SPFS (Russian: Система передачи финансовых сообщений, lit. 'System for Transfer of Financial Messages') is a Russian equivalent of the SWIFT financial transfer system, developed by the Central Bank of Russia. The system has been in development since 2014, after the United States government threatened to disconnect Russia from the SWIFT system. The first transaction on the SPFS network involving a non-bank enterprise was executed in December 2017. As of March 2018, over 400 institutions (mostly banks) are part of the network.