The velocity of money in the wholesale payment system has fallen by more than half

The speed of money movement in the real-time gross settlement system (RTGS) in the third quarter of the year fell by more than half—53.4%. This was reported by the National Bank of the Republic.

The RTGS is a system through which banks make large and urgent payments. If the speed of turnover falls, it means that money is being transferred less frequently and more slowly than before.

Thus, the speed of turnover fell by 53.4% — more than twice. The total volume of transfers amounted to 13.18 trillion KGS. This is 8.8% less than in the previous period.

At the same time, banks had more free money, and the liquidity ratio doubled.

The regulator notes that there are no serious risks:

• the system operated without failures — availability was 100%;
• minor delays (2.29% of operating time) were due to the extension of the system's working day at the request of participants;
• all such situations are regulated by the rules and tariffs of the National Bank.

Overall, the situation in the real-time gross settlement system remained stable, with financial risks at a minimum.