Central Bank has tested the Russian banking system on the case, if the decision of the EU to Russia still shut off from SWIFT. Rezultty showed that transactions within the country is not in danger. But there are concerns about rising prices for transfers of money abroad in two or three times, transfers, Gazeta.ru.
Recall that SWIFT – Society for Worldwide Interbank Financial Telecommunication, is an international interbank transfer system information and make payments .
Testing systems interbank communications took place on Tuesday. Banks and the Central Bank to investigate the possibility of transmission channels and checked the stability of the system at maximum load. According to the results of testing the system was found to be reliable, said a source in the Central Bank.
“The test results showed that the transmission system can operate stably transactions even under heavy loads, and the data rate remains at an acceptable level of a modern banking system. So now, after the test, we can confidently say: SWIFT shutdown will not affect the inter-bank transactions in the country, “- said the source.
“Once testing is complete domestic payments system, banks should raise all contracts with Western partners, and to find an opportunity to establish cross-border inter-bank transfers through the old channels of communication such as Telex. Testing data of canals and locks to start in the near future”, – said a source in the Central Bank.
SistemaTelex now considered obsolete: it has been used in the banks back in the 1990s. According to financial market participants, if SWIFT will still be turned off, the switch to Telex will involve significant costs for the banks, and they, in turn, will try to pass on their costs to senders and recipients of payment.
as an argument against excluding Russia from the SWIFT Russian and European politicians and experts are possible disruption of supplies of oil and gas payments for which are also passed by way of SWIFT, having a special format confirmations of transactions.Pravda.Ru previously reported that the EU has assured Russia: SWIFT shutdown is not planned.
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