The Bank of Russia has joined the CPSS of the Bank for International Settlements
Since July, 2009, the Bank of Russia has joined the Committee on Payment and Settlement Systems (CPSS) of the Bank for International Settlements.
According to the Department of external and public relations of the Bank of Russia, the decision to broaden the CPSS is caused by growing interdependence of infrastructure elements of the financial market and their influence on financial stability.
The CPSS membership will enhance possibilities of the Bank of Russia to contribute in the financial stability, improving internal and global payment and settlement infrastructure and will promote maintaining standards and regulation practice according to market development and growth of interdependence among various infrastructures of the financial market.
The Committee on Payment and Settlement Systems develops standards for payment and securities settlement systems. The Committee also serves as a forum for active dialogue between central banks.