Abstract:

The actual article is devoted to the study of the processes emerging and extensively flowing in the area of modernization and functioning of the Bank of Russia payment system. The actual payment system as a systemically important subject of the domestic financial market is designed to optimize the methods of funds transferring within the territory of the Russian Federation between credit institutions. Due to the long term of the nowadays Bank of Russia payment system formation, the actual article presents structuration of the whole period of formation into five main phases, including the actual phase of modernization. Moreover, the article also contains the following main conclusions and authors’ elaborations:
• structures in-depth description of the operational functioning of the modern Bank of Russia payment system followed by the structured simplified scheme of clients’ payment orders for transferring of funds reception by the non-urgent transfer service;
• presents three main formulas for calculating the amount of the general liquidity in the Bank of Russia payment system: at the beginning of the operational day, in a single point during the operational day and in the end of the operational day;
• reconsiders the method of liquidity pools operation and presents formulas for calculating the settlement finality both for main and subordinate members of liquidity pools within the operational infrastructure of the Bank of Russia payment system;
• analyzes the method of setting different types of limits between services for urgent and non-urgent money transferring within the operational infrastructure by participants of the actual payment system.