Raging thunderstorm strikes Moscow leaving seven dead, 69 injured — sourceWorld May 29, 18:01
MP rips Montenegrin top envoy's anti-Russia hype as lies, loyalty ‘display’ for NATORussian Politics & Diplomacy May 29, 17:44
Brazilian football stars Cafu, Lucio take Confederations Cup trophy on tour to GermanySport May 29, 17:02
Violent thunderstorm hits MoscowWorld May 29, 16:59
Russian rocket artillery to be rearmed with upgraded launchers by 2020Military & Defense May 29, 16:44
Wolf, Lynx and Tiger: Russian military vehiclesMilitary & Defense May 29, 16:36
Russia to begin trials of new military transport plane in late 2017Military & Defense May 29, 16:18
Putin and Macron hold their first meeting in VersaillesRussian Politics & Diplomacy May 29, 15:58
Putin arrives in France for first meeting with MacronRussian Politics & Diplomacy May 29, 14:58
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.