OREANDA-NEWS. October 31, 2012. The NBM Administrative Board approved amendments to the Regulations of Computer-aided System of Interbank Payments and the Regulation of Supervision over Computer-aided System of Interbank Payments.

The amendments are to come into effect at the beginning of the next year, when the National Security Depositary starts directly participating in the computer-aided interbank payments system. The regulatory framework is to ensure its integration into the system. As a result, money transfers performed through the system will be ensured to a higher security level, which will make them more reliable for domestic and local investors.

Other provisions are aimed at supporting payments and optimizing risk management mechanisms to encourage more effective monitoring over banking transactions and more attentive attitude to liquidity and operational risk management in the framework of the computer-aided interbank payment system.

According to the amendments, fees banks have for the payment processing will be reduced to increase an amount of cashless transactions and promote them, which is a strategic goal NBM has set for 2013-2017.