Central Bank of the Russian Federation
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Bank of Russia (Russian:Банк России) or The Central Bank of the Russian Federation (Russian: Центральный банк Российской Федерации) is a Central bank of Russia. Its functions are described in Russian constitution (Article 75) and in the special Federal law.
According to constitution Bank of Russia is an independent entity, which primary responsibility is to protect stability of national currency - ruble. It also holds exclusive right to issue ruble banknotes and coins.
Regulator
Bank of Russia is a regulator of the banking industry. It is responsible for issuing banking licences and setting rules of banking operations and accounting standards. The bank serves as a lender of last resort for credit organisations.
Monetary policy
It is responsible for the country's monetary policy, including the level of the shortest interbank interest rate. Through the influence over the ruble interest rate it also influence the price of the ruble in terms of foreign currencies.
External link
- Official website (http://www.cbr.ru/eng/)
- Federal law "On the Central Bank of the Russian Federation (Bank of Russia)" (http://www.cbr.ru/eng/today/status_functions/print.asp?file=law_e.htm)