About Bank of Russia

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