1 / 6

Rouble Settlement Forum 2007-2009: Analyzing Changes and Ongoing Challenges

This overview discusses the Rouble Settlement Forum from 2007 to 2009, led by Duncan Lord from Barclays Capital. Original members, including six banks, aimed to address key issues in the settlement of Russian Roubles. Challenges such as high settlement failures, liquidity issues, and the lack of STP were highlighted, alongside recommendations for a Real-Time Gross Settlement System. Although progress, such as the implementation of the BESP system, has been made, persistent issues remain regarding payment formatting and intraday limits. Feedback from other banks is encouraged to foster improvement.

lucky
Télécharger la présentation

Rouble Settlement Forum 2007-2009: Analyzing Changes and Ongoing Challenges

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Rouble Settlement Forum2007 – 2009Has Anything Changed ? Duncan Lord Director Barclays Capital

  2. Rouble Forum 2007 Original member of a group of 6 Banks brought together to discuss issues relating to settlement of the Russian Rouble in order to : • Share Common Issues • Discuss Strategies used to overcome issues • Suggest new requirements

  3. Issues Discussed • Current 5 shift payment system could result in high level of settlement failures and therefore losses and compensation claims. • Lack of Intraday Overdraft Limits thus causing liquidity issues. • Apparent lack of Straight Through Processing • Payment orders manually re entered at correspondent. • Payment re entered by correspondent into Cyrillics. • Specific information required unique to Russian Payment System. • No SWIFT message standards.

  4. Recommendations • Implementation of a Real Time Gross Settlement System to replace current 5 shift payment system is essential • In meantime correspondent Banks to ensure payments executed in shifts 1 and 2 but no later than shift 3 to ensure timely settlement. • More correspondent Banks to offer Intraday Overdraft Limits • Standardise message formatting so that all messages to correspondent Banks are in same SWIFT format

  5. 2009 What’s Changed ? • The BESP system (RTGS) implemented and live but does not have critical mass . • Still issues with payment formatting. • Intraday limits are available but only on a limited basis. So costs continue to be incurred through over funding of Rouble account or payment failures.

  6. DISCUSSION Would appreciate hearing view of other Banks !

More Related