Encyclopedia
Calculation Center
A clearing center is an organization established in accordance with the legislation of the Russian Federation, unless otherwise provided for by this Federal Law, and ensuring within the payment system the execution of instructions from participants of the payment system through debiting and crediting funds to the bank accounts of participants of the payment system, as well as sending confirmations relating to the execution of instructions from participants of the payment system1.
Federal Law No. 161-FZ dated June 27, 2011 "On the National Payment System", as amended on November 28, 2018, Article 3, subpara. 11 // RSFSR Gazette. 2011. No. 27. P. 3872. ↩