What is the Central Bank of Russia (CBRF)? Central Bank of Russia (CBRF) Review, Features

Central Bank of Russia (CBRF) Regulating leveraged foreign exchange trading, investors can submit complaints directly on the central bank's Russian website.

About the Central Bank of Russia (CBRF)

Organization type: Government agency

Introduction: According to Article 75 of the Constitution of the Russian Federation, the Bank of Russia enjoys a special legal status. Under the constitutional framework, the Bank of Russia has the unique right to issue currency and is obliged to protect the ruble and its stability, which is the main function of the Bank of Russia. The status, purpose, functions and powers of the Bank of Russia are also reflected in Federal Law No. 86-FZ of July 10, 2002 "The Central Bank of the Russian Federation (Bank of Russia)" and other federal laws. The law stipulates that the functions of the bank include organizing currency circulation, currency management, foreign brokerage business and its supervision, as well as joint ventures and banking cooperation business.

Regulatory functions

(1) To work with the federal government to articulate and implement the nation’s single monetary policy;

(2) To cooperate with the federal government in promoting the development of the Russian financial markets and ensuring their stability;

(3) supervise the national payment system;

(4) Supervision of credit institutions and banking groups;

(5) Supervision of joint ventures and securities to ensure compliance with regulations;

(6) Monitor whether foreign exchange complies with relevant foreign exchange laws and regulations;

(7) Protect the legitimate rights and interests of shareholders, financial market investors, insurance companies and policyholders.

Regulatory objectives

Pursuant to Article 3 of the Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)”, the objectives of the Bank of Russia are:

(1) Protect the ruble and ensure its stability;

(2) promote and strengthen the Russian banking system;

(3) Ensure the stability and development of the national payment system;

(4) Promote the stability and prosperity of the financial markets of the Russian Federation.