Payment services of the Bank of Russia and the intraday liquidity management of credit institutions

Subject. This article discusses the payment services of the Bank of Russia and the tools for managing intraday liquidity available to the participants of these services. Objectives. The article aims to analyze and classify the payment services of the Bank of Russia based on their architecture, the order of operation, and the available tools for managing intraday liquidity, as well as identify the positive and negative impacts of the introduction of the digital ruble on the liquidity of credit institutions. Methods. For the study, we used systems, comparative, logical, and structural analyses, as well as the method of abstraction. Results. The article presents a classification of payment services of the Bank of Russia based on the volumes and scales of operations carried out, the architecture and the functioning order, and it describes the factors that may influence the use of the digital ruble by consumers, as well as the impact of its distribution on the liquidity of credit organizations. Conclusions and Relevance. The widespread adoption of the digital ruble will lead to a liquidity outflow from credit organizations under the current platform architecture, which may negatively impact the smooth operation of the payment system of the Bank of Russia. It is necessary to develop an appropriate mechanism to eliminate the negative impact.