ECHR rules not to revise its judgement on Beslan hostage taking caseWorld September 19, 19:18
Trump vows to 'totally destroy North Korea' if threatenedWorld September 19, 17:50
Russian top brass calls on US to not hamper Damascus’ fight against terrorismMilitary & Defense September 19, 17:49
Zapad-2017 exercise puts Russian army’s "nervous system" to testMilitary & Defense September 19, 17:33
Ukrainian conflict led to spike in hate speech, Russophobia — Council of EuropeWorld September 19, 17:00
Russian regions contribute scores of natural stones for memorial to Gulag victimsSociety & Culture September 19, 16:45
Warsaw police hunting vandals who desecrated Soviet military cemeteryWorld September 19, 16:39
Donbass truce first step towards lifting anti-Russian sanctions — German top diplomatWorld September 19, 16:36
Moscow court arrests man suspected of stabbing hiker to deathSociety & Culture September 19, 16:34
MOSCOW, December 26. /TASS/. The Central Bank of Russia has admitted domestic banks to its alternative to the SWIFT international bank transaction system for internal operations, the regulator said in a statement on Friday.
Russian banks are connected to the system after signing corresponding agreements with the Central Bank of Russia.
“The new service will allow credit institutions to transmit SWIFT-format messages through the Bank of Russia in all the [Russian] regions without restrictions,” the regulator said in a statement.
The regulator’s new service has been established to ensure the continuous and secure transmission of financial messages inside the country, the statement said.
The Central Bank of Russia earlier reported it planned to complete creating a SWIFT alternative by May 2015.
The European parliament came up with a proposal in mid-September this year to disconnect Russia from the SWIFT international financial message system to exert further pressure on Moscow over its stance on the Ukraine crisis. The initiative was supported by US senators.
SWIFT, which is headquartered in Brussels, said it will not respond to individual calls and pressure to disconnect financial institutions from its network and wants to remain a neutral provider of financial services.
Also in September, the Russian Central Bank and the government’s economic bloc drafted a law on creating a local alternative to the SWIFT non-governmental interbank communication system.
The Society for Worldwide Interbank Financial Telecommunications (SWIFT) transmits 1.8 billion transactions a year, remitting payment orders worth $6 trillion a day. The system comprises over 10,000 financial organizations from 210 countries.
Under the SWIFT charter, groups of members and users are set up in each country covered by the system. In Russia, these groups are united in the RosSWIFT association.