Legal Regulation of International Inter-Bank Payments Systems

Today, the world has come to a time when most of our everyday activities take place in an electronic format. With the increasing globalization of economic and political processes, the role and importance of payment systems significantly increases. The emergence of new types of payment instruments and forms, the development of payment systems, the formation of new mechanisms for the functioning of the payment infrastructure, which have recently taken place, have a significant impact on all spheres of our life, as well as on the sphere of economic security of the State, so that the topic of legal regulation of this sphere of society is relevant in the modern world. The relevance of the topic lies in the fact that in science very often the topic of interbank settlements and payment systems is considered exclusively from the financial and economic side of the issue, leaving the norms of international law in this area far behind. The law is subject to change largely due to the fact that the spheres of public life of people are improving and developing. And international settlement relations are also changing and adapting to the needs of the modern world. The purpose of this study is to analyze the legal component of international payments and the systems through which they are carried out to study the features of the legal registration of the activities of international payment systems in the United States, the European Union and Russia. The main part of the work consists of three chapters. The first chapter examines the concept and fundamentals of the mechanism of legal regulation of international interbank settlements and international payment systems. The second chapter presents an analysis of the features of the regulatory and legal regulation of international interbank settlement systems in the European Union and the United States. The third chapter provides the legal basis for the activities of Russian banks in the implementation of international interbank settlements.