The system of interbank electronic payments in Ukraine. How does this work

Interbank electronic payment system (BOT) i> Ukraine - is the main system of payments between banks and institutions of the State Treasury in Ukraine. It is through it happens bulk of payments between individuals and legal entities in the country. BOT is a closed RTGS-system in which money circulates in a closed fiscal space and are under the control of the emission Naionalnogo bank. So - how it works ...

It would seem, at what here Luzhkov Yushchenko? It Yushchenko was behind the formation of the Ukrainian banking system during his tenure as chairman of the National Bank (NBU) i> in 1993-1999. At this time, we developed and implemented a lot of intra-tools, systems, and to develop a broad regulatory framework. Then developed and launched the BOT.

As of 01.01.2014 SES participants were 423 institutions, including:
180 - banks (on 01.01.2014, in Ukraine there were 183 bank) i> 178 - bank branches 28 - Bodies of the State Treasury Service 37 - establishment of the National Bank 2013:
347 was performed, 6 million payment $ 12, $ 7 trillion. UAH. (1, 5 trillion. dollars) i> per day in 2013
1, 4 million. Payment $ 50, 5 billion UAH. (6 billion. Dollars) i> the balance of the SEP accounts of participants: 27, 8 billion. UAH. (3, 5 billion. dollars) i>

How conducts calculations Bank h4>

Each bank has a correspondent account that is opened with the NBU. This is a common consolidated account. Subordinate institutions (branches, departments) i> do not have korr.schetov. Exceptions are the so-called "Balance sheet" subsidiaries, which have their own code of MFIs and represent almost a full pot in miniature. However, most of the banks in the last 10 years leads to a policy of centralization and reduce the number of subordinate institutions balance. Korr.schet made on the bank's own funds, which are used as operating funds for interbank payments. This ensures that the bank can be used for the calculations only those funds that he has.

Participants EPAs work for the most part by the so-called "Third model" service consolidated correspondent account for which the bank has korr.schet and intra interbranch payment system that facilitates money transfers between bank branches and interaction with the EPA to implement the inter-bank money transfer bank branches (all models seven) < / i>.

Payments to the SES are irrevocable. Complete a transaction may not withdraw any initiator or anyone else. The initiator of the transaction serves only bank account holder. Priority transaction processing - in a queue. Other priorities does not exist.

In practice, h4>

When you pay the money on hand for the services / goods company from out of town - it - your money is coming at the expense of intra-fund. Further accountant confirms the payment and the amount transferred to the domestic korr.schet this bank. BOT operator in the bank - confirms the sending of payment and payment is released to the clearing house of the territorial management of the NBU, which is subject to the bank. Next - the payment goes to the National Bank of Ukraine in Kiev central clearinghouse - after - in terr.upravlenie NBU in the region payee's bank - then - the beneficiary's bank, and finally credited to the recipient of your funds. From the moment you send payment from bank A and until it is credited to the payee's bank B - takes an average of 1-4 hours (I do not consider the time to process your payment cashier and accountant, which could take up to a day depending on the bank ) i>. The whole process is automated payment enough, but there is also a considerable role of manual control.

The scheme is simplified if the payer and the recipient are in the same area, or at all - within one bank (if EPA is not used if these units are off-balance Bank) i>.

Important note - SEP works in real time. Thus - every day from 8:00 to 18:00 goes processing payments. All payments must be sent to be processed and delivered to recipients. Should not be "hung" payments. So - if you say « I sent payment i>», and you have never got on that day - that means the source is lying, or (very rarely) i> to blame the bank and sent him payment for their problems. But the latter is extremely rare, because facing quite serious sanctions by the NBU.

There are backup transit accounts to display operations that were initiated but not completed that day. This gives the opportunity to work in exceptional cases in asynchronous mode.

If the bank there are some technical problems (for example, fails intrabank payment system - which in itself is a major zalet) i> and the bank does not have time to meet the closing time BOT, the bank wrote in a request with the NBU request to extend the life of the BOT for 1-2 hours. And then all of Ukraine sits and waits for these deer until they solve their problems. If they do not keep within the allotted time - it is a great sorrow, but a separate issue - it is the next time will tell. On weekends, the BOT does not work.

Technology h4>

BOT was introduced a long time ago (1996) i> - at the dawn of the computer boom - and demands her to iron very democratic. In practice - payments are sent as file (batch mode) i>. In a file with a specific structure (a so-called. "Pack») i> contains 1-1000 payments. After receiving the file - the recipient of this report and processes the file. Each recipient (SEP participant) i> has its alphabetic encoding (4 characters lat.alfavita / numbers) i>. In a special way called and numbered files. Payments are prepared in the domestic banking system (ODB - Operational day of the bank) i>. It ODB should ensure the correct formation of the settlement documents, and service messages.
Thus - can successfully be part of EPAs, with only a 486-computer network on board.

Globally same:

At the highest level - a central clearinghouse NBU running software and hardware "ARM-1." It is designed to control the operation of a clearing house at the national level. Verifies the correct operation, synchronization BOT, speed control, protection against unauthorized access and detection of such attempts. On the second level - a regional clearing houses NBU - works complex "AWS-2". This exchange of information for the region's banks, exchange settlement documents with "ARM-2" in other regions, synchronization BOT for participants within the region, control over payments, protection against unauthorized access. At the third level - the banks - a complex "ARM-3." Exchange of information and transfer payments "ARM-2", the interaction with the internal payment system of the bank. Sharing through a set of software and hardware under the name « E-mail NBU i>» . Being available to all banking institutions in Ukraine, as well as a number of government and commercial organizations.

Security h4>
Itself banking system of Ukraine enough thought and from a technological point of view is very secure. Touch on two points of safety - technical and organizational.

First - a hardware cryptography. Each participant receives a BOT equipment for encryption and key cryptography terr.upravlenii NBU (closed symmetric keys) i>. Also uses hardware encryption technology in the communication channels. Talk about them, I will not - except to say that they are, and they are quite serious, though compact. Periodically (though rarely) i> NBU amends protection technology.

The second aspect - it is said korr.schet. All customer accounts "as a whole" form a purse bank. With him perform calculations, it receives payments. Explanatory specialist of monetary («denezhnik») i> the bank does not allow for korr.schete was a lot of money - free cash resources in the NBU sold to other banks or for a specified period to close the gap on their korr.schete or vice versa - the resources are bought on the interbank market to close their holes. It is beneficial - bought on the interbank market resources under 3% and outstanding loans at 18%, you can feel good. On the contrary - when you have a lot of money on korr.schete - it does not mean that the bank is rich - it says that "denezhnik" stupid and does not earn income on available resources. But, back to safety. Practice shows that the majority of crimes are committed by all bank employees of the bank - and usually very intelligent staff IT-departments, which in this case are the boots in accounting and banking, in particular - so the "burn" at the elementary ignorance. No, there is of course, the only ones to successfully combine these areas, but we will not tell you about them.

So - the attacker, who decided that he was a connoisseur of banks support physical adjustments to the base interbank payment system. To get to the base of the NBU - hands are short, so - maximum - it's inside the bank. Take controlled by the enterprise and in the "remainder" add a zero at the side. As a result, instead of 100 thousand. We have to balance became 1 million. Now - content - make payments to bring the money to the side and are willing to give dёru to greet the dawn on the beautiful island. Only these Krivorukov do not understand that because of their changes - at korr.schete bank money is not added. And their payment depends on the output, or "yellow balance" in the NBU - money requires more than theirs is now available and have all put on the ears and will not be removed from the ears until established the cause of this event. In general - all that can be "nahimichit" will be revealed maximum - the next morning, as will be closed / open business day within the bank and will be revealed on the discrepancy here this particular account, as you can not just change the residue. When closing the day balances are reconciled in the last days, turns per day, the total balances of accounts and groups, etc. etc. In general - need to be very expert to crank the scam similar complexity. There are much simpler methods fraud, non-technical component.

Internal kitchen h4>
Restrictions on the amount of the transaction does not exist. Technologically, the transaction amount is limited to the remainder korr.schete bank - the initiator of the transaction.

The calculations are in real time and thus have the opportunity to SES participants receive information for liquidity planning.

Overdraft on korr.schetu impossible. This additional protection against systemic crisis in the banks.

EPA is the property of the National Bank of Ukraine. For each operation in the BOT Bank pays the commission NBU. The total amount depends on the number of transactions for the month and the time when the payments were made - up to 16:00, from 16 to 18 (Bastard rate) i> and after 18:00 (double) i >. The cost is very low, because the purpose of the NBU did not get to come and receive economic benefits from the work of the BOT throughout the country.

For each of the currencies party SES opens a separate korr.schet (and only one for such currency) i>. Differences in technology virtually no payments at all, except that korr.scheta opened to commercial banks only in one place - in the center of interstate calculations NBU and thus there is no inter-regional calculations. Conversion is not available. The calculations are carried out in different currencies separately.

EPA is not isolated. It has gateways and connected with the payment systems of ex-USSR and SWIFT

You may experience a situation « red balance i>», when bypassing the standard tools EPAs on the bank imposed any penalties, and not enough money to korr.schete. Then all outgoing payments will not be possible until the receipt of payments and closing of the negative balance. This situation is more theoretical - I personally have not heard of this.

Conclusion h4>
In conclusion, we note that including due to the fact that Ukraine - lives in the same time zone - managed to build a very robust and flexible banking system that daily opens / closes the business day and brings balance, which gives a high process reliability.

Separate issue - when everything goes awry - fail links, financial server (and as usual no backups) i>, programmers consciously / unconsciously lay down banking system and then begins a fascinating period called "the banking system in emergencies. " But that's another story.



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