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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

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besp system main features and recent statistics

BESP SYSTEMMain features and recent statistics

Vladimir Kulipanov

7thIRSF, ICAP, London

April 14, 2010

general characteristics of besp
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)
options of membership
Options of membership
  • Special participation
  • Direct participation
  • Associated participation

CBR Head Office

CBR Branches

BESP system

V. Kulipanov 7 IRSF, London, Apr 14, 2010

options of membership1
Options of membership
  • Special participation
  • Direct participation
  • Associated participation

CBR Head Office

Bank DP

CBR Branches

BESP system

V. Kulipanov 7 IRSF, London, Apr 14, 2010

options of membership2
Options of membership
  • Special participation
  • Direct participation
  • Associated participation

CBR Head Office

Non-bank AP

Bank DP

CBR Branches

BESP system

Bank AP

V. Kulipanov 7 IRSF, London, Apr 14, 2010

besp share in bank of russia payment system
BESP share* in Bank of Russia payment system

* In terms of RUR value for the Q4, 2009

three phases of besp business day
Three phases of BESP business day

Preliminary phase

Final phase

Regular phase

21-00

21-30

08-00

09-00

Moscow time (GMT+3)

views on liquidity
Views on liquidity

AcBlnc+OvnLn

Total liquidity

BESP+LocalPS

Available line of overnight credit

Liquidity in BESP

Entire liquidity of DP

Account balance

Liquidity in Local PS

V. Kulipanov 7 IRSF, London, Apr 14, 2010

liquidity bridge between besp and local payment system
Liquidity bridgebetween BESP and Local payment system

Liquidity in BESP

Liquidity in Local PS

V. Kulipanov 7 IRSF, London, Apr 14, 2010

liquidity bridge between besp and local payment system1
Liquidity bridgebetween BESP and Local payment system

Liquidity in BESP

Liquidity in Local PS

V. Kulipanov 7 IRSF, London, Apr 14, 2010

information on the web
Information on the Web

(www.cbr.ru/today/BESP/) – in Russian

(www.cbr.ru/eng/today/BESP/) – in English

anticipated steps in near future
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

New development in payment regulation

Vladimir Kulipanov

7thIRSF, ICAP, London

April 14, 2010

full membership in besp
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.

directory of correlation between swift s and cbr s bic codes
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.

news in 2 p regulation
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.

new form of payment order
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.

cls membership work plan
CLS membership work plan

The CBR Chairman decided to start the process of joining CLS system.

The internal work plan is now being drafted.