Aggregated News From Investment Management Regulators

Assessment of KoronaPay system

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On 18 November 2020, the Bank of Russia completed a regular assessment of the socially important payment system KoronaPay for its compliance with the international standard, ‘Principles for Financial Market Infrastructures’ (the PFMI). The Bank of Russia recommends that national important payment system operators comply with the said standard developed by the Committee on Payments and Market Infrastructures of the Bank for International Settlements jointly with the International Organization of Securities Commissions.

The assessment confirms the Bank of Russia’s previous assessment findings that KoronaPay is highly compliant with the PFMI. It has the highest ratings of compliance with all the principles.

Regulator Information

Abbreviation: CBR
Jurisdiction: Russian Federation

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