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About Bank of Russia

The mission of the Bank of Russia is to ensure financial and pricing stability and to contribute to the development of a competitive financial market.

The Bank of Russia has special legal status established by Article 75 of the Constitution of the Russian Federation. It grants the Bank of Russia the exclusive right to issue currency and to protect the ruble and ensure its stability, which is the main function of the Bank of Russia. The Bank of Russia conducts its activities independently from other federal bodies of state power, regional authorities and local governments. The status, goals, functions and powers of the Bank of Russia are defined by Federal Law No. 86-FZ, dated 10 July 2002, ‘On the Central Bank of the Russian Federation (Bank of Russia)’ and by other federal laws.

In 2013, the Bank of Russia was vested with the powers to regulate, exercise control of and supervise the financial markets. As a mega-regulator, the Bank of Russia creates conditions for the development of all sectors of the financial market and for the stability of the financial system as a whole. This objective determines its approaches to the supervision and regulation of credit institutions, insurance companies, pension funds, microfinance organisations and other financial market participants. More information on the legal status and functions of the Bank of Russia

Further details on the Bank of Russia’s status and functions

Bank of Russia Board of Directors

The Bank of Russia Board of Directors is the collective executive body of the Bank of Russia, comprised of the Governor of the Bank of Russia and 14 Board members working in the Bank of Russia on a full-time basis. Members of the Board of Directors are appointed by the State Duma for a term of five years at the proposal of the Governor of the Bank of Russia, with the agreement of the President of the Russian Federation.

The Bank of Russia Board of Directors: more details

Important

About Bank of Russia
About Bank of Russia
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Last updated on: 30/03/2020