Post on 21-Dec-2015
BESP SYSTEMMain features and recent
statistics
Vladimir Kulipanov
7th IRSF, ICAP, London
April 14, 2010
2
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)
3V. Kulipanov 7 IRSF, London, Apr 14, 2010
Options of membership
• Special participation• Direct participation• Associated participation
CBR Head Office
BESP system
CBR Branches
4V. Kulipanov 7 IRSF, London, Apr 14, 2010
Options of membership
• Special participation• Direct participation• Associated participation
CBR Head Office
BESP system
CBR BranchesBank DP
5V. Kulipanov 7 IRSF, London, Apr 14, 2010
Options of membership
• Special participation• Direct participation• Associated participation
CBR Head Office
BESP system
CBR BranchesBank DP
Bank AP
Non-bank AP
6
Quantity of Participants
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, 100
100
200
300
400
500
600
196
198
198
199
200
201
203
203
204
205
205
205
207
299
324 34
5
367 38
4 397 40
9
435 44
7 457 46
9 484 49
2
380
383 39
2 411
436
459 46
9 476 49
0
493 50
4 509 52
0
SSP DSP ASP
7
Value moved via BESP
Mar 0
9
Apr 09
May
09
Jun 0
9
Jul 0
9
Aug 09
Sep 09
Oct
09
Nov 09
Dec 09
Jan 1
0
Feb 10
Mar 1
00
1
2
3
4
5
6
7
8
9
DSP SSP ASP
Trl
n
RU
R
8
BESP share* in Bank of Russia payment system
Bank of Russia PS except BESPBESP
26,4%
73,6%
* In terms of RUR value for the Q4, 2009
9
Three phases of BESP business day
08-00 09-00 21-00 21-30
Preliminary phase Regular phase
Final phase
Moscow time (GMT+3)
Moscow time (GMT+3)
10V. Kulipanov 7 IRSF, London, Apr 14, 2010
Views on liquidity
En
tire
liq
uid
ity
of
DP
Ava
ilab
le li
ne
of
ove
rnig
ht
cred
it
Acc
ou
nt
bal
ance
Total liquidity
Liq
uid
ity
in B
ES
PL
iqu
idit
y in
L
oca
l PS
AcBlnc+OvnLn BESP+LocalPS
11V. Kulipanov 7 IRSF, London, Apr 14, 2010
Liquidity bridgebetween BESP and Local payment system
Liquidity in BESPLiquidity in Local PS
12V. Kulipanov 7 IRSF, London, Apr 14, 2010
Liquidity in BESPLiquidity in Local PS
Liquidity bridgebetween BESP and Local payment system
13
Information on the Web
(www.cbr.ru/today/BESP/) – in Russian(www.cbr.ru/eng/today/BESP/) – in English
This is the end of PART 1QUESTIONS PLEASE!
15
Anticipated steps in near future
• 2010 year - all Russian credit institutions are in the BESP;
• 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.
New development in payment regulation
Vladimir Kulipanov
7th IRSF, ICAP, London
April 14, 2010
17
Full membership in BESP
On August 6th, 2010 all domestic non-BESP banks will automatically become Associated BESP members. Nothing needs to be done on their side.
18
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.
19
News in 2-P Regulation
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.
By the end of 2010…
20
New form of payment order
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.
By the end of 2010…
21
CLS membership work plan
The CBR Chairman decided to start the process of joining CLS system.
The internal work plan is now being drafted.
Thank you for attention!