The Legal Department is one of the units in the structure of the Bank of Russia’s head office that has existed since the establishment of the Bank of Russia. The Legal Department was created as a separate structural unit back in 1992.
The key task of the Legal Department is to provide legal support for the Bank of Russia’s activity aimed at the fulfilment of its goals and functions stipulated by federal laws, as well as legal support for the functioning of the Bank of Russia as a legal entity.
The Legal Department coordinates law drafting and the elaboration of other regulations in the Bank of Russia, and ensures the follow-up of this work at federal authorities.
One of the main areas of the Legal Department’s work is the legal support for:
- Banking supervision and banking regulation.
- Supervision and regulation of non-bank financial institutions’ operations.
- The activity of the Bank of Russia’s structural units, including the Bank of Russia’s regional branches, as regards the methodological support for administrative violation proceedings.
- The Bank of Russia’s operations and banking. As part of the legal support for the functioning of the Bank of Russia as a legal entity, the Legal Department ensures compliance with the labour legislation in the Bank of Russia’s activity and performs the contracting work. The Legal Department is in charge of the general coordination of the legal work at the Bank of Russia. The Department also provides methodological guidance to the Legal Service, and the functional management of its units and specialists.
- The Legal Department plays a vital role in the work of the Bank of Russia’s Legal Service, which is a single complex of units and specialists responsible for the legal work in the Bank of Russia’s system. In addition to the Legal Department, the Bank of Russia’s Legal Service also comprises the legal units (divisions, sections, and sectors) of the Bank of Russia’s regional branches.
- The Legal Department coordinates the claim-related work at the Bank of Russia, represents the Bank of Russia’s interests in the course of court proceedings and in enforcement agencies, and ensures the Bank of Russia’s communication with government authorities and law enforcement bodies.