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National Settlement Depository Payment System complies with international risk management standard


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The Bank of Russia has assessed the National Settlement Depository Payment System (NSD PS) for compliance with the Principles for Financial Market Infrastructures (PFMI) international standard. The assessment confirmed that the NSD PS fully complies with the PFMI.

It means that NPO JSC NSD has fully implemented in its documents all the components of the payment system functioning as stipulated by law; it has implemented a reliable comprehensive risk management system; it uses settlement mechanisms; and it has established mechanisms to prevent adverse consequences in case an NSD PS participant fails to perform its obligations.

The standard was developed by the Committee on Payments and Market Infrastructures of the Bank for International Settlements jointly with the International Organization of Securities Commissions. The regulator conducts an assessment of important payment systems for their compliance with the PFMI every three years.

This news item was originally published by the Central Bank of the Russian Federation (CBR RU). For more information, see the Source Link.

Regulator Information

Abbreviation: CBR
Jurisdiction: Russian Federation

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