National Bank of Belarus approves criteria of importance of payment systems: what will change
Systemically, potentially and socially significant. The National Bank of Belarus is introducing new rules for assessing the payment market for the year to strengthen citizens’ trust and reduce risks to zero.
The National Bank has determined the procedure for classifying payment systems by types of significance. It also approved a list of criteria for classification. About it in the rubric "Closer to the case" on the TV channel ONT told Natalia Tarasyuk.
Why is this important for Belarusians? This will help ensure even more reliable and safe operation of the payment market, increase its stability and reduce the impact of any risks or disruptions.
Meaningful and “other” – this is how payment systems are divided by law. And “significant” are of three types – systemically, potentially and socially significant. Basically, it all depends on how violations affect the payment market. And in the case of “socially significant”, it is already about the attitude of people. Failures can undermine their trust. The importance of payment systems will be assessed at the end of the calendar year. Data on the status of the National Bank will be posted on its website.
Photo: BELTA
