National Payment System: two-year oversight findings

The findings of monitoring of the National Payment System (NPS) and assessment of the important payment systems (IPSs) are presented in the survey ‘Results of Oversight in the National Payment System in 2014-2016’ covering the period from July 2014 to June 2016.

In its assessment of the IPSs the Bank of Russia was guided by the international standard Principles for Financial Market Infrastructures. The scope of implementation of these principles in Russia got the highest rating by the Committee on Payments and Market Infrastructures at the Bank for International Settlements (CPMI BIS). According to the results of the first round of IPS assessment completed in 2016 Q1, Russian IPSs demonstrate a rather high level of compliance with these principles.

As of 1 July 2016, the NPS consisted of 2 systemically important, 6 socially important and 18 nationally important payment systems.

The Bank of Russia publishes the findings of its oversight in the NPS once every two years. The second release is available in Bank of Russia Bulletin No. 91 as of 17 October 2016.