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RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF BELARUS

of September 20, 2022 No. 354

About approval of Rules of system of instant payments

Based on paragraphs of the thirty second, sixty fifth and sixty seventh of Article 26 and part one of article 39 of the Bank code of the Republic of Belarus the Board of National Bank of the Republic of Belarus DECIDES:

1. Approve Rules of system of instant payments (are applied).

2. Determine that banks provide participation in system of instant payments:

for carrying out since December 19, 2022 intra country instant payments of clients – legal entities without use of service of information support of instant payments;

for carrying out since April 1, 2023 intra country instant payments of clients – physical persons for benefit of physical persons at the initiative of the payer with use of service of information support of instant payments.

3. Declare invalid Item 1 of the resolution of Board of National Bank of the Republic of Belarus of November 20, 2018 No. 540 "About some questions of functioning of system of instant payments and carrying out instant payments".

4. This resolution becomes effective after its official publication, except for the paragraph of the third Item 10, of part two of Item 26 of Rules of system of the instant payments approved by this resolution which become effective since January 1, 2023.

Chairman of the board

P.V.Kallaur

 

Approved by the Resolution of Board of National Bank of the Republic of Belarus of September 20, 2022 No. 354

Rules of system of instant payments

Chapter 1. General provisions

1. These rules determine procedure:

the organizations and functioning of system of instant payments (further – SMP);

implementation of intra country and cross-border instant payments.

2. These rules are obligatory for accomplishment by the banks, the non-bank credit and financial organizations created and registered according to the legislation of the Republic of Belarus, "Development Bank of the Republic of Belarus" open joint stock company (further – banks of the Republic of Belarus), the National Bank, foreign banks, intermediary bank which are participating in the BISS system, executed the technical actions provided by documentation of the automated system of interbank calculations of National Bank (further – AS of MBR), and "Belarusian Interbank Settlement Center" open joint stock company (further – the technical operator).

3. For the purposes of these rules the terms below are used in the following values:

3.1. SMP participating banks – the banks of the Republic of Belarus, National Bank, foreign banks, intermediary bank which are participating in the BISS system, executed the technical actions provided by documentation of AS of MBR for receipt of access to the functions provided to SMP and the service provision agreements which signed with the technical operator on technical supply of money transfer in SMP;

3.2. bank sender, paying bank (further – bank sender) – bank of the Republic of Belarus, the foreign bank which created based on payment specifying (payment instruction) of the payer the MH-message on intra country (cross-border) instant payment. The bank sender can be the payer;

3.3. bank receiver, bank beneficiary (further – bank receiver) – bank of the Republic of Belarus, the foreign bank which received the MH-message on intra country (cross-border) instant payment of bank sender, intermediary bank for transfer of money on the current (settlement) bank account (further – the account) the receiver of payment (beneficiary) (further – the beneficiary). The bank receiver can be the beneficiary;

3.4. intermediary bank – the foreign bank providing interaction of SMP and foreign system of instant (bystry) payments by means of use of the program and technical infrastructure according to the rules established by National Bank regarding carrying out payments in the territory of the Republic of Belarus and the rules established by foreign national (central) bank regarding carrying out payments in the territory of foreign state;

3.5. irrevocability of instant payment – the characteristic of intra country (cross-border) instant payment designating absence or the termination of possibility of withdrawal of payment at a given time;

3.6. intra country information service – the technology of the automated information exchange realized by means of SMP between banks of the Republic of Belarus – members of SMP information on bank details of the beneficiary, and also other information necessary for the parties participating in the forthcoming money transfer;

3.7. intra country instant payment – the payment made based on payment specifying (payment instruction) of the payer through bank sender, the technical operator and bank receiver in time mode which is brought closer to real;

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