Regulatory Alerts2023-02-16 | 1545-5Added · Updated
Explanation on the Decision on Amendments and Additions to the Regulation on the Procedure for Making Electronic Payments Through the Central Bank's Interbank Payment System
Registered on February 16, 2023 under No. 1545-5, the decision aligns rules for connecting banks without branches or bank branches to the interbank payment system with current legislation. It establishes that if sufficient funds are unavailable in a bank's correspondent account, payments based on clearing system data will be recorded as an overdraft. Furthermore, operations through the Central Bank clearing settlement system and Fast Payment System are suspended for banks with an overdraft until a positive balance is restored in the correspondent account.
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