National digital infrastructure of financial market: results of Bank of Russia’s paper discussion
Overall, market participants supported the criteria proposed by the regulator, which determine when the components of the national digital financial infrastructure should be created by the government and when by businesses. These are the results of the discussion of the paper National Digital Infrastructure of the Financial Market.
Some participants pointed to the need to elaborate the parameters and terms of this infrastructure, as well as the next steps to develop it further. The market reiterated its demand for a transparent and equally accessible infrastructure.
During the consultations, particular attention was given to promising areas, such as services based on the Faster Payments System, the digital ruble, and Open APIs.
Further deliberations in this regard, including about the initiatives proposed by the regulator, government authorities, and businesses, will take place at the level of the Advisory Board for Financial Market Digitalisation under Bank of Russia Governor.