By the Resolution of the Board of the Central Bank No. 2570-1 dated September 28, 2020, the following adjustments were made, providing for the following:
- expansion of obligations of the participants of the Clearing System;
- terms of connection to the Clearing System and interaction of service providers;
- restrictive measures against commercial banks in case of non-fulfillment of liquidity requirements on correspondent accounts in order to ensure uninterrupted payments through the Clearing System;
- mandatory details of an electronic payment document generated when making payments in the Clearing System.
Payment service providers have an obligation to provide only the clearing user services specified in the order. In addition, this Regulation imposes responsibility for reflecting and making changes to the details, as well as for making changes to the user's requirements.
Originally published 22 October 2020.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
