The legal regulation of the national payment system by the bank of Russia

Introduction: the author examines the legal status of the Bank of Russia under the Federal law of 27.06.2011 № 161-FZ “On National Payment System”, namely, the requirements of the Bank of Russia for operators conducting money transfers, including the electronic transfers, for banking payment agents, and sub-agents, carrying out transfers of funds by order of the payer or recipient issued under non-cash payments. Purpose: to study the regulation of the national payment system by the Bank of Russia, taking into account the Federal Laws “On National Payment System”, “On the Central Bank of the Russian Federation”. Methods: the methods of scientific knowledge and system approach, allowing to manage risks in the payment system and to carry out forecasting activity are investigated. The historical component. Results: the powers granted to the Bank of Russia in accordance with the regulations allow the Bank of Russia to carry out certain activities and procedures aimed at providing the functional support and reducing the risks when conducting money transfers by operators of the payment system. Conclusions: the legal regulation of the payment system by the Bank of Russia allows ensuring the monitoring and prompt adoption of measures for the systemically and socially important payment systems, to develop the financial market, and to conduct without problems the payments of money with smaller risks, both for operators of the payment system, and for physical persons.