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Course contents: (Back to Russia)
- Introduction
- Payment System in Russia (payment)
Learning Unit Summary
The Bank of Russia occupies a special place in the Russian payment system.
As an operator of its own payment system, it co-ordinates and regulates
settlement relations in Russia, monitors the activities of private payment
systems, setting guidelines for their functioning, and establishes non-cash
settlement rules, forms, terms and standards, as well as organises cash
circulation.
The Russian payment system is regulated by the Civil Code of the Russian
Federation and several federal laws, the most important of them being the
Federal Law on the Central Bank of the Russian Federation (Bank of Russia) and
Federal Law on Banks and Banking Activities, and the Bank of Russia rules and
regulations issued in pursuance of these laws.
The Bank of Russia constantly pays special attention to the upgrading of the
regulatory framework ensuring the functioning of the Russian payment system.
Available Languages :
 and
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