Traffic of Russian SWIFT counterpart rises in 2022 — Bank of Russia
In 2014, the Bank of Russia launched the Financial Messaging System (SPFS) in test mode.
The traffic of Russia’s SWIFT counterpart, the Financial Messaging System of the Bank of Russia (SPFS) grew by around a quarter in 2022, and may continue to grow, according to Governor of the Bank of Russia Elvira Nabiullina.
"Our Financial Messaging System, our SWIFT counterpart, serves banks throughout the country without interruptions. The system has been fully operational for several years, but this year, when several banks were disconnected from SWIFT, the System’s traffic rose by around a quarter, and can continue to grow. We have no problems with that," she said.
In 2014, the Bank of Russia launched the Financial Messaging System (SPFS) in test mode. The system can transmit data in the SWIFT format, but does not depend on its channels. In 2017, the system started working in full, transmitting messages about transactions in any currency.
Source
The traffic of Russia’s SWIFT counterpart, the Financial Messaging System of the Bank of Russia (SPFS) grew by around a quarter in 2022, and may continue to grow, according to Governor of the Bank of Russia Elvira Nabiullina.
"Our Financial Messaging System, our SWIFT counterpart, serves banks throughout the country without interruptions. The system has been fully operational for several years, but this year, when several banks were disconnected from SWIFT, the System’s traffic rose by around a quarter, and can continue to grow. We have no problems with that," she said.
In 2014, the Bank of Russia launched the Financial Messaging System (SPFS) in test mode. The system can transmit data in the SWIFT format, but does not depend on its channels. In 2017, the system started working in full, transmitting messages about transactions in any currency.
Source