The emergence and development of the banking system led to the need to create a legal framework for this activity. In Russia, over a fairly long period of time, a very large array of banking legislation has developed: laws, regulations, instructions that regulate a wide variety of issues in the implementation of banking activities.

The legal framework for regulating cashless payments in the Russian Federation includes:

• 1. Civil Code of the Russian Federation;
• 2. Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)" dated July 10, 2002 No. 86-FZ;
• 3. Federal Law "On Banks and Banking Activities" dated December 2, 1990 No. 395-I;
• 4. Regulation "On non-cash payments in the Russian Federation" of October 3, 2002 No. 2-P;
• 5. Regulation "On the procedure for making cashless payments by individuals in the Russian Federation" dated April 1, 2003 No. 222-P;
• 6. Regulation "On inter-regional electronic settlements carried out through the settlement network of the Bank of Russia" dated June 23, 1998. No. 36-P;
• 7. Regulation "On the real-time gross settlement system of the Bank of Russia" dated April 25, 2007. No. 303-P.

The legal basis for non-cash payments is the Civil Code of the Russian Federation. In accordance with Art. 861 of the Civil Code of the Russian Federation, settlements with the participation of citizens, not related to their entrepreneurial activities, can be made in cash or in a non-cash manner. Non-cash payments are made through banks, other credit institutions, in which the relevant accounts are opened.

When making non-cash settlements, settlements by payment orders, letters of credit, checks, settlements by collection, as well as settlements in other forms provided by law, are allowed.

In accordance with Art. 863 of the Civil Code of the Russian Federation when making payments by payment order, the bank undertakes, on behalf of the payer, at the expense of the funds in his account, to transfer a certain amount of money to the account of the person indicated by the payer in this or another bank within the period prescribed by law. When settling under a letter of credit, a bank acting on behalf of the payer to open a letter of credit and in accordance with his instructions, undertakes to make payments to the recipient of funds or pay, accept or discount a bill of exchange or authorize another bank to make payments to the recipient of funds or pay, accept or discount a bill of exchange .

In accordance with Art. 874 of the Civil Code of the Russian Federation, when making settlements for collection, the bank (issuing bank) undertakes, on behalf of the client, to carry out actions at the expense of the client to receive payment or acceptance of payment from the payer. The issuing bank that received the client's order is entitled to engage another bank (executing bank) for its execution.

Based on Art. 877 of the Civil Code of the Russian Federation by check a security is recognized that contains an unconditional order of the issuer of the check to the bank to pay the amount indicated in it to the holder of the check.

In accordance with the law, the Bank of Russia occupies a special place in the payment system of Russia. It not only provides general management of the payment system, creates a methodological and organizational base, but is also a direct participant in this system, carrying out interbank settlements through its divisions.

The Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)" defines the main goals of the Bank of Russia, among which the provision of efficient and uninterrupted functioning of the payment system is not the last.

Article 80 defines the Bank of Russia as the body coordinating, regulating and licensing the organization of settlement systems in the Russian Federation. The Bank of Russia establishes the rules, forms, terms and standards for non-cash payments. The total term for making payments by non-cash settlements should not exceed two business days if the said payment is made within the territory of a subject of the Russian Federation, and five business days if the said payment is made within the territory of the Russian Federation. The Bank of Russia carries out interbank non-cash payments through its institutions - cash settlement centers, which are an integral part of a single centralized system with a vertical management structure of the Central Bank of the Russian Federation. In addition to cash settlement centers, the system includes: the central office, territorial offices, computer centers, field institutions and educational institutions, storage facilities, as well as other enterprises, institutions and organizations, including security units necessary for successful activity jar.

Within the framework of the legal regulation of non-cash payments, the Regulation “On non-cash payments in the Russian Federation” dated October 3, 2002 is of particular importance. No. 2-P, which regulates non-cash settlements between legal entities in the currency of the Russian Federation and on its territory in the forms provided for by law, determines the formats, procedure for filling out and processing the settlement documents used, and also establishes the rules for conducting settlement operations on correspondent accounts (sub-accounts ) credit institutions (branches), including those opened with the Bank of Russia, and inter-branch settlement accounts. This Regulation does not apply to the procedure for making cashless payments with the participation of individuals. Non-cash payments are made through credit institutions or the Bank of Russia on accounts opened on the basis of a bank account agreement or a correspondent account (sub-account) agreement.

According to the Regulations, a payment made through a subdivision of the settlement network of the Bank of Russia is considered:

• - irrevocable - from the moment the funds are debited from the payer's account in the subdivision of the settlement network of the Bank of Russia;
• - final - from the moment the funds are credited to the beneficiary's account in the subdivision of the settlement network of the Bank of Russia.

Regulation No. 222-P “On the Procedure for Making Non-Cash Settlements by Individuals in the Russian Federation” governs the implementation of non-cash payments by individuals in the currency of the Russian Federation on the territory of the Russian Federation on bank accounts opened on the basis of a bank account agreement or without opening a bank account. Non-cash payments are made by individuals through credit institutions (branches) licensed by the Bank of Russia.

Regulation No. 36-P “On Interregional Electronic Settlements Through the Settlement Network of the Bank of Russia” determines the procedure for making, recording and controlling interregional electronic settlements in the Bank of Russia system, as well as the basic rules and conditions for including credit institutions, branches of credit institutions and other legal entities, which are not credit institutions serviced by subdivisions of the settlement network of the Bank of Russia, as users of the system of interregional electronic settlements of the Bank of Russia.

Interregional electronic settlements carried out through the settlement network of the Bank of Russia are understood as the totality of relations between the subdivisions of the settlement network of the Bank of Russia located on the territory of various constituent entities of the Russian Federation, as well as between credit institutions, customers of the Bank of Russia and subdivisions of the settlement network of the Bank of Russia for making payments using payment and service information documents drawn up in electronic form.

Regulation "On the real-time gross settlement system of the Bank of Russia" No. 303-P defines the rules for the functioning of the real-time gross settlement system, referred to as the system of bank electronic urgent payments (BESP), including the purpose of the BESP system, the rules for making payments in the system BESP and inclusion (exclusion) of credit institutions and customers of the Bank of Russia that are not credit institutions, subdivisions of the Bank of Russia settlement network of other structural subdivisions of the Bank of Russia as participants in the BESP system.

The BESP system operates in the payment system of the Bank of Russia and is designed to make urgent payments in the currency of the Russian Federation by the Bank of Russia, credit institutions, customers of the Bank of Russia that are not credit institutions, and ensure continuous settlements on a gross basis in real time as they enter the BESP system electronic payment messages at the expense of funds held on bank accounts of BESP system participants opened with the Bank of Russia. Settlements through the BESP system are non-cash payments. Urgent payments include payments by BESP system participants, including those related to the implementation of monetary policy, interbank payments, payments on behalf of clients of BESP system participants. The real-time mode in the BESP system is understood as the mode of making payments, which ensures the implementation of settlements continuously during the operational day of the BESP system and immediately upon receipt of electronic payment messages in the BESP system.

Payments through the BESP system are made on the basis of a settlement document drawn up and executed in the form of an electronic payment message in the form of settlements by payment orders in accordance with the legislation of the Russian Federation and Bank of Russia regulations governing the rules for making cashless payments. Participation in the BESP system for a credit institution and another client of the Bank of Russia that is not a credit institution is voluntary.

These documents serve as the legal basis for the functioning and further development of the Russian payment system. The Bank of Russia constantly pays special attention to the improvement and development of the regulatory framework that ensures the functioning of the Russian payment system and informs the banking community and the public about changes and additions to regulations, as well as decisions made in the direction of technical modification of the payment system.

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Legal basis for regulation of non-cash settlements and payments

The participation of the Central Bank of the Russian Federation in the regulation of the system of settlements and payments is one of its main goals, determined by Art. 3 of the Federal Law of July 10, 2002 No. 86-FZ "On the Central Bank of the Russian Federation (Bank of Russia)". In accordance with this article of the Law, the purpose of the activities of the Bank of Russia is to ensure the efficient and uninterrupted functioning of the payment system, along with the protection and stability of the ruble, the development and strengthening of the Russian banking system.

Art. 80-82 of the said Law. In accordance with these articles, the Bank of Russia:

• coordinates, regulates and licenses the organization of settlement, including clearing, systems in the Russian Federation;
• establishes the rules, forms, terms and standards for non-cash payments, mandatory for all business entities, enterprises, organizations and the population;
• conducts interbank non-cash payments through its institutions.

The legal framework for regulating the Russian payment system also includes the Civil Code of the Russian Federation, the Federal Law of the Russian Federation "On Banks and Banking Activity" and the regulations of the Bank of Russia itself.

The concept and structure of the payment system of the Bank of Russia

Non-cash settlements and payments are made through the payment system of the country. Under payment system refers to a set of legal, organizational, economic, technological, technical and information means that ensure settlements and payments between participants in the payment system.

Payment system participants providing and using means of payment are, on the one hand, end users (enterprises and individuals) exchanging non-cash money and having bank accounts, and credit institutions, on the other hand, providing means of payment at the disposal of participants and making transfers. Money.

The effective and uninterrupted functioning of the payment system, considered as the goal of the Bank of Russia, must comply with such characteristics as:

• reliability and timeliness, excluding the possibility of disruption of the normal functioning of the system of settlements and payments. Reliability and timeliness of transactions speeds up the process of fulfillment of obligations by payment system participants and reduces the costs necessary for its implementation, which makes it easier for enterprises and banks to manage liquidity. The timeliness of the transfer of funds is also important because money has a "time value". Moreover, delays in payments cause uncertainty in payment in general, an increase in risk, an increase in the costs of participants in the system;
• efficiency, ensuring fast and accurate operations at minimal cost;
• fairness - all participants in the system of settlements and payments must comply with uniform established requirements.

The Russian payment system consists of two segments:

1. payment system of the Bank of Russia, within the framework of which interbank settlements are carried out through the RCC;
2. private payment systems, which include: intra-bank payment systems for settlements between divisions of one credit institution, payment systems of credit institutions for settlements on correspondent accounts opened with other credit institutions, payment systems of settlement non-bank credit institutions, settlement systems between customers of one division of a credit institution .

Both segments of the payment system are relatively independent and systemically important. But the payment system of the Bank of Russia in the country's payment system is the most significant. It ensures the settlement of payments in rubles using funds held in accounts with the Bank of Russia.

The territorial institutions of the Bank of Russia are located in the regions of the Russian Federation, which basically coincide in terms of territory with the constituent entities of the Russian Federation, and in some cases in regions that unite the territories of several constituent entities of the Russian Federation. Each regional branch of the Bank of Russia has regional components of the payment system.

The payment system of the Bank of Russia provides:

• crediting funds to customer accounts on the day of receipt; in certain regions, these funds are debited and credited in a mode close to real time, with the possibility of their immediate use;
• the ability to manage liquidity by providing credit institutions with intraday loans secured by collateral;
• implementation of measures of the monetary policy of the Bank of Russia through servicing credit, deposit, currency and other transactions of the Bank of Russia;
• settlements in the securities market and the foreign exchange market.

The payment system of the Bank of Russia is a gross system, i.e. all payments are settled on the participants' accounts on an individual basis. Gross settlements (gross settlements) involve a separate transaction by means of a corresponding transfer of funds for each instruction or demand. Payments are made sequentially as payment documents are received during the day.

In the process of functioning of the payment system, the Central Bank regulates the system of settlements and payments in a number of areas. It:

• legal regulation (development of instructions, other regulatory documents);
• implementation of settlement services (settlements between commercial banks);
• participation in the settlement of payments through the provision of loans to complete the settlements;
• supervision of payment system participants;
• risk management, primarily settlement risks;
• organization of a system of electronic payments, protection of banking information.

Within the framework of legal regulation, Bank of Russia Regulation No. 2-P dated April 12, 2001 "On non-cash payments in the Russian Federation" is of particular importance. The regulation, developed in accordance with the Civil Code of the Russian Federation, the Federal Laws "On the Central Bank of the Russian Federation (Bank of Russia)", "On Banks and Banking Activity" and other laws of the Russian Federation, regulates the implementation of cashless payments in the currency of the Russian Federation and on its territory in the forms stipulated by law, determines the formats, procedure for filling in and execution of settlement documents used, and also establishes the rules for conducting settlement transactions on correspondent accounts (subaccounts) of credit institutions (branches), including those opened with the Bank of Russia, and on accounts of interbranch settlements.

Legal regulation of non-cash payments by the Bank of Russia

Non-cash payments are made through credit institutions (branches) and/or the Bank of Russia on accounts opened on the basis of a bank account agreement or a correspondent account (subaccount) agreement, unless otherwise established by law and the form of payment used.

Settlement transactions for the transfer of funds through credit institutions (branches) can be carried out using:

• correspondent accounts (sub-accounts) opened with the Bank of Russia;
• correspondent accounts opened with other credit institutions;
• accounts of settlement participants opened with non-bank credit institutions performing settlement operations;
• accounts of interbranch settlements opened within one credit institution.

In the general part of the above Regulation, the main institutional principles are fixed, on which the legal regulation of settlement relations of participants in the payment system is based:

1. funds are debited from the account by order of its owner or without the order of the account owner in cases provided for by law (a generalized list of such cases is defined in clause 2 of article 854 of the Civil Code of the Russian Federation);
2. the debiting of funds from the account is carried out on the basis of settlement documents drawn up in accordance with the requirements of this Regulation, within the funds available on the account, unless otherwise provided in agreements concluded between the Bank of Russia or credit institutions and their clients;
3. the procedure for issuing, accepting, processing electronic payment documents and conducting settlement transactions using them is governed by the Bank of Russia regulations, except for the cases specified in this Regulation, and agreements concluded between the Bank of Russia or credit institutions and their customers that determine the procedure for exchanging electronic documents with the use of information security tools;
4. if the funds on the account are insufficient to satisfy all the claims made against it, the funds are debited as they are received in the order established by law;
5. limiting the rights of the account holder to dispose of the funds on it in cash not allowed, except as provided by law.

When making non-cash payments in the forms, the following settlement documents are used: payment orders; letters of credit; checks; payment requests; collection orders.

In order to carry out settlement operations, each credit institution located in the territory of the Russian Federation and licensed by the Bank of Russia to carry out banking operations shall open one correspondent account at its location in a subdivision of the settlement network of the Bank of Russia. The basis for opening a correspondent account (sub-account) of a credit institution (branch) with the Bank of Russia is the conclusion of an Account Agreement.

Credit institutions (branches) that have opened correspondent accounts (sub-accounts) in subdivisions of the settlement network of the Bank of Russia are assigned bank identification codes of settlement participants (BIC) for the purpose of their unambiguous identification during settlement transactions. The structure of the bank identification code and the procedure for its assignment are established by a separate regulatory document of the Bank of Russia (Regulations on the "BIC RF Directory").

Credit institutions (branches) may send settlement documents to subdivisions of the settlement network of the Bank of Russia from the date of entering information about them in the BIC RF Directory.

The credit institution (branch) determines the type of payment ("by mail", "telegraph", "electronic") and, depending on it, submits settlement documents on paper and / or in electronic form (via communication channels, on magnetic media).

A payment made by a credit institution (branch) through the settlement network of the Bank of Russia is considered:

• irrevocable - after funds are debited from the correspondent account (sub-account) of the payer's credit institution (branch) in a subdivision of the settlement network of the Bank of Russia;
• final - after the funds are credited to the beneficiary's account in the subdivision of the settlement network of the Bank of Russia.

The regulation also regulates in sufficient detail:

• the procedure for a credit institution to submit documents for opening a correspondent account with a subdivision of the settlement network of the Bank of Russia;
• the procedure for opening by a credit institution of a correspondent sub-account in a subdivision of the settlement network of the Bank of Russia in the name of each branch at its location, with the exception of branches served with the parent credit institution or another branch of the credit institution in one subdivision of the settlement network;
• the procedure for carrying out settlement transactions through correspondent accounts opened by credit institutions with other credit institutions ("LORO" and "NOSTRO" accounts), as well as on interbranch settlement accounts on which settlement operations of a credit institution are carried out between the parent organization and branches, as well as between branches within a credit institution;
• the procedure for registration and responsibility for the correctness of the preparation of settlement documents;
• necessary details of settlement documents;
• the procedure for revocation and return of settlement documents from the card index in case of closing the account by the client.

One of the areas of regulation by the Bank of Russia of the system of non-cash settlements and payments is the actual implementation of settlement and payment services. The bulk of non-cash settlements and payments made through the payment system of the Bank of Russia are settlements and payments of credit institutions (branches) and their customers. At the same time, in accordance with the law, the Bank of Russia conducts banking operations for servicing public authorities and local government, state off-budget funds, military units, military personnel, employees of the Bank of Russia and other clients in areas where there are no credit institutions.

The implementation of settlement and payment services by the Bank of Russia provides for compliance with the following main provisions:

1. the acceptance of settlement documents by the Bank of Russia is carried out regardless of the balance of funds on the correspondent account (subaccount) of the credit institution (branch) at the time of their acceptance. Payments can be made within the funds available at the time of payment, and taking into account the funds received during the business day;
2. if the correspondent account (sub-account) of the credit institution (branch) has funds sufficient to satisfy all claims against the account, these funds are debited in the order in which the account holder's instructions and other settlement documents are received during a business day, unless otherwise provided by law and account agreement. The sufficiency of funds on the account means the presence of a balance of funds on the correspondent account (sub-account) of the credit institution (branch) not less than the sum of all claims against it or the fulfillment of the conditions stipulated by the account agreement, which allow settlement operations to be carried out for all claims presented to the account, the amount which exceeds the amount of the balance of funds in the account;
3. cash debit and credit operations carried out on the correspondent account (sub-account) of a credit institution (branch) are reflected in the balance sheet of the credit institution (branch) on the date they are performed in a subdivision of the settlement network of the Bank of Russia;
4. in the event of insufficient funds on the correspondent account (subaccount) of the credit institution (branch), the funds debited from the payer's account are reflected in the balance sheet account of funds debited from customer accounts, but due to insufficient funds not posted to the correspondent account (subaccount) of the credit institution organization (branch);
5. The Bank of Russia charges for settlement services in the form of established fixed tariffs. Tariffs are differentiated depending on the methods of making payments, methods of transferring settlement documents by Bank of Russia customers to the payment system of the Bank of Russia, and also depending on the time of transferring documents within a specified transaction day. In order to stimulate the introduction of modern means of communication and electronic payments by Bank of Russia customers, low tariffs have been set for them. Higher - for payments using paper carriers. In addition, the establishment of the highest tariffs for services by the end of the trading day is intended to help equalize the volume of document flow within the trading day, accelerate the turnover of funds and enhance the processes of managing the intraday liquidity of credit institutions.

   In addition, the Bank of Russia charges a fee for the service of making a paper copy of an electronic payment document.

   When providing settlement services to customers for a fee, the Bank of Russia, in accordance with the legislation of the Russian Federation, conducts part of the operations free of charge. Basically, these are operations with funds from budgets of various levels and state off-budget funds, including tax transfers, operations of federal treasury bodies.

   With the growth in the number of processed customer payments, the proportions between paid and free payments remain almost constant. Based on this, the structure of settlement services in terms of the nature of their provision (on a paid or free basis) does not change significantly. Thus, the share of transactions carried out by the Bank of Russia for a fee in 2004 amounted to 39.9%, free of charge - 60.1%;

6. the fee is charged from credit institutions (branches) and other customers of the Bank of Russia whose accounts are debited, including debiting without the account holder's instructions, as well as in case of partial payment of settlement documents in case of insufficient funds on the account.

As part of the provision of settlement services (settlements between commercial banks), settlements and payments are also regulated by the Bank of Russia using Bank of Russia loans in cases established by Bank of Russia regulations and agreements concluded between the Bank of Russia and credit institutions. These loans allow credit institutions to fulfill their payment obligations in a timely manner and in full.

If banks need additional liquidity, they can use the range of credit instruments offered by the Bank of Russia. During the day, these can be secured intraday loans provided by the Bank of Russia without charging a fee, as well as auctions of one-day direct REPO held in the morning and afternoon. In addition, the Bank of Russia conducts weekly operations to provide liquidity to banks for longer periods: direct REPO auctions for a period of 7 and 90 days, as well as Lombard credit auctions for a period of 2 weeks. At the end of the trading day, credit institutions have access to permanent instruments of the Bank of Russia - overnight loans and FX swap transactions, interest rates for which they are set at the level of the refinancing rate (in accordance with the Main Directions of the Unified State Monetary Policy for 2005, 13-c).

The improvement by the Bank of Russia of the current lending system and the gradual centralization of this process through the creation of a unified software complex of credit operations will ensure the smooth functioning of the system of cashless payments, decoupling non-payments and help banks manage their liquidity more efficiently.

Regulation of the system of non-cash settlements and payments by the Bank of Russia also implies supervision of each participant in the Russian payment system and risk management (settlement, credit, liquidity risk).

Supervision of the Bank of Russia over the participants of the Russian payment system and private payment systems

Supervision of participants in the Russian payment system involves the activities of the Bank of Russia in the following interrelated areas:

• supervision of credit institutions;
• supervision of the functioning of private payment systems.

The regulation by the Bank of Russia of the system of non-cash settlements and payments made by credit institutions is carried out as part of the general supervisory activities of the central bank, primarily as part of preventive prudential supervision during the registration and licensing of banking activities and current supervision, which is subdivided into documentary supervision of banks and inspection.

In modern conditions, banking supervision throughout the world is the most developed area of ​​supervision (control) over the activities of financial intermediaries. This feature is due to the paramount importance of the stability of the banking sector for overall financial and socio-economic stability. In turn, this value is derived from the key role of the banking system in the organization of settlements and payments of economic counterparties.

The central link in the system of banking supervision over the activities of credit institutions in Russia, as in many countries, is prudential (documentary) supervision. Its purpose is to detect, through continuous monitoring, early stage the emergence of problems in the bank, the aggravation of which can lead to insolvency and loss of liquidity, to the bankruptcy of a credit institution and, accordingly, to failures in settlements and payments.

The requirements of the Bank of Russia on the organization of an internal control system in credit institutions correspond to the same goal. Control is an integral function of management. With the help of control, it is possible to determine whether the organization has achieved its goals, to identify errors of management and staff. Control is not limited to restrictions that force everyone to act within the limits established by law, regulations and standards professional activity. Control- this is primarily the process of ensuring that the credit institution achieves its goals, including the uninterrupted implementation of settlements and payments.

Internal control over compliance with the requirements of the current legislation and regulations is organized in the fundamental areas of banking activity and involves, in conjunction with other forms, control over compliance with the rules for settlements and payments on obligations.

The supervision of the Bank of Russia over the functioning of private payment systems, the elements of which are credit institutions (banking and non-banking), is carried out through both general supervisory activities over the functioning of the banking sector and monitoring the state of settlements and payments in the country using private payment systems. The importance of such monitoring is due to the fact that the development of the country's economy, the growth of requests in the financial and non-financial sectors of the economy require reliable, safe and efficient mechanisms for making settlements and payments, the introduction of modern payment services, including in such areas of settlements as intra-bank settlements, settlements on on the basis of interbank correspondent relations, as well as clearing (netting) settlements carried out by non-bank credit institutions.

Bank of Russia management of settlement risks

Organization by the Bank of Russia of effective regulation of the system of cashless settlements and payments today is impossible without risk management, including calculated ones. The latter are associated with the traditional banking business of servicing cash flows in the form of cashless payments on bank accounts both on behalf of the client and on behalf of the bank itself when it fulfills its obligations in the financial markets, in connection with regulatory goals, banking policy objectives, etc.

The main settlement risks include:

• risks of non-payment or violation of payment terms;
• risks of non-compliance of the chosen form of settlements, methods of payment and document flow with the nature of the transaction and the economic content of the settlement operation;
• operational or technological risks associated with the quality of work of all departments involved in settlement transactions;
• risks of non-compliance and violation of legislative and regulatory requirements for the organization of settlements;
• risks of interbank settlement technologies.

Most of these risks are actively managed by the management of the bank itself within the framework of various banking goals and strategies. These risks are managed by the Central Bank of the Russian Federation within the framework of general supervisory activities and, if a poor quality of management is revealed, it applies appropriate preventive and enforcement measures to the bank.

The Bank of Russia pays special attention to the risks of non-compliance and violation of legislative and regulatory requirements for the organization of settlements and the risks of interbank settlement technologies.

A specific manifestation of the risks of non-compliance and violation of legislative and regulatory requirements for the organization of settlements can be:

• violation of established requirements when opening, maintaining and closing settlement and current accounts of clients;
• carrying out cashless payments on the territory of the Russian Federation without using the currency of the Russian Federation, including in foreign currency;
• use of forms of non-cash payments not provided for by the Civil Code of the Russian Federation and the Regulations on non-cash payments on the territory of the Russian Federation;
• violation of established standards for filling out and processing settlement documents;
• non-compliance with the rules for conducting settlement transactions on correspondent accounts (sub-accounts) of credit institutions (branches) and accounts of inter-branch turnovers;
• non-compliance with the order of payments established by law from settlement, current and correspondent accounts;
• write-off of funds without the order of clients, with the exception of cases provided for by law;
• write-off of funds in excess of the account balance, except for cases involving overdraft lending;
• restriction of the rights of the account holder to manage the funds on the account and the account itself;
• violation of the procedure for issuing, receiving, processing electronic payment documents, as well as the procedure for exchanging them using information security tools.

When managing the risks of interbank settlement technologies, the Central Bank of the Russian Federation pays special attention to quality control of documenting interbank settlements. Interbank settlements and payments actually “complete” settlements and payments in the non-financial sector of the economy, so the quality of settlements largely determines the timeliness of settlements and payments.

In accordance with the regulatory requirements of the Bank of Russia, special attention is paid to the execution of contracts and the preparation of documentation for opening an account. The agreements stipulate, in particular:

• an agreed procedure for opening, confirming and executing letters of credit, transferable, collection operations;
• the amounts and conditions for charging commission payments for the use of a correspondent account and reimbursement of postal and telegraph expenses;
• responsibility of the parties and sanctions for violation of the terms of the contract;
• contract time;
• the procedure for transferring account statements and their reconciliation. A specific manifestation of the risks of interbank settlement technologies in terms of non-compliance and violation of legislative and regulatory requirements for the organization of settlements can be:

1. - mismatch of the details specified in the statement from the correspondent account (sub-account) with the details of the attached settlement documents, which are the basis for the operation,
2. - return of a consolidated payment order without payment from a correspondent account to the Bank of Russia in the absence of an inventory and settlement documents,
3. - inconsistency between the names, location, BIC of credit institutions (branches) of the payer and recipient and the numbers of their correspondent accounts (subaccounts) with the "BIC RF Directory",
4. - discrepancy between the account numbers of the payer and the recipient of funds in terms of compliance with the permissible bit depth of digital characters.

Regulation of the electronic payment system by the Bank of Russia

During the functioning of the payment system, the Bank of Russia regulates the system of non-cash settlements and payments also within the framework of organizing an electronic payment system and protecting banking information.

Electronic payments represent a system for performing interbank settlement transactions based on customer orders transmitted in electronic form using electronic means of communication.

The purpose of making payments electronically is to speed up the turnover of funds and reduce their volume in settlements, improve the quality of banking services using modern electronic means of communication.

Reforming its own settlement system using electronic money transfer systems is one of the Bank of Russia's priorities. The purposeful activity of the Bank of Russia to expand the use of electronic payments leads to an increase in their share of the total (92.7% in 2004) and of the total volume of payments (92.1% in 2004) (Chart 8.1).

Rice. 8.1.

The main goal of the activity of the Central Bank in this direction is to create modern system electronic interbank settlements, focusing on a multilateral system of settlement of payments within certain regions of the country and between them, in the mass introduction of modern information technologies in banking institutions, in the organization of the industry of banking automated systems and complexes, in the introduction of a modern banking telecommunications network that interacts with foreign banking and financial institutions.

Achieving this goal involves solving the following tasks:

• acceleration of banking operations for users of the system by eliminating paper documents for payments within the system and replacing them with electronic ones;
• prompt provision of synthetic and analytical data on the progress of payments made to the management of the Bank of Russia;
• ensuring the required security of monetary settlements between users of the system;
• strengthening control over compliance with payment discipline by commercial banks and credit institutions.

The legal basis for the functioning of the system of electronic interbank settlements is formed by: the Civil Code of the Russian Federation, Federal Law No. 1-FZ of January 10, 2002 "On Electronic Digital Signature", Federal Law No. 24-FZ of February 20, 1995 "On Information, Informatization and Protection information", regulations governing banking activities in the field of electronic settlements, primarily the regulatory assets of the Central Bank of the Russian Federation on electronic settlements, in particular, the Regulation of the Bank of Russia "On electronic settlements carried out through the settlement network of the Bank of Russia", state licenses and certificates on the compliance of the bank in terms of the provision of electronic banking services, the agreement between the client and the bank in terms of the provision of electronic banking services.

The system of electronic interbank settlements within the framework of the payment system of the Bank of Russia has a hierarchical organizational structure that basically coincides with its existing structure.

The institutional elements of the system of electronic interbank settlements are the Main Departments of the Central Bank of the Russian Federation for the regions (oblasts, territories and republics), as well as the RCC network (GRCC, field institutions), which meet the following requirements:

• apply the accounting procedure and technology for making electronic settlements in accordance with the requirements of regulatory documents of the Bank of Russia;
• have available appropriate software and hardware and qualified personnel;
• comply with the requirements of the Bank of Russia on the security of technologies for processing electronic payment documents.

The interregional (cluster) level of the system includes a large Interregional Informatization Center (ICC), which performs the functions of settlements for its region (regions, territories), as well as the functions of a switching center for several regional centers connected to it by high-speed backbone data transmission channels.

The users of the system can be credit institutions, their branches and other institutions and organizations (federal treasury bodies, local governments, state non-budgetary funds, ministries and departments) that have correspondent or settlement accounts with the RCC - participants in the system.

A feature of electronic payments is their guarantee and irrevocability along the entire route with the correct preparation of an electronic payment document.

Under guaranteed electronic payment the integrity of its transmission through telecommunications channels from the source point of payment to the destination point is understood. The guarantee of processing and transfer of payment is provided to any other participant within 24 hours.

Irrevocability means the inadmissibility of the return of an electronic payment along its entire route.

To conduct transactions on customer accounts in the Bank of Russia system, system participants can use electronic payment documents (EPD) of the following types:

• full-format EPD containing all the details of the payment document, including text. At present, the efforts of the Bank of Russia are aimed at increasing the share of payments made by electronic full-format payment documents containing all information about the payment;
• EPD of the abbreviated format (EPDSF), containing the details required for transactions on accounts in an institution of the Bank of Russia;
• electronic service information documents (ESID).

The listed documents are signed with an electronic digital signature (EDS) and have equal legal force with payment documents on paper, sealed with handwritten signatures of authorized persons and certified by a seal.

Electronic digital signature is a type of analogue of a handwritten signature and is an information security tool that provides the ability to control the integrity and authenticate electronic documents. EDS allows you to confirm its belonging to the registered owner. A positive result of checking for the correctness of the EDS of an electronic payment document is the basis for the subsequent stages of processing the document.

The exchange of electronic payment documents between credit institutions, other clients of the Bank of Russia and the servicing subdivision of its settlement network is carried out in packages (parcels), which consist of one or more EPDs signed by one EDS. At the same time, each document is not individually signed with an EDS.

It is not allowed to make any changes to electronic payment documents received by the Bank of Russia settlement network.

Debiting funds from the payer's account and crediting them to the recipient's account in the subdivisions of the settlement network of the Bank of Russia is carried out programmatically in accordance with the values ​​of the digital details of the payer and recipient specified in the document, namely:

• the bank identification code of the credit institution or subdivision of the settlement network of the Bank of Russia serving the payer/beneficiary;
• correspondent account number of the credit institution servicing the payer/beneficiary;
• personal account number of the payer/beneficiary.

Operations are performed regardless of the content of the EPD text details. Claims arising from incorrect crediting of funds to recipients' accounts due to a mismatch between digital and text details are regulated directly between the payer and recipients, bypassing the units of the Bank of Russia settlement network.

The production and execution of EPD on paper is carried out in a subdivision of the settlement network of the Bank of Russia (as a rule, provided that the client or credit institution does not participate in the electronic exchange of payment documents). If electronic payment documents are brought to the credit institution in electronic form, it is possible to print and execute the document by the recipient credit institution.

In addition to the electronic digital signature, in order to protect the document flow from unauthorized access, maintain confidentiality and the possibility of exchanging information in an automated mode when making payments electronically, the Bank of Russia has established certain requirements for technologies, systems and means of processing, transferring and storing EPD, developed in accordance with the provisions of the State technical commission of the Russian Federation and federal agency Government Communications and Information under the President of the Russian Federation (FAPSI of Russia; currently reorganized).

The system of electronic interbank payments consists of systems of intraregional electronic payments and interregional electronic payments. In 2004, 1,138 institutions of the Bank of Russia, or 97.1% of their total number, were participants in intraregional electronic settlements, and 1,083 institutions of the Bank of Russia, or 92.4%, were participants in interregional electronic settlements.

For the participation of cash settlement centers of the region in intra-regional electronic settlements in the territorial office of the Bank of Russia, on the basis of the Standard Regulations of the Bank of Russia on making intra-regional electronic payments in the system of the Central Bank of the Russian Federation, their own Temporary Regulations on making intra-regional electronic payments are being developed at the regional level. It takes into account the procedure and technology for automated processing of banking information in the region.

The inclusion of a region for participation in intra-regional electronic settlements is formalized by an order for a territorial office of the Bank of Russia. The decision to include the region's RCC in the system of intra-regional electronic payments is made by the management of the territorial branch of the Bank of Russia. The readiness of cash settlement centers is determined on the basis of an analysis of software and hardware, telecommunications, information security tools, the degree of personnel training and is established by a special commission, which includes specialists from the departments of informatization, accounting, as well as the department of security and information protection.

Intra-regional electronic payments must be made "to the same day", i.e. funds debited from the accounts of senders (correspondent accounts/sub-accounts of credit institutions and accounts of other clients) of the settlement unit of the Bank of Russia during a business day must be credited to the accounts of recipients of the settlement unit of the Bank of Russia. The region is developing a schedule for the delivery, transfer and acceptance of electronic payments and the exchange of service and information messages.

Depending on the order and technology of automated processing of banking information that have developed in different regions, the following methods of processing accounting and operational information are distinguished:

• centralized (accounting and operational information of institutions of the Bank of Russia in the region is fully processed on technical means in the department of informatization of the region);
• decentralized (accounting and operational information of the institutions of the Bank of Russia in the region is processed locally using their own technical means);
• decentralized with the creation of a single message switching center.

If there is local processing of information in the institutions of the Bank of Russia in the region, a subdivision is created as part of the regional head RCCs - a settlements switching center, whose functions are to ensure the transport of electronic payments within the region using telecommunications, as well as control and reconciliation of electronic settlements.

The information entered into the electronic system of interbank settlements is transmitted by means of telecommunications with the help of special software and hardware protection tools adopted for use in the region.

When accepting electronic documents, the details of the recipient of funds are checked in the cash and settlement center of the recipient, then, based on the received electronic payments, paper copies of electronic documents are made and executed. If the said paper copies are made and executed by the credit institution itself, the RCC prints out for itself a register of accepted electronic documents, which is filed and stored in accordance with the requirements of the Bank of Russia for binding and storage of memorial documents of the day. On the same day, upon completion of the processing of received electronic documents using telecommunications, a confirmation of receipt of the payment and its acceptance to the wire is sent to the RCC - the sender of the payment. With the centralized method of processing accounting and operational information, confirmations are not sent.

On the basis of the received confirmations, the RCC - the sender of the payment performs matching of previously sent electronic payment documents. With a decentralized method of processing accounting and operational information without creating an informatization unit, the matching of electronic payments is carried out directly in the RCC. In the matching process, all the details of the initial EPD are programmatically compared, except for the payment purpose texts, the names of the client and his correspondent, with the corresponding confirmation details. These props include:

• the serial number of the electronic document and the date of its entry;
• bank identification code of the credit institution - payer and the number of its correspondent account;
• payer's account number;
• bank identification code of the credit institution - the recipient and the number of its correspondent account;
• recipient's account number;
• the number of the original payment order and the date of its issue;
• type of operation;
• document amount.

An electronic payment document is considered matched if the specified details match.

In case of non-receipt of a confirmation by the RCC within a business day, the sender of the payment forms and sends a request for confirmation to the address of the RCC-recipient. If no confirmation is received from the last (including the sent request) during the working day, electronic settlements with this RCC are temporarily suspended and prompt measures are taken to identify the causes of the failure (most often such cases are due to an emergency situation).

Thus, the technology used in the regions of the Russian Federation for making intra-regional electronic payments makes it possible to quickly (within one business day) conduct interbank settlements within the region through the settlement network of the Bank of Russia. The result of the use of electronic technologies in settlement transactions is the acceleration of the turnover of funds of economic entities in the region.

Inter-regional electronic payments are made depending on the remoteness of the time zones of the regions in which the payer and the recipient are located, as a rule, during the day or no later than the next.

The rules for making interregional electronic payments are the same for all regions.

In each region, one institution of the Bank of Russia acts as the main participant in settlements, which is entrusted with the functions of accounting and control of interregional electronic settlements. Determining the readiness of the Bank of Russia settlement network subdivisions to conduct interregional electronic payments and making a decision on their inclusion in the composition of the participants in this type of settlements are carried out on the basis of the conclusions of the commission formed by the Information Systems Department, the Telecommunications Department, the Main Directorate for Security and Information Protection, the Administrative Group of the Bank of Russia for checking the readiness of the region to make electronic payments.

The functions of organizing and accounting for interregional electronic payments are performed by the head participant of interregional electronic payments, which, as a rule, is the Head Settlement and Cash Center. The head participant of settlements sends and receives electronic payment documents via the system of interregional telecommunications and keeps records of this type of transactions.

The procedure for processing sent and received interregional electronic payments in the region is approved by the territorial office of the Bank of Russia. The procedure for conducting and accounting for transactions on interregional electronic payments transferred from subordinate RCCs and directed to the latter is determined depending on the method of processing accounting and operational information implemented in the region (centralized or decentralized).

The electronic payment documents formed in packages are transferred by the cash settlement center to the GRCC using the means of intra-regional telecommunications and information security tools.

Electronic payment documents of cash settlement centers, as well as serviced credit institutions and other customers of the GRCC, received and passed the appropriate control in the GRCC, are sorted by recipient regions into packages and transferred to the GRCC-recipient by means of telecommunications according to the established schedule.

Interregional electronic payments accepted for processing are accounted for on the balance sheet of the GRCC. Not later than the next business day, the recipient GRCC must confirm receipt of electronic payment documents.

Confirmations are used in the GRCC to match sent electronic payments. To create a paper document in the RCC (confirmation of acceptance of electronic payment documents by the GRCC-recipient), the GRCC-sender sends him information about received confirmations by means of telecommunications.

Upon receipt of packages of inter-regional electronic payments, the GRCC-recipient performs their respective program and logical control.

Packets that have not passed program control are automatically rejected and returned to the GRCC-sender without execution.

Logical control is carried out in case of a positive result of program control and consists in program checking the details of received electronic documents for the absence of a number of errors, namely:

• the correctness of the dates of entering an electronic document and issuing a payment order, on the basis of which the first one was drawn up;
• the absence of invalid characters in the number of the original payment order, the code of the order of payment, the date of payment and the type of transaction;
• the absence of invalid characters in the text details of the EPD (TIN of the payer and recipient, their names, purpose of payment);
• the correctness of the correspondent account numbers of credit institutions indicated in the EPD, their bank identification codes, key categories in the personal accounts of payers and recipients;
• participation of cash settlement centers of the payer and the recipient in inter-regional electronic payments;
• the presence of the beneficiary accounts specified in the EPD in the balance sheet of the cash register office, to which the document was received.

Depending on the results of logical control of the details of electronic payment orders and the location of the beneficiary's account, the following schemes for processing data received from correspondent regions are provided:

• crediting funds to the correspondent account of the credit institution in the State Commission for the Investigation of the Republic of Kazakhstan;
• crediting funds to the account of a Bank of Russia client at the GRCC;
• crediting funds to accounts for recording intra-regional electronic payments for subsequent transfer using telecommunications to the RCC-recipient with a decentralized method of processing accounting and operational information;
• crediting to the account of the client of the Bank of Russia in the cash settlement center, subject to the service of the SCRC and the RCC in the same informatization division (centralized processing method);
• crediting funds in the GRCC to a separate account in the form of credit amounts transferred according to mutual settlements pending clarification - in the absence of a bank identification code of a credit institution or a unit of the settlement network of the Bank of Russia in the BIC RF Directory, a mismatch between the correspondent account number of a credit institution and its bank identification code, an incorrectly specified account number of a Bank of Russia client with the GRCC, as well as for other reasons identified as a result of logical control of the details of electronic documents.

For electronic payments, the recipients of which are customers of the Bank of Russia - credit institutions serviced by the RCC or GRCC and not using telecommunications for the exchange of electronic documents, copies of electronic payment documents are printed in the settlement network of the Bank of Russia. In cases where an agreement with a credit institution or other clients of the Bank of Russia institution provides for the transfer of EPD via telecommunications channels, a package of electronic payment documents signed by the electronic digital signature of the RCC or the informatization unit is sent to them. In this case, copies of electronic documents on paper are printed directly at the credit institution or by the client of the Bank of Russia.

For inter-regional electronic payments received by the GRCC recipient, confirmation packages are created on the acceptance of electronic payment documents for wire. The generated confirmation package is sent to the regions - senders of payments on the day of receipt of the EPD or on the next business day, but no later than 10:00 local time.

Thus, the use of interregional electronic payments allows customers of credit institutions and Bank of Russia settlement network units to significantly speed up settlements with their partners from other regions of the Russian Federation.

An important advantage of new technologies for making interbank settlements is the increase on their basis of the reliability, reliability and security of processed and stored information. Therefore, a necessary technical condition for the implementation of the system of interbank electronic payments in the system of the Bank of Russia is a reliable telecommunications environment and coordinated information support between payment participants.

Measures taken by the Bank of Russia to ensure the security and protection of information in the payment system of the Bank of Russia

In the field of security and information protection in the Bank of Russia payment system, the following is provided: user identification, integrity control and confirmation of the authenticity of payment documents, access rights differentiation and protection against unauthorized access to the resources of payment processing systems, control over settlement transactions, confidentiality (cryptographic protection) of the payment information, reservation of software and hardware complexes and information resources.

In traditional banking technologies, the security of payments is ensured by the presence and authenticity of the signatures of authorized persons on the payment documents and the seal of the organization, bank, other necessary marks and stamps, the presence of which is regulated by the relevant banking rules. At the same time, the physical carrier of information (paper) and the means of authentication applied to it (signatures, seals, stamps) are inseparable.

In electronic documents, the physical connection is replaced by a mathematical one, which makes it possible to establish the authenticity of information based on its internal structure. This is achieved by cryptographically transforming the original information using a special secret key. Thus, the protection of electronic document management requires qualitatively new ways and methods to ensure the required level of security of the information processing technologies used.

In this regard, the Bank of Russia closely cooperated with the FAPSI of Russia. Given the particular relevance of the issues of protecting telecommunications and settlement systems at the present stage of development of the domestic banking system, the FAPSI of Russia, acting strictly within the law, developed and implemented a set of measures to protect banking information transmission systems and ensure the security of electronic banking payments. For these purposes, in 1994, it completed work on the creation of domestic cryptographic algorithms for electronic digital signature, then approved as state standards. The purpose of the Federal Law "On Electronic Digital Signature" adopted in 2002 is to ensure the legal conditions for the use of EDS in electronic documents, under which the EDS in an electronic document is recognized as equivalent to a handwritten signature in a document on paper. The said Federal Law applies to relations arising in the course of civil law transactions and in other cases stipulated by the legislation of the Russian Federation.

The requirements of the Bank of Russia itself to ensure the security of technologies for processing electronic payment documents are developed in accordance with the provisions federal laws, regulatory documents of the Central Bank of the Russian Federation, the State Technical Commission of the Russian Federation, FAPSI of Russia. Development of technical specifications, design, creation, testing and commissioning of systems for processing, transmitting and storing electronic payment documents in the electronic payment system can be carried out only in agreement with the Central Directorate for Security and Information Protection of the Bank of Russia and its divisions in the territorial offices of the Bank of Russia.

The procedure for ensuring the security of electronic document processing technology used by the Bank of Russia and its divisions involved in electronic payments is ensured by the creation of a system that includes a set of technological, organizational, technical and software measures and means of protection at the stages of preparation, processing, transmission and storage of EPD.

The core of such a security system is a cryptographic information protection system designed to ensure the confidentiality, integrity and authenticity of data and prevent unauthorized access to their content or modification. Specialized organizations involved on a contractual basis for the development and installation of EPD protection means and systems must have licenses from the State Technical Commission of Russia and other state bodies in accordance with Russian law. The means of protecting information from unauthorized access used in this case must be certified by the State Customs Committee of Russia.

The internal procedure for applying means of protection against unauthorized access and ensuring cryptographic protection of information is determined directly by the management of the Bank of Russia.

Responsibilities for the administration of software and hardware for protecting electronic payment documents for each technological section of the passage of these documents are assigned to the relevant specialists involved in this section and who are information security administrators. Their main responsibilities include ensuring the functioning of the established information security tools and systems, monitoring the proper observance of instructions for their operation, as well as identifying and recording attempts of unauthorized access to the electronic payment processing system.

In order to ensure information security when making electronic payments, Bank of Russia specialists are taking a set of measures that can be conditionally divided into the following blocks:

• ensuring information security in the implementation and operation of electronic payment processing systems;
• ensuring information security when transferring electronic payment documents;
• ensuring the protection of premises and technical means;
• ensuring information security when using cryptographic means of protection;
• control over the security of the technology for processing electronic payment documents.

The process of improving and developing the system of electronic payments and protecting banking payment information is ongoing: regular updating of the current software, development of the regulatory framework, improvement of the telecommunications banking network, systems for ensuring security and protection of payment information. Modern stage functioning of domestic electronic interbank settlements can be characterized as a stage in the formation of new modern technologies for making payments, as well as initial stage integration of the national banking system into the global banking system.

T.A. GUSEVA, M.N. DRAKINA

1. The procedure for making cash settlements
Settlements with the participation of citizens that are not related to their entrepreneurial activities can be made in cash without limiting the amount or by bank transfer (clause 1 of the Civil Code of the Russian Federation) - the law does not establish any restrictions on such calculations.
However, the procedure for cash settlements for legal entities and individual entrepreneurs is regulated by law very strictly.
All organizations and individual entrepreneurs are required to keep free cash in banking institutions.
Settlements between legal entities, as well as settlements with the participation of citizens related to their entrepreneurial activities, are made in a non-cash manner. Settlements between them can also be made in cash, unless otherwise provided by law (clause 2, article 861 of the Civil Code of the Russian Federation).
2. Cashless payments
At present, the procedure for making cashless payments is regulated by the Regulation on cashless payments in the Russian Federation N 2-P, approved by the Central Bank of the Russian Federation on October 3, 2002 (as amended on March 3, 2003) (hereinafter referred to as the Regulation on cashless payments).
This Regulation governs non-cash settlements between legal entities and individual entrepreneurs in the currency of the Russian Federation (i.e. in rubles) and on its territory and does not apply to the procedure for making non-cash payments involving individuals.
Cashless payments are made through credit institutions (branches) and / or the Bank of Russia on accounts (hereinafter referred to as banks) opened on the basis of a bank account agreement or a correspondent account (sub-account) agreement, unless otherwise established by law and is not stipulated by the form of payment used.
Forms of non-cash payments
a) settlements by payment orders;
b) settlements under a letter of credit;
c) payments by checks;
d) collection settlements.
Forms of non-cash payments are chosen by bank customers independently and are provided for in agreements concluded by them with their counterparties (hereinafter referred to as the main agreement). Banks do not interfere in the contractual relationships of customers. Mutual claims on settlements between the payer and the recipient of funds, except for those arising through the fault of banks, are resolved in the manner prescribed by law without the participation of banks.
When making cashless payments, the following settlement documents are used:
a) payment orders;
b) letters of credit;
c) checks;
d) payment requests;
e) collection orders.
Settlements by payment orders
A payment order is an order of the account holder (payer) to the bank serving him, drawn up by a settlement document, to transfer a certain amount of money to the account of the recipient of funds opened in this or another bank. The payment order is executed by the bank within the period provided for by law, or within a shorter period established by the bank account agreement or determined by the business practices used in banking practice.
Payment orders can be made:
a) transfer of funds for goods supplied, work performed, services rendered;
b) transfer of funds to the budgets of all levels and extra-budgetary funds;
c) transfer of funds for the purpose of repayment/placement of credits (loans)/deposits and payment of interest on them;
d) transfer of funds for other purposes provided for by law or the contract.
In accordance with the terms of the main agreement, payment orders can be used for advance payment for goods, works, services or for making periodic payments.
The payment order is drawn up on the form 0401060.
Payment orders are accepted by the bank regardless of the availability of funds in the payer's account.
The possibilities of using payment orders in settlements are diverse. With their help, settlements are made both for commodity and non-commodity transactions. In settlements for goods and services, payment orders are used when making payments for goods received and services rendered, for payments in advance payment and services, for repayment of accounts payable for commodity transactions; when making payments for goods and services by court and arbitration decisions; on rent for premises; payments to transport, communal, household enterprises for maintenance, etc.
In settlements for non-commodity transactions, payment orders are used to make payments to the budget and extra-budgetary funds; repayment of bank loans and interest on loans; contributions to statutory funds when establishing JSCs, partnerships, etc.; acquisition of shares, bonds, certificates of deposit, bank bills; payment of penalties, fines, penalties, etc.
Settlements using payment orders are the most common form of non-cash payments in practice, especially since modern banking technologies make it possible to make electronic payments "to the same day". The main distinguishing feature of this form of cashless payments is that the payment initiative comes from the payer.
When making payments by payment orders, the bank that accepted the order for execution undertakes not only to write off the required amount from the client's account, but also to ensure its transfer to the recipient's account. Those. the payment order is considered to be duly executed by the bank when the funds are credited to the beneficiary's account. The Bank of Russia sets the terms for non-cash payments. The total period of non-cash settlements should not exceed 2 business days within the subject of the Russian Federation, 5 business days within the Russian Federation.
Presentation of a payment order to the bank - an action performed by the client in pursuance of the bank account agreement.
The Civil Code of the Russian Federation (clause 2) grants the right to the bank that accepted the order, at its discretion, with the greatest benefit and economy, to determine the settlement structure, including deciding whether the order will be executed by the bank independently or with the involvement of other banks.
In paragraph 3 of Art. 865 of the Civil Code of the Russian Federation, the obligation of the bank to immediately inform the client about the execution of the order is legally fixed.
The most significant rules concerning the liability of banks for non-execution or improper execution of an order are contained in clause 2 of the Civil Code. This rule allows, in the event of a dispute, to apply liability directly to the bank that committed the violation. Procedurally, this can be implemented by involving the banks involved in the payment, when considering a dispute in court as co-defendants. In this case, the court may lay responsibility directly on the offender, even if he is not a party to the contract with the payer. Responsibility can be assigned taking into account the fault of each of the banks.
Settlements under letters of credit
A letter of credit is a conditional monetary obligation accepted by a bank (hereinafter referred to as the issuing bank) on behalf of the payer, to make payments in favor of the recipient of funds upon presentation by the latter of documents corresponding to the terms of the letter of credit, or to authorize another bank (hereinafter referred to as the executing bank) to make such payments.
Banks can open the following types of letters of credit:
- covered (deposited) and uncovered (guaranteed);
- revocable and irrevocable (can be confirmed).
When opening a covered (deposited) letter of credit, the issuing bank transfers at the expense of the payer's funds or the credit provided to him the amount of the letter of credit (coverage) at the disposal of the executing bank for the entire period of the letter of credit. When opening an uncovered (guaranteed) letter of credit, the issuing bank grants the executing bank the right to write off funds from its correspondent account within the amount of the letter of credit. The procedure for writing off funds from the correspondent account of the issuing bank under a guaranteed letter of credit is determined by agreement between the banks.
A revocable is a letter of credit that can be changed or canceled by the issuing bank on the basis of a written order of the payer without prior agreement with the recipient of funds and without any obligations of the issuing bank to the recipient of funds after the withdrawal of the letter of credit. Irrevocable is a letter of credit that can be canceled only with the consent of the recipient of funds. At the request of the issuing bank, the nominated bank may confirm an irrevocable letter of credit (confirmed letter of credit). An irrevocable letter of credit confirmed by the nominated bank cannot be changed or canceled without the consent of the nominated bank. The procedure for providing confirmation on an irrevocable confirmed letter of credit is determined by agreement between the banks.
The letter of credit is intended for settlements with one recipient of funds.
The terms of the letter of credit may provide for the acceptance of a person authorized by the payer.
The recipient of funds may refuse to use the letter of credit before its expiration, if the possibility of such refusal is provided for by the terms of the letter of credit.
The share of the letter of credit in the calculations is much more modest compared to bank transfer and collection. However, it is the letter of credit, in particular, that most fully ensures the timely receipt of funds from the buyer, that is, it meets the interests of the supplier to the maximum when it comes to obligations arising from the supply contract. The considered form of payment is indispensable, first of all, in the case when the buyer and seller make a one-time transaction and have limited information about the financial condition, solvency and good faith of the counterparty in the transaction. This is a form of payment, which is a bank's promise to pay the supplier of the goods (seller) at the expense of the buyer a certain amount in the agreed currency, if the seller submits the documents specified in the letter of credit within the prescribed period. Through the bank, which acts here as an intermediary between the seller and the buyer, after a series of transactions, payment is made: against the presentation of the relevant documents, the seller receives from the bank the amount stipulated in the letter of credit. Thanks to a letter of credit, the seller does not depend on the solvency of the buyer and his willingness to pay, and immediately after the shipment of the goods, he can receive money for him. Naturally, it is in the interests of the supplier (seller) that the letter of credit be covered and irrevocable. As part of the letter of credit form of payment for each of the parties, there are guarantees for the fulfillment of the obligation - the seller is sure that the amount due to him for the delivery of the goods has already been received by the executing bank; the buyer pays for the delivered goods only after the goods are actually delivered to his address.
A check is a security containing an unconditional order of the drawer of the check to the bank to pay the amount specified in it to the holder of the check. The issuer of a check is a legal entity that has funds in the bank, which it has the right to dispose of by issuing checks, the holder of a check is the legal entity in whose favor the check is issued, the payer is the bank in which the funds of the drawer are located.
The procedure and conditions for the use of checks in the payment turnover are regulated by part two of the Civil Code of the Russian Federation, and in the part not regulated by it, by other laws and banking rules established in accordance with them.
The check is paid by the payer at the expense of the drawer's funds.
The drawer is not entitled to withdraw the check before the expiration of the established period for presenting it for payment.
Presenting a check to the bank servicing the holder of the check to receive payment is considered to be presenting the check for payment.
The payer of the check is obliged to verify by all means available to him the authenticity of the check. The procedure for imposing losses incurred as a result of payment by the payer of a false, stolen or lost check is regulated by law.
Settlements for collection
Collection settlements are a banking operation through which the bank (hereinafter referred to as the issuing bank), on behalf of and at the expense of the client, on the basis of settlement documents, performs actions to receive payment from the payer. For collection settlements, the issuing bank has the right to involve another bank (hereinafter referred to as the executing bank).
Settlements for collection are carried out on the basis of payment requests, the payment of which can be made at the order of the payer (with acceptance) or without his order (without acceptance), and collection orders, the payment of which is made without the order of the payer (in an indisputable manner).
Payment claims and collection orders are submitted by the recipient of funds (collector) to the payer's account through the bank servicing the recipient of funds (collector).
Settlements by payment claims
A payment request is a settlement document containing a requirement of the creditor (recipient of funds) under the main agreement to the debtor (payer) to pay a certain amount of money through the bank.
Payment requests are applied in settlements for goods supplied, work performed, services rendered, as well as in other cases provided for by the main contract.
Settlements by means of payment requests can be carried out with or without the prior acceptance of the payer.
Without the payer's acceptance, settlements by payment claims are carried out in the following cases:
1) established by the legislation;
2) stipulated by the parties under the main agreement, provided that the bank servicing the payer is granted the right to debit funds from the payer's account without his order.
Settlements using payment requests are also a fairly common form of non-cash payments in business. The defining feature of this form of non-cash payments is that the initiative in making the payment comes from the recipient of the payment, and not from the party obliged to make a cash settlement for already shipped (discharged) goods (works, services). To apply this form of payment, the parties to a transaction on the acquisition of goods (works, services) must provide for the possibility of its use in the contract.
The procedure for using settlements by payment requests includes the following steps: 1) the supplier (seller) of goods (works, services) after their shipment (vacation) draws up in the prescribed manner a document called a payment request and submits it to the servicing bank for collection - a special banking operation . The payment request may be accompanied by commodity-transport or other documents confirming the shipment (release) of goods (performance of work, provision of services), or they are sent directly to the payer, indicating the date of dispatch in the payment order; 2) the bank serving the recipient accepts a payment request for collection, that is, to perform an operation to receive from the payer the funds due to the recipient and credit them to the account of the latter. The collection is carried out by sending the payment request and the documents attached to it by the bank serving the recipient to the bank serving the payer; 3) the payer's bank, on the basis of the documents received and in the absence of a justified refusal of the payer to make the payment (the so-called refusal to accept the demand), transfers funds from the payer's account to the address of the recipient.
The use of payment requests as a form of non-cash payments in business activities allows you to organize an efficient and effective system of payments for shipped goods, work performed and services rendered. Their use is especially important for business entities with a large consumer network of wholesale supplies.
Settlements by collection orders
A collection order is a settlement document, on the basis of which funds are debited from the payers' accounts in an indisputable manner.
Collection orders apply:
1) in cases where an indisputable procedure for collecting funds is established by law, including for the collection of funds by bodies performing control functions;
2) for recovery under executive documents;
3) in cases stipulated by the parties under the main agreement, provided that the bank serving the payer is granted the right to debit funds from the payer's account without his order.
As you can see, the legislator connects the possibility of actually using the mechanism for direct or undisputed debiting of funds from the payer's account, if such a mechanism is laid down in the main contract, with the obligatory existence of one more condition - the provision by the payer to the servicing bank (i.e., the bank in which the corresponding settlement account is opened) payer's account) the right to carry out direct or undisputed debiting of funds from the account. Such a right, as a rule, is exercised in practice by concluding an additional agreement to the bank account agreement opened to the payer. The payer is obliged to provide the servicing bank with information about the creditor (recipient of funds) who has the right to issue payment requests for debiting funds without acceptance, or a collection order, the name of the goods, works or services for which payments will be made, as well as about the main contract (date, number and corresponding clause providing for the right of direct debiting).
The absence of a condition on direct debiting of funds or on indisputable debiting in a bank account agreement or an additional agreement to a bank account agreement, as well as the absence of information about the creditor (recipient of funds) and other above information is the basis for the bank to refuse to pay the payment request without acceptance or collection instructions.
Considering the issues of non-cash payments, it should be mentioned that from July 1, 2003, the Regulation of the Bank of Russia N 222-P of April 1, 2003 "On the procedure for making non-cash payments by individuals in the Russian Federation" (hereinafter - the Regulation) came into force. This document was issued in development of the Regulations on non-cash payments and regulates the features of their commission in cases where the payer is an individual. Now citizens have the opportunity to use almost any form of cashless payments. However, we are talking about payments that are not related to the implementation of entrepreneurial activities by citizens. An individual has the right to open current accounts in Russian banks and make payments using all the provided types of non-cash payments. To open an account, you must submit an identity document, a bank card with a sample signature. Within the framework of the provision under consideration, a citizen has the opportunity to independently draw up settlement documents in accordance with established forms or entrust this to the bank in which a current account is opened. It is possible to dispose of funds on a current account by a representative of an individual by proxy. We dare to suggest that the newly introduced procedure for opening current accounts for citizens-non-entrepreneurs will not be in demand in the near future in large numbers, since there is and is successfully used for a long time a well-established mechanism for the use by individuals of the “On Demand” account (deposit) mode, which allows for non-cash transactions, not related to business activities.
When analyzing the forms of non-cash payments used in banking practice, one cannot fail to mention payments using plastic cards.
The introduction of bank cards as one of the main means of non-cash payments is the most important task of the "technological revolution" of banking. This means of payment, having many undoubted advantages, provides both cardholders and credit institutions involved in their issue and maintenance with a lot of advantages. For cardholders, this is convenience, reliability, practicality, time saving, no need to carry large amounts of cash. For credit institutions - increasing competitiveness and prestige, the availability of payment guarantees, reducing the costs of manufacturing, accounting and processing paper money, minimal time costs and savings in human labor. This is only an incomplete list of the qualities of plastic money that led to their recognition in the world market. The international "plastic" business rests on "three pillars" - VISA International, EuroCard / MasterCard and American Express - the largest international organizations that have united a huge number of credit organizations under their roofs different countries. Since 1990, when the largest international company VISA International began to accept Russian banks into its ranks, the opportunity to evaluate all the advantages of payment cards has also appeared in Russia. The Regulation "On the Procedure for Issuing Bank Cards by Credit Institutions and Making Settlements for Operations Made with Their Use", approved by the Central Bank of the Russian Federation of April 9, 1998 N 23-P, regulates operations related to the circulation of bank cards in the territory of the Russian Federation. Successful experience in making payments with their use made it possible to verify the convenience and practicality of plastic money.

Ministry of Education and Science of Russia

federal state budgetary educational institution

higher vocational education

"St. Petersburg State Technological Institute

(Technical University)"

UGS 080000 Economics and Management

Field of study 080200.62, Management

Profile Marketing

Faculty of Economics and Management

Department of Management and Marketing

Academic discipline Finance

St. Petersburg

Introduction. 3

1.Legal basis calculations. 3

1.1 The concept and legal regulation of cashless payments. 3

1.2 Principles of cashless payments. 7

2. System of cashless payments 8

2.1 Settlements by payment orders. eight

2.2 Settlement of letters of credit.. 9

2.3 Payments by checks. eleven

2.4 Settlements for collection. 12

2.5 Settlement by payment claims. 12

2.6 Settlements by collection orders. 13

3 Problems of practice and prospects for the development of cashless payments. fourteen

3.1 Problems of cashless payments and possible solutions. fourteen

3.2 Prospects for the settlement system. 16

Conclusion. eighteen

References.. 20

Introduction

The most important condition functioning of the economy is the reliability of the payment system. The payment system ensures the dynamics and stability of economic turnover through the transfer of funds from one economic agent to another.

Efficient system non-cash payments allows you to speed up payments as much as possible, especially between payers geographically separated over long distances, increase the security of settlements, lead to the replacement of cash and reduce distribution costs, i.e. to reduce the cost of printing cash, their transportation, counting and storage.

The payment system is a complex of organizations and institutions, a set of tools and procedures necessary for cash settlements arising in the process of production and sale of goods and services.

A stable and fast system of payments and settlements is a necessary prerequisite for the effective functioning of the entire national economic mechanism, all its sectors, economic institutions and individual economic entities

In accordance with the legislation, the Bank of Russia provides a clear management of the payment system, setting the main goal of the need to ensure its efficiency, stability, reliability and security. The Bank of Russia is not only a participant in the payment system, it also coordinates, regulates and licenses settlement and clearing systems, and establishes the rules for making cashless payments.

Under market economic conditions, settlements through a bank should be determined by economic feasibility, combined with the economic independence of market entities and their financial responsibility for their actions.

Legal basis for settlements

The concept and legal regulation of cashless payments

The legal nature of cash has a dual character. On the one hand, money is considered in the literature as a (bodily thing), as a movable, replaceable and consumed thing.

On the other hand, money appears in civil law transactions simply as this or that number of units of value.

Non-cash payments are usually understood as the procedure for fulfilling monetary obligations through professional financial intermediaries, which are most often banks, other non-bank credit organizations, communication organizations, etc.

It cannot be said that non-cash payments are payments made in the absence of cash. The latter may be present both at the initial and at the final stage of non-cash payments, if this is not prohibited by law.

Under non-cash payments, it is necessary to understand any operations of banks to receive or transfer money, which are carried out by them on behalf of the clientele by making entries in the relevant accounts. As a result of multiple non-cash payments, entries in the bank accounts of the clientele acquired some monetary functions and became known as non-cash (credit) money.

The question of the legal nature of non-cash money is controversial. Until about the middle of the 20th century. jurists studied mainly cash. With regard to non-cash money, which began to be widely used in civil circulation, it was concluded that they are the rights of the client's claim to the bank.

In the legal literature, even such points of view appeared that completely denied the objective nature of non-cash money: "The concept of "non-cash money" is an invention of economists."

However, in the mid 90s. 20th century in contrast to the dominant point of view on the legal nature of non-cash money, its antipode appeared - the real-law theory of non-cash money and non-documentary securities.

Its essence lies in the fact that non-cash money and book-entry securities have a mixed property-obligatory legal regime. By their original nature, they are claims on the bank. However, due to legal fiction, the legislator extends to non-cash money and non-documentary securities certain methods of legal regulation of real legal relations.

Settlements by offsetting counterclaims are carried out without the participation of money, both cash and non-cash. In practice, they can be drawn up using the construction of Art. 410 of the Civil Code (offset of mutual claims), and through bilateral or multilateral clearing. From a legal point of view, clearing is a complex legal phenomenon, at a certain stage of which an obligation is novated in the form of a delegation.

Cashless payments are regulated by Ch. 46 of the Civil Code, which determined the main forms of non-cash payments, as well as a number of regulatory acts of the Bank of Russia. The most famous of them are: Regulation of the Central Bank of the Russian Federation of October 3, 2002 N 2-P "On non-cash payments in the Russian Federation", Regulation of the Central Bank of the Russian Federation of March 26, 2003 N 221-P "On the procedure for acceptance and execution by credit institutions, divisions Settlement Network of the Bank of Russia of Executive Documents Presented by Collectors - Individuals", Regulation of the Central Bank of the Russian Federation of April 1, 2003 "On the procedure for making cashless payments by individuals in the Russian Federation".

During settlement transactions between credit institutions and their clients, special legal relations arise, which are called settlement relations in the literature. They acquire a certain independence from the main contract between the payer and the recipient of funds, according to which settlements are made, due to the discrepancy between the subject composition of these legal relations.

Settlement transactions can be carried out by banks both in pursuance of a bank account agreement, and in its absence, unless otherwise provided by law.

Settlement legal relations arise on the basis of settlement transactions made by clients and their banks, the set of standard rules for the conclusion and execution of which (settlement mechanism) is traditionally referred to in the literature as forms of non-cash settlements.

Forms of settlements differ in the type of settlement document, the procedure for document circulation, as well as the presence or absence of conditions for providing money at the disposal of the payee. In Art. 862 of the Civil Code lists the following forms of non-cash payments: settlements by payment orders, collection, letter of credit, check.

The concept of the form of non-cash payments is not synonymous with a settlement transaction. Considering that during non-cash payments, money passes through several accounts, all forms of settlements must inevitably consist of several settlement transactions.

Each such settlement transaction, as a rule, is aimed at the execution of the corresponding bank account agreement. In some cases, settlement transactions can be made in the absence of a bank account agreement (clause 2, article 863 of the Civil Code). It is proposed to understand a settlement transaction as any civil law transaction carried out by participants in the system of non-cash payments (banks and their clients) within a certain form of non-cash payments and aimed at moving (transferring) non-cash assets from one client account to another account belonging both to him, as well as to a third party.

Thus, Chapter 46 of the Civil Code regulates only non-cash payments in cash. It should be borne in mind that non-cash payments are possible using any type of property values ​​(assets), for example, non-documentary securities, non-cash gold, etc. The nature of such non-cash payments (as well as the settlement mechanism) is the same. However, in the Russian Federation, other types of non-cash payments are regulated by special legislation.

Settlement transactions can be both bilateral and unilateral. So, when paying by payment orders, bilateral settlement transactions are: an agreement between the payer and the bank serving him on a credit transfer of funds and an agreement between the payer's bank and an intermediary bank on a credit transfer of funds.

Bilateral settlement transactions (contracts) are consensual and causal.

The parties to any settlement transaction are customers who settle their obligations and banks servicing them. However, with regard to each form of settlement, the parties to settlement transactions may bear special names according to their role in settlement transactions.

The current legislation establishes strict requirements for the form of settlement documents, which, however, differ depending on whether they are drawn up on paper or electronic media.

Forms of settlement documents on paper are approved by Regulation N 2-P. Features of the application of the forms established by it for individuals are determined by the Regulation of the Central Bank of the Russian Federation of April 1, 2003 N 222-P "On the procedure for making cashless payments by individuals in the Russian Federation" and the Regulation of the Central Bank of the Russian Federation of March 26, 2003 N 221-P "O the procedure for acceptance and execution by credit institutions, subdivisions of the settlement network of the Bank of Russia of executive documents presented by recoverers - individuals.

Unlike legal entities, individuals have the right to either independently fill out the forms of settlement documents established by the Bank of Russia, or entrust the execution of forms on their behalf to a servicing bank on the basis of an application-instruction.

Features of the form of settlement transactions made in electronic form are established by a number of special rules of the Bank of Russia.

Depending on the method used to transfer information about payments (electronic or "paper"), as well as the forms of payment, customers must fill in the forms of the relevant settlement documents. The specified procedure for processing settlement transactions is a feature of Russian legislation.

For the implementation of settlement transactions, the legislation establishes the terms of two types: the terms of operations on the account and the terms of non-cash payments.

For the initiator of the payment, most often it does not matter in what terms each transaction included in one form or another of non-cash payments will be completed separately. Usually he is interested in the speedy completion of the entire settlement operation as a whole.

That is why the legislation regulates the general period of non-cash payments, which is understood as the period of time from the beginning of the first transaction to the end of the execution of the last transaction included in the corresponding form of non-cash payments. It is this general term for non-cash payments that is established by Art. 80 of the Law on the Bank of Russia. It cannot exceed two business days - within the subject of the Federation, five business days - within the Russian Federation.

Most settlement transactions are paid. The bank account agreement, in pursuance of which they are carried out, as a rule, contains a condition on the payment by the client to the bank of remuneration for performing operations on the account (Article 851 of the Civil Code).