National payment system participants to use personal accounts
Payment system operators, payment infrastructure operators and foreign payment system operators will be obliged to interact with the Bank of Russia electronically through their personal accounts. This is provided by a Bank of Russia ordinance that is to come into force on 28 March.
The regulator will use personal accounts to send messages to market participants. Personal accounts will also be used by the Bank of Russia to receive messages from national payment system (NPS) participants in electronic form, unless they must be submitted in another way.
Electronic documents sent by the regulator for the purpose of organising, performing and arranging the results of inspections of credit and non-bank financial institutions, self-regulatory organisations in the financial market, and payment system and payment infrastructure operators will be considered received within one hour of their placement on the personal account.
Other NPS participants (federal post offices providing payment services, information exchange service providers) will be able to interact with the Bank of Russia through personal accounts at their own discretion.