Central Bank of Russia

Central Bank of Russia
Банк России
Bank Rossii

Central Bank of Russia logo

Headquarters

Neglinnaya Street 12, Moscow, Russia

Established

1860 (historic), 1990 (modern)

Chairman

Elvira Nabiullina

Currency

Russian ruble
RUB (ISO 4217)

Reserves

$360.2 B, As of 28 February 2015

Bank rate

12.5%

Website

Official website

The Bank of Russia (Russian: Банк Росси́и; IPA: [bank rɐˈsʲijɪ]) is the central bank of the Russian Federation, founded in 1990, headquarterd on Neglinnaya Street in Moscow. Its functions are described in the Russian constitution (Article 75) and in the special Federal Law.

Under Russian law, half of the bank's profit must be channeled into the government's federal budget. The Central Bank of Russia is a member of the BIS.^[1]

Role and duties

The Bank of Russia was founded on July 13th, 1990. According to the constitution,it is an independent entity, with the primary responsibility of protecting the stability of the national currency, the ruble.

It is the main regulator of the Russian banking industry, responsible for banking licenses, rules of banking operations and accounting standards, serving as a lender of last resort for credit organizations.

It holds the exclusive right to issue ruble banknotes and coins through the Moscow and St. Petersburg mints, 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.^[2] In 2010 in honor of its 150th anniversary it issued a 5-kilo commemorative gold coin Alexander II .^[3]

Ownership of commercial bank

The Bank of Russia owns a 57.58% stake in Sberbank,^[4] which creates potential conflicts of interest both in the competitive landscape as well as in the regulatory policy of the Russian banking sector.

Chairmen

Name	Year
Georgy Matyukhin	1990—1992
Viktor Gerashchenko	1992—1994
Tatiana Paramonova	1994—1995
Alexander Khandruyev	November 8 to 22, 1995
Sergei Dubinin	1995—1998
Viktor Gerashchenko	1998—2002
Sergei Ignatyev	2002—2013
Elvira Nabiullina	2013–present

Politics

In December 2014, amidst falling global oil prices, Western sanctions over the Ukraine crisis, capital flight, and fears of recession, the bank had increased the one-week minimum auction repo rate up by 6.5 points to 17 percent. This caused a run on the rouble, and on January 29, the bank decreased the rate by two points to 15 percent.

In January 2015, the head of monetary policy, Ksenia Yudayeva, a proponent of strict anti-inflation policy, was replaced by Dmitry Tulin, who is "seen as more acceptable to bankers, who have called for lower interest rates".^[5]

References

↑ "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/
↑ Jason Bush, Lidia Kelly and Alexander Winning (30 January 2015). "Russian central bank makes surprise interest rate cut". Reuters. Retrieved 31 January 2015.

External links

Wikimedia Commons has media related to Central Bank of Russia.

Economy of Russia

History	Soviet Union Privatization Financial crises 1998 2014–present Monetary reforms in Russia (1991 1993 1998) National Priority Projects Stabilization Fund Great Recession in Russia Medvedev modernisation programme

Natural resources	Timber Mining Aluminium Oil reserves Energy Nuclear power Geothermal power Renewable energy Agriculture Fishery Hunting

Industry	Engineering (Aircraft Automotive Tractor, timber and agricultural machinery Defence Shipbuilding Space industry Rolling stock manufacturers) Metallurgy (Pipe Industry) Petroleum industry Chemical industry Science and technology Food industry

Infrastructure	Telecommunications Transport Rail Vehicle registration plates

Services	Grocery retailing Tourism Gambling Real estate

Finance	Russian ruble Account Chamber Banking (Banks Central Bank of Russia) Federal budget Moscow Exchange National Pension Fund Social Insurance Fund Tax Code Billionaires

Regional economies	Natural resources of Primorsky Krai Federal subjects by GRP Federal subjects by GDP per capita Federal subjects by HDI Federal subjects by unemployment rate

Economic regions	Central Ural North Caucasus Volga West Siberian East Siberian Volga-Vyatka Northwestern Central Black Earth Far Eastern Northern

Other	Companies Trade unions Russian oligarch

Category Commons

Russia topics

History

Timeline	Proto-Indo-Europeans Scythians East Slavs Rus' Khaganate Kievan Rus' Novgorod Republic Vladimir-Suzdal Grand Duchy of Moscow Tsardom of Russia Russian Empire Russian Republic Russian SFSR Soviet Union Russian Federation

By topic	Economy Military Postal

Geography

Politics

Economy

Society

Demographics Russian citizens Abortion Alcoholism Crime Education Healthcare Ethnic groups Languages Illegal immigration Prostitution Racism Religion Suicide Water supply and sanitation

Culture	Architecture Art Literature Ballet Cinema Graffiti Inventions Media Music Public holidays Opera Language Cuisine Martial arts Folklore Television Internet National anthem Coat of arms National flag Sports

Outline

Book
Category
Portal
WikiProject

Central banks

Global

Global	Bank for International Settlements Basel Committee on Banking Supervision Financial Stability Board

By continent

Africa	Bank of Central African States Central Bank of West African States Bank of Algeria Central Bank of Angola Bank of Botswana Bank of the Republic of Burundi Bank of Cape Verde Central Bank of the Comoros Central Bank of the Congo Central Bank of Djibouti Central Bank of Egypt Bank of Eritrea National Bank of Ethiopia Central Bank of The Gambia Bank of Ghana Central Bank of the Republic of Guinea Central Bank of Kenya Central Bank of Lesotho Central Bank of Liberia Central Bank of Libya Bank Al-Maghrib Reserve Bank of Malawi Bank of Mauritius Bank of Mozambique Bank of Namibia Central Bank of Nigeria Bank of Somaliland South African Reserve Bank Bank of South Sudan Bank of Sudan Central Bank of Swaziland Bank of Tanzania Central Bank of Tunisia Bank of Uganda Bank of Zambia Reserve Bank of Zimbabwe

Americas	Central Bank of Argentina Central Bank of Aruba Central Bank of The Bahamas Central Bank of Barbados Bermuda Monetary Authority Central Bank of Brazil Bank of Canada Central Bank of Chile Bank of the Republic (Colombia) Central Bank of Cuba Central Bank of Curaçao and Sint Maarten Eastern Caribbean Central Bank Cayman Islands Monetary Authority Central Bank of Ecuador Bank of the Republic of Haiti Central Bank of Honduras Bank of Jamaica Bank of Mexico Central Bank of Nicaragua Central Reserve Bank of Peru Central Bank of Suriname Central Bank of Trinidad and Tobago Federal Reserve System (United States) Central Bank of Uruguay Central Bank of Venezuela

Asia	Da Afghanistan Bank Central Bank of Bahrain Bangladesh Bank Royal Monetary Authority of Bhutan Brunei Currency and Monetary Board Autoriti Monetari Brunei Darussalam National Bank of Cambodia People's Bank of China Hong Kong Monetary Authority Reserve Bank of India Bank Indonesia Central Bank of the Islamic Republic of Iran Central Bank of Iraq Bank of Israel Bank of Japan Central Bank of Jordan National Bank of Kazakhstan National Bank of the Kyrgyz Republic Bank of Korea Central Bank of the Democratic People's Republic of Korea Central Bank of Kuwait Banque du Liban Monetary Authority of Macao Bank Negara Malaysia Maldives Monetary Authority Bank of Mongolia Central Bank of Myanmar Nepal Rastra Bank Central Bank of Oman State Bank of Pakistan Palestine Monetary Authority Bangko Sentral ng Pilipinas Qatar Central Bank Saudi Arabian Monetary Agency Monetary Authority of Singapore Central Bank of Sri Lanka Central Bank of Syria Central Bank of the Republic of China (Taiwan) Bank of Thailand Central Bank of Turkmenistan Central Bank of the United Arab Emirates Central Bank of Uzbekistan State Bank of Vietnam Central Bank of Yemen

Europe	European Central Bank (Eurosystem) National Bank of the Republic of Abkhazia Bank of Albania Central Bank of Armenia National Bank of Austria Central Bank of Azerbaijan National Bank of the Republic of Belarus National Bank of Belgium Central Bank of Bosnia and Herzegovina Bulgarian National Bank Croatian National Bank Central Bank of Cyprus Czech National Bank Danmarks Nationalbank Deutsche Bundesbank Bank of England Bank of Estonia Bank of Finland Banque de France National Bank of Georgia Bank of Greece Hungarian National Bank Central Bank of Iceland Central Bank of Ireland Banca d'Italia Central Bank of Kosovo National Bank of Latvia Bank of Lithuania Central Bank of Luxembourg National Bank of the Republic of Macedonia Central Bank of Malta National Bank of Moldova Central Bank of Montenegro De Nederlandsche Bank Norges Bank Central Bank of the Turkish Republic of Northern Cyprus National Bank of Poland Banco de Portugal National Bank of Romania Central Bank of Russia Banka Slovenije (Slovenia) National Bank of Serbia Bank of Spain Národná banka Slovenska (Slovakia) Sveriges Riksbank Swiss National Bank Central Bank of the Republic of Turkey National Bank of Ukraine

Oceania	Reserve Bank of Australia Reserve Bank of Fiji Reserve Bank of New Zealand Bank of Papua New Guinea Central Bank of Samoa Central Bank of Solomon Islands National Reserve Bank of Tonga

Policies and implementation

Policies	Capital requirement Contractionary monetary policy Expansionary monetary policy Basel II Basel III Basel 4

Implementation	Capital control Discount rate Interest rates Money creation Open market operation Sovereign wealth fund

Bretton Woods system

International Monetary Fund World Bank Group International Bank for Reconstruction and Development International Centre for Settlement of Investment Disputes International Development Association International Finance Corporation Multilateral Investment Guarantee Agency

Lists

List of central banks Central banks and currencies of Africa Central banks and currencies of the Caribbean Central banks and currencies of Central America and South America

Names in italics indicate non-sovereign (dependent) territories, former countries, or states with limited recognition

Coordinates: 55°45′47″N 37°37′17″E / 55.76306°N 37.62139°E / 55.76306; 37.62139

Central Bank of Russia

Role and duties

Ownership of commercial bank

Chairmen

Politics

See also

References

Further reading

External links