The regulator plans to update the rules for the Bulk Clearing System (BCS), which is responsible for processing regular non-cash settlements and small retail payments. The new norms will clearly define the grounds for the suspension or exclusion of participants from the system.
Grounds for temporary disconnection
According to the draft, a financial organization's participation in the BCS may be temporarily suspended. In this case, the processing of payment documents and bank messages will be stopped, but the existing agreement for participation in the system will remain in effect. At the same time, the operator is obliged to notify the organization of the reasons and terms of the restrictions no later than the day the decision is made.
- violation of payment system operating rules
- non-compliance with National Bank regulatory requirements
- failure to perform or improper performance of obligations under agreements
- provision of inaccurate or untimely information upon the operator's request
Full exclusion from the system
In addition to temporary restrictions, the document provides for the possibility of complete termination of participation in the BCS. This may occur if a financial organization ceases to meet the established requirements.
