Tariffs for settlements - there should be a compromise between the bank's need for resources and the client's need for operational settlements.

It is necessary for the development of competitiveness that:

a) The Central Bank published a methodology for calculating the tariffs for making payments in its settlement system, the tariff policy for the next period (3-5 years) for the price orientation of banks when making decisions on investing in their own technologies

b) the banking community, together with the Central Bank, have developed procedures that exclude unfair competition in the settlement services market and the establishment of dumping prices.

To involve cash in circulation into banking circulation, new technologies are being introduced:

1) payments using plastic cards, 2) use of “electronic money”, 3) making payments through the Client-Bank system, with real-time management of a bank account from anywhere in the Russian Federation.

It is important that the settlement system provides credit institutions with a wide range of options for organizing payment processing (from a completely electronic method to a less efficient, but cheaper paper form). To do this, the Central Bank must introduce a single format throughout the country. Provide for sending banks to promptly receive data on the progress of the payment until the funds are credited to the beneficiary's account, determine the measures of responsibility of participants in settlements, including the Central Bank.

Commercial banks together with the Central Bank should develop recommendations on:

1) unification of settlement document formats (possibly based on SWIFT), which will speed up the relationship between counterparty banks, standardized output formats of automated banking systems. 2) use of the SWIFT-RUR system for ruble payments between correspondent banks. 3) transition of the banking systems of the Russian Federation to international accounting and auditing standards.

Such a settlement system must respect banking secrecy and protect information from unauthorized access. etc.

Authors: Shevchuk D.A., Shevchuk V.A.

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