| Customers: Central Bank of Russian Federation
Project date: 2017/10
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The Central bank of the Russian Federation suggests to create the national recording system of financial transactions (NRSFT) in which all transactions of citizens will be reflected in financial market. It on Friday, October 6, 2017, the first deputy chairman of the Bank of Russia Sergey Shvetsov at the forum Finopolis-2017 in Sochi said.
 | We suggest to create a national recording system of financial transactions. It is an important element which, certainly, should be complemented with the system of remote identification, public services and services of the Federal Tax Service — he reported. |  |
According to Shvetsov, NSRFT will interact with payment systems, and the main task within this initiative is that all transactions of the population are reflected in financial market in one repository.[1]
He explained that unlike present repositories which consider off-exchange transactions of a repo and transaction with derivatives in a uniform repository there will be a record about acquisition of some service by the consumer. This record will be legally sufficient for upholding of the interests by the consumer and partner in court, at the ombudsman and at the appeal to the Central Bank.
In this system each transaction will be fixed that will help to advocate the interests to consumers and their partners — in court, at the ombudsman and at complaints in the Central Bank, the first deputy chairman of the Central Bank told.
He also reported that for implementation of such system in life it is necessary to make certain legislative decisions — for example, to adjust work of bots consultants and to enter a concept of supermarket into the legislation.
| | At the first stage it will be implemented as a recording system of deposits because we have a question of off-balance deposits. How to wrap today a contribution to the smart contract, quite it is clear, for this purpose it is necessary to make the corresponding legal basis — Shchvetsov told. | |
Notes
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