The Bank of Russia has evaluated the payment system of Sberbank (hereinafter, the Sberbank PS) for observance of the Principles for financial market infrastructures (hereinafter, PFMI). The evaluation confirmed its robust compliance with the PFMI.
This evidences that Sberbank PJSC has fully implemented and embedded in its documents the statutory aspects of payment system functioning, has in place a comprehensive risk management system and adjusts it to new operational factors, and ensures that Sberbank PS members have fair and open access to its settlement services.
The standard was developed for systemically important payment systems by the Committee on Payments and Market Infrastructures at the Bank for International Settlements jointly with the International Organization of Securities Commissions. The regulator evaluates PFMI observance by systemically important payment systems every three years.
This news item was originally published by the Central Bank of the Russian Federation (CBR RU). For more information, please see the Source Link.