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Rouble Settlements via SWIFT

Rouble Settlements via SWIFT. Charles Robson 5th INTERNATIONAL ROUBLE SETTLEMENT FORUM . Agenda. Some statistics Rouble Settlements via correspondent banking The Russian RTGS and SWIFT. CIS : Traffic Share. Source : FIN_per Sales Area. Russia : Messages by market. Russia. CIS.

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Rouble Settlements via SWIFT

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  1. Rouble Settlements via SWIFT Charles Robson 5th INTERNATIONAL ROUBLE SETTLEMENT FORUM

  2. Agenda • Some statistics • Rouble Settlements via correspondent banking • The Russian RTGS and SWIFT Country Profile – Russia – Dec2008

  3. CIS : Traffic Share Country Profile – Russia – Dec2008 Source : FIN_per Sales Area

  4. Russia : Messages by market Russia CIS Country Profile – Russia – Dec2008

  5. Messages sent fromRussia Top 10 receivers Country Profile – Russia – Dec2008

  6. Messages sent to Russia : Top 10 senders Country Profile – Russia – Dec2008

  7. Russia : Weight Domestic Traffic per Market Weight: 54% Weight: 26% Weight: 70% Weight: 15% Country Profile – Russia – Dec2008

  8. Agenda • Some statistics • Rouble Settlements via correspondent banking • The Russian RTGS and SWIFT Country Profile – Russia – Dec2008

  9. Payments Market Practice Group • Under the auspices of the Russian National SWIFT Association (User and Member Group together) guidelines have been worked out on how to use the ISO-Standards to do Rouble Payments: “RUR-6 guidelines”. • Includes – amongst others – the MT 101, 103, 202, 205, 210, category 9 messages and n92, n95 & n96 messages. • Includes transliteration table. • Currently version 6. • Available on swift.ru Country Profile – Russia – Dec2008

  10. Issue(s) with RUR-6. • They are not mandatory. • Not all banks are using latest version, so banks have to support different versions, depending on their counterparts. • The Central Bank’s Payment Order is not fully in line with the ISO-Standards from point of view of number of characters to be used for fields and Bank Identifiers. Country Profile – Russia – Dec2008

  11. Agenda • Some statistics • Rouble Settlements via correspondent banking • The Russian RTGS and SWIFT Country Profile – Russia – Dec2008

  12. History • Central Bank of Russia & SWIFT signed a Memorandum of Understanding on the fact that the SWIFT communication platform would be proposed to the RTGS participants as parallel communication channel for the Russian RTGS. • Technically solution to support SWIFT as RTGS channel has been implemented. • Based on some extra requirements from the National Security Service, the converter Central Bank of Russia proprietary formats to ISO-formats and vice versa is being finalised. Country Profile – Russia – Dec2008

  13. Message Flow Russian RTGS CB of Russia Payments Application Converter CB of Russia – ISO Formats and vice versa CB of Russia VPN SWIFT Backbone Network Direct Participants Indirect Participants

  14. Steven Palstermans Head of Russia, CIS & Mongolia SWIFTAvenue Adele 1 B-1310 La Hulpe Belgium +32 2 655 3111+32 2 655 4099+32 2 655 3752+7 903 1646095 steven.palstermans@swift.comswift.com T D F M E W Thank you

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