States across the country have joined the Russian financial messaging system, SPFS, with participants now spanning 15 regional markets. This update was shared by Olga Skorobogatova, the First Deputy Chairman of the Central Bank of the Russian Federation, during a conference commemorating a decade of the mega-regulator and its evolving role yesterday, today, and into the future.
Skorobogatova explained that back in 2014 the central bank identified the need for a domestic financial messaging framework. Since then, the system has grown steadily, attracting 514 participants and drawing interest from others who want to maintain correspondent relationships, including non-residents. In total, 131 non-residents from 15 countries are currently engaged with SPFS, underscoring its international reach and relevance.
The deputy chair noted notable growth in traffic on the SPFS network, describing it as massive and processing volumes without delays or disruptions. This performance underlines the system’s reliability and its capacity to handle increasing transaction flows in real time.
In parallel, remarks by the Prime Minister of the Russian Federation highlighted a broader strategic aim: to advance the Eurasian Economic Union toward a shared payments landscape anchored in national currencies. This approach is expected to bolster the security of settlements and contribute to greater economic stability among member countries, aligning with Russia’s long-term financial and monetary policy objectives.
Earlier discussions referenced an unscheduled central bank meeting that resulted in a significant adjustment to the key rate, reflecting the monetary authority’s readiness to respond to evolving economic conditions and to ensure liquidity and confidence in financial markets. This context sets the stage for ongoing reforms and the broader pursuit of resilient, currency-diverse payment ecosystems across the region.