Transcript BESP payment system
BESP SYSTEM Main features and recent statistics
Vladimir Kulipanov 7 th IRSF, ICAP, London April 14, 2010
General characteristics of BESP
• Banking Electronic Speedy Payments (BESP) = RTGS of the Bank of Russia • National-wide coverage (11 time zones) • Complete electronic technology • Built-in liquidity saving mechanisms (bilateral and multilateral limits, offsetting of queuing payments, etc) 2
Options of membership
•
Special participation
• Direct participation • Associated participation
CBR Head Office
V. Kulipanov
CBR Branches BESP system
7 IRSF, London, Apr 14, 2010 3
Options of membership
• • Special participation
Direct participation
• Associated participation
CBR Head Office
V. Kulipanov
CBR Branches BESP system Bank DP
7 IRSF, London, Apr 14, 2010 4
Options of membership
• • Special participation • Direct participation
Associated participation CBR Head Office Non-bank AP Bank AP
V. Kulipanov
CBR Branches BESP system Bank DP
7 IRSF, London, Apr 14, 2010 5
600 500 400 300 200
Quantity of Participants
SSP DSP ASP 100 0 Apr 01, 09 May 01, 09 June 01, 09 Jul 01, 09 Aug 01, 09 Sep 01, 09 Oct 01, 09 Nov 01, 09 Dec 01, 09 Jan 01, 10 Feb 01, 10 Mar 01, 10 Apr 01, 10 6
9 8 7 6 1 0 5 4 3 2
Value moved via BESP
DSP SSP ASP 7
BESP share* in Bank of Russia payment system 26,4%
Bank of Russia PS except BESP BESP
73,6% * In terms of RUR value for the Q4, 2009
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Three phases of BESP business day Preliminary phase Regular phase Final phase
08-00 09-00 Moscow time (GMT+3) 21-00 21-30 9
AcBlnc+OvnLn
Views on liquidity
Total liquidity BESP+LocalPS
V. Kulipanov 7 IRSF, London, Apr 14, 2010 10
Liquidity bridge
between BESP and Local payment system
Liquidity in Local PS
V. Kulipanov 7 IRSF, London, Apr 14, 2010
Liquidity in BESP
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Liquidity bridge
between BESP and Local payment system
Liquidity in Local PS
V. Kulipanov 7 IRSF, London, Apr 14, 2010
Liquidity in BESP
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Information on the Web ( www.cbr.ru/today/BESP/ ) – in Russian ( www.cbr.ru/eng/today/BESP /) – in English 13
This is the end of PART 1 QUESTIONS PLEASE!
Anticipated steps in near future
• • • • • • •
2010 year
BESP; - all Russian credit institutions are in the
2010 year
the directory of correlation between SWIFT’s and CBR’s BIC codes will be introduced by CBR;
2010 year
- 2-P Regulation will be adopted;
2010 year
- New payment order will be introduced;
2011 year
– additional access to the BESP system via SWIFT transport;
2011 year
- extending BESP operating hours (midnight – 8 p.m. MSC TmZn) ;
~2015 year~
– CLS membership.
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New development in payment regulation
Vladimir Kulipanov 7 th IRSF, ICAP, London April 14, 2010
Full membership in BESP On August 6 th , 2010 all domestic non-BESP banks will automatically become Associated BESP members. Nothing needs to be done on their side.
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Directory of correlation between SWIFT’s and CBR’s BIC codes CBR will introduce the Directory of correlation between SWIFT & CBR BIC codes. That will enable automatic conversion of Bank IDs from SWIFT messages to CBR formats and vice versa.
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News in 2-P Regulation By the end of 2010…
If the originator of the payment instruction is non RF resident (client or bank), then the correspondent RF resident Beneficiary Bank will be allowed at its own discretion and its own risk to neglect the discrepancies between the text field “Beneficiary Name” and the true name of the Beneficiary. This opportunity should be put in the Banking Account Contract between the Beneficiary and the Beneficiary Bank in advance.
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New form of payment order By the end of 2010…
New form of payment order will be introduced in addition to existing one. The usage is voluntary.
This form will enable indication of intermediary banks (up to 3) in addition to Originator Bank and Beneficiary Bank.
This form and the mapping fields allow 100% STP conversion from SWIFT MT103 and SWIFT MT202 to CBR formats and vice versa.
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CLS membership work plan
The CBR Chairman decided to start the process of joining CLS system.
The internal work plan is now being drafted.
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