Approved by Board of the Central bank of the Republic of Uzbekistan of April 25, 1998 No. 399

Regulations on conducting calculations between banks of the Republic of Uzbekistan for electronic payment system

1. General provisions

1.1. This Provision is developed according to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan N146 of March 18, 1994 "About measures for enhancement of bank system and stabilization of the monetary relations", the Laws of the Republic of Uzbekistan "About the Central bank of the Republic of Uzbekistan", "About banks and banking activity", and regulates procedure for carrying out interbank calculations in all territory of the Republic of Uzbekistan for electronic payment system.

For increase in reliability and safety of functioning of payment system the Centers of calculations in all Territorial Head departments of the Central bank of the Republic of Uzbekistan with the automatic mode of acceptance, control and information transfer are organized.

1.2. The electronic payment system provides passing of payments in the territory of the Republic of Uzbekistan within 15-20 minutes, and in one territory - within 3-5 minutes, has high handling capacity. Its flexibility and expandability allow to create in the future system of large and small payments, and also system of the organization of calculations with use of plastic cards.

1.3. In this Provision the following basic concepts are used:

1.3.1. The Electronic Payment System (EPS) is the nation-wide payment service provider perfroming interbank calculations, founded on paperless technology and transfer of electronic information by means of e-mail of the Central bank of the Republic of Uzbekistan. The scheme of passing of electronic payments is given in the Appendix N1.

1.3.2. The Center of Calculations (CC) is department of management of financial accounting, the reporting and calculations of the Territorial Head Department (THD) of the Central Bank of the Republic of Uzbekistan as which servicing of correspondent accounts of commercial banks and uninterrupted ensuring calculations between banks enters.

The name and code of the existing TsR:

 Вставьте сюда форматированный текст (таблицу) 
 
        Наименование       код    код
                           обл.    ЦР

     1. Ташкентский ЦР        26/27   00001
     2. Каракалпакский ЦР     35      00002
     3. Андижанский ЦР        03      00003
     4. Бухарский ЦР          06      00004
     5. Джизакский ЦР         08      00005
     6. Кашкадарьинский ЦР    10      00006
     7. Навоийский ЦР         12      00007
     8. Наманганский ЦР       14      00008
     9. Самаркандский ЦР      18      00009
     10. Сурхандарьинский ЦР  22      00010
     11. Сырдарьинский ЦР     24      00011
     12. Ферганский ЦР        30      00012
     13. Хорезмский ЦР        33      00013

1.3.3. The correspondent account of bank (corresponding account) is account which opens to commercial bank in the Center of calculations of Territorial Head departments of the Central bank of the Republic of Uzbekistan and is intended for carrying out interbank calculations.

The correspondent account has the following structure:

1-5 sign - the five-digit balance sheet account:

21302 For payment on corresponding account in other banks - On the alert

21304 For payment on corresponding account in payment processing center - On the alert

6-8 sign - currency code;

9 sign - control key;

10-12 - three zero;

13-17 - five-digit bank code;

18-20 - sequence number of the account.

For example: Kibraysky department of Mevasabzavotbank (the code 00410) opens in the Tashkent TsR correspondent account for N21302000K00000410001 (main), 11001000K00000410001 (overdraft).

1.3.4. The Electronic Payment Document (EPD) is document which is created based on source settlement and cash documents in the form established by the Central bank of the Republic of Uzbekistan, marked "Electronically" is its exact copy and is valid the original.

1.3.5. The bank initiator is the bank which began payment transaction.

1.3.6. The bank beneficiary is the bank which finished payment transaction.

1.4. SEP performs the following functions:

- acceleration of carrying out clearing settlements between banks of the Republic of Uzbekistan;

- protection of the transferred electronic payment documents against unauthorized access;

- effective use of temporarily free resources of banks;

- management of degree of credit risk and liquidity risk;

- compliance with laws and the rules regulating payment transactions;

- accomplishment of control and supervising functions of the Central bank behind observance of the current legislation and banking regulations by commercial banks;

- creation of the database.

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