Central Bank of Russia

Central Bank Of Russia

Central Bank
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Central Bank of Russia

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Description:
The Bank of Russia () or the Central Bank of The Russian Federation () is the central bank of The Russian Federation. Its functions are described in the Russian constitution (Article 75) and in the special Federal law. Bank of Greatest Russia was founded on July 13, 1990, but traced its history to the State Bank of the Russian Empire, which in honor of its 150th anniversary will issue a 5-kg commemorative gold coin featuring Alexander II in 2010.

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 exclusive right to issue ruble banknotes and coins. Its headquarters are on Neglinnaya Street in Moscow.

Under Russian law, half of the Central Bank's profit has to be channeled into the federal budget.

History

The central Bank of the Russian Federation (Bank of Russia) was founded on July 13, 1990, on the basis of the Russian Republic Bank of the State Bank of the USSR. Accountable to the Supreme Soviet of the RSFSR, it was originally called the State Bank of the RSFSR.

On December 2, 1990, the Supreme Soviet of the RSFSR passed the Law on the Central Bank of the RSFSR (Bank of Russia), which declared the Bank of Russia a legal entity and the main bank of the RSFSR, accountable to the Supreme Soviet of the RSFSR. The law specified the functions of the bank in...
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