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Q and A

System name Clearing
Year of introduction year 1998 (SRP), 2010 (ICS-2)
Law of property on the system Republican state enterprise “Kazakhstan Interbank Settlement Center of the National Bank of Kazakhstan”
Network provider Republican state enterprise “Kazakhstan Interbank Settlement Center of the National Bank of Kazakhstan”
Working hours of the system
– Reception deadline of current day payments
– For third party
– Participants’ transactions
– Time period of net position settlement
Twenty-four hours a day
Till 3 p.m.
From 3 p.m. till 4 p.m.
Membership criteria in the system Free access for banks and non-banking organizations, which are entitled for carrying out the bank operations and obligatory availability of the account in ISMT
Message flow structure МТ100, МТ102, МТ998, МТ970, МТ971, МТ974, МТ973, МТ195, МТ192, МТ196, MT905
Processing of payment documents
– Assignment of priorities for specific transactions’ types
The processing of documents is under priorities, inside of one priority by FIFO principle
Organization of a queue is formed by Sender of the payment document
Factors of message flows regulation
– Tariffs are differentiated by time during the day
– A definite percentage of transactions should pass during specific time according to the system rules
– Other
Tariffs are differentiated by time during the day
Limit for one payment is 5 billion tenge
During what period of time does the system allow to accept the payment documents? Twenty-four hours a day
Revocation of payment document Yes
Return of non settled payment documents: When does return take place? After closing of current operating day During shortage of funds for settlement
When does an issue of final report take place? At 4:20 p.m.
Settlement guarantee Availability of sufficient funds on ISMT account at the moment of Clearing closing
Agreement on losses sharing No
Each participant ensures his own net debit position
– simultaneous distribution of public funds
– other
Participant insures funds sufficiency in ISMT for covering his net debit position independently
Liquidity regulation
– During the day
– “Overnight”
– Available for system participants
– Available for external private source
– other
Participants regulate their liquidity independently
Does the system have a possibility to finish settlement in case of non-fulfilled debit obligation?
– By one of the system’s participant
– By several system participants


Whether the system has an opportunity for settlement of transaction in parts in case of when other opportunities of maintenance of liquidity have been settled? No
Legal base of Clearing Normative and legal document, regulating the order of carrying out of calculations in clearing are here.
Clearing is bases
– on a double basis between the system and participants
– on a double basis between participants
– – on a multilateral basis between participants
On a multilateral basis between participants
Does the Clearing connect with other systems?
– gross settlements on the real time basis
– securities
– other
With gross settlements on the real time basis
Does the National Bank participate in Clearing?
– as the participant
– as the main reserve agency
– other
As the participant
Does the Clearing have a reflection in the National Bank’s ledger? No, the clearing settlement is took place in ISMT
What kind of services does the National Bank render for Clearing?
– additional system management
– system control
– other
Does the system accept payments with value date? Yes (T+3 days)