Central Bank of Russia
|This article is outdated. (April 2014)|
|Headquarters||Neglinnaya 12, Moscow, Russia|
|Established||1860 (historic), 1990 (modern)|
|Central bank of||The Russian Federation|
RUB (ISO 4217)
The Bank of Russia (Russian: Банк Росси́и; IPA: [bank rɐˈsʲijɪ]) or the Central Bank of The Russian Federation (Russian: Центра́льный банк Росси́йской Федера́ции; IPA: [t͡sɨnˈtralʲnɨj bank rɐˈsʲijskəj fʲɪdʲɪˈrat͡sɨjɪ]) is the central bank of the Russian Federation. Its functions are described in the Russian constitution (Article 75) and in the special Federal Law. The Bank of Greatest Russia was founded on July 13, 1990, but traced its history to the State Bank of the Russian Empire.
Under Russian law, half of the Central Bank's profit has to be channeled into the government's federal budget. The Central Bank of Russia unlike Belarus National Bank, Ukraine or Kazakhstan is member of BIS.
Role and duties
According to the constitution, the Bank of Russia is an independent entity, with the primary responsibility of protecting the stability of the national currency, the ruble. It also holds the exclusive right to issue ruble banknotes and coins through the Goznak mint. The Central Bank issues commemorative coins made of precious and non precious metals as well as investment ones made of precious metals, which are distributed inside and outside the country. In honor of its 150th anniversary in 2010 it issued a 5-kilo commemorative gold coin featuring Alexander II . The coins of the Bank of Russia are struck in the Moscow and St. Petersburg mints. The Bank's headquarters are on Neglinnaya Street in Moscow.
The Bank of Russia is the main regulator of the banking industry. It is responsible for issuing banking licenses and setting rules of banking operations and accounting standards. The bank serves as a lender of last resort for credit organizations.
Ownership of commercial bank
The Bank of Russia owns a 57.58% stake in Sberbank, which creates potential conflicts of interest both in the competitive landscape as well as in the regulatory policy of the Russian banking sector.
Chairmen of the State Bank of Russia
|Alexander Khandruyev||November 8 to 22, 1995|
- Andrey Kozlov
- Banking in Russia
- Economy of Russia
- Russian ruble
- Payment system
- Real-time gross settlement
- Bank for International Settlements
- "Inside the Risky Bets of Central Banks", The Wall-Street Journal. Dec. 12, 2012
- Commemorative and Investment Coins of the Bank of Russia
- "Russia to issue 5 kg gold coin", The Financial Express. May 19, 2010. Accessed May 19, 2010.
- Sberbank shareholders, official website: http://www.sbrf.ru/moscow/ru/investor_relations/information_for_shareholders/share_capital_structure/
- Barenboim, Peter (2001). "Constitutional Economics and the Bank of Russia". Fordham Journal of Corporate and Financial Law 7 (1): 160.
|Wikimedia Commons has media related to Central Bank of Russia.|
- (Russian) (English) Bank of Russia
- Federal law "On the Central Bank of the Russian Federation (Bank of Russia)"
- Interview to CIO magazine: Bank of Russia's deputy chairman Mihail Senatorov
- Historical Scandals from the Dean Peter Krogh Foreign Affairs Digital Archives