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Everyone knows that the Central Bank is the “boss” of all commercial banks in the country. It regulates the comprehensive processes of their activities, issues licenses and makes decisions on the liquidation of a credit organization. In addition, the Central Bank is entrusted with the most important government function - the issue of Russian rubles.

Simply put, the Central Bank of Russia is an independent structural body that controls the entire economic and financial sphere of the country.

Who is the owner of the Central Bank of the Russian Federation? Is the Bank of Russia part of the state system or is it completely privately owned? Who is responsible for the work of the Central Bank? We will examine all these questions in the article.

Complete independence of the Central Bank of the Russian Federation as the main reason for the emergence of many questions among citizens

Central bank Russian Federation is a legal entity, acts in the public interest of maintaining economic stability and financial system, but does not depend either on political beliefs or on government authorities. The independence of the Bank of Russia’s actions is legitimized by the Legislation of the Russian Federation (in particular, the Federal Law No. 86-FZ “On the Central Bank of the Russian Federation (Bank of Russia)”, the Constitution of the Russian Federation and other regulations).

The Central Bank of the Russian Federation, as an independent entity, does not belong to the state. The state has no right to dispose of the property of the Central Bank without its consent. All powers to dispose and own the property of the Central Bank are exercised by the Bank itself. However, officially all property of the Central Bank of the Russian Federation belongs to the Russian Federation.

The Bank of Russia is independent in its actions, and in fact can be equated to a state authority. However, the Central Bank is not one. Moreover, he is not responsible for the obligations of either the state or credit institutions.

President of Russia, V.V. Putin comments on the independence of the Central Bank of the Russian Federation in this way: “Indeed, our Central Bank, in accordance with the law and with global practice, is an independent structure, which in its core activities is not controlled by the Government and acts exclusively independently.”

The Bank of Russia is not obliged to carry out orders of the President of the Russian Federation, the State Duma, the Ministry of Finance and other government bodies, but can only listen to them. In any case, the Bank of Russia makes strategic decisions independently.

Who controls the activities of the Central Bank of the Russian Federation?

The Central Bank of the Russian Federation is vested with great powers: this includes full regulation financial activities credit institutions (with all applicable sanctions: regulations, restrictions, revocation of licenses), issue of banknotes, control over the federal property of the gold and foreign exchange reserve. Such broad functions and powers are of a large-scale nature, so many are interested in the question, who controls the activities of the Central Bank itself?

Let's start with the fact that the Central Bank of the Russian Federation is not part of either the executive or legislative branches. The Bank of Russia also does not have judicial power. All three branches of government operate independently of the Central Bank, and it from them. That is, in accordance with Article 1 of the Federal Law “On the Central Bank of the Russian Federation”, the Bank of Russia carries out all functions assigned to it independently of other federal government bodies, government bodies of constituent entities of the Russian Federation and local governments.

Of course, like any division, even if independent, the Central Bank of the Russian Federation is accountable to other structures. Mainly to the Federal Assembly of the Russian Federation.

The Bank of Russia must annually send its annual report to the State Duma. Due no later than May 15th. This obligation is spelled out in Article No. 25 of Federal Law-86. The annual report includes the following information:

1. list of measures for the implementation of a unified state monetary policy;
2. analysis of money circulation and financial market of the Russian Federation;
3. analysis of the currency situation and the national payment system of the Russian Federation;
4. annual financial statements of the Central Bank;
5. auditor's report on the annual financial statements of the Central Bank;
6. information from the chief auditor of the Central Bank on the efficiency of using funds and other reports.

According to data published on the website Information Agency In Russia, at the end of January 2017, there were 53.5 thousand employees of the Central Bank. About a year after the publication of these data, Ruslan Vesterovsky, being the director of the department of personnel policy and personnel support, made a statement about immediate plans to reduce the number of employees to 20%. Vesterovsky explained this decision by the transition of some processes to automation. The reduction is planned to be carried out by the beginning of 2020.

In general, Central Bank employees are considered full-time employees. General system hiring, dismissal, and remuneration are determined by the Board of Directors. Article No. 89 of 86-FZ states that, among other things, the Board of Directors organizes life insurance for employees of the Central Bank of the Russian Federation, and also creates conditions for additional pension provision.

An interesting fact is that employees of the Central Bank of the Russian Federation are prohibited from obtaining consumer loans from any other bank other than their employer bank.

Hello, dear readers! Quite often it pops up in the information space various information about the Central Bank of the Russian Federation. Information of varying degrees of veracity, from speculation and gossip, to formalities and legal facts, can be found both in the yellow press, in small communities discussing world conspiracies, and in completely authoritative publications. One of the cornerstone questions, from the answer to which a lot of side theories and revelations arise, is the question “Who owns the Central Bank?” or “Who does the Central Bank report to?” Today we will try to give an answer to it, as well as analyze some of the opinions existing in society on this matter.

What is the Central Bank of the Russian Federation?

First of all, you should decide what this institution is, what functions and properties it has, whether it is unique or has analogues in the world. This approach seems to be the most correct, in the context comprehensive analysis existing opinions on the Internet and in society regarding the Central Bank.

As sources for our small research, we will take popular rumors from the Internet and compare them with legislation, as well as with information from official sources, including from the Bank itself.

We open Wikipedia and see that the Bank of Russia is:

a special public legal institution, a first-tier bank. The main emission and monetary regulator of the country, developing and implementing, in cooperation with the Government of the Russian Federation, a unified state monetary policy and endowed with special powers, in particular, the right to issue banknotes and regulate the activities of banks. The Bank of Russia, fulfilling the role of the main coordinating and regulating body of the entire credit system of the country, acts as an economic management body. The Bank of Russia controls the activities of credit institutions, issues and revokes their licenses to carry out banking operations, and credit institutions work with other legal and individuals, while the Bank of Russia is also a legal entity.

Goals and functions of the Central Bank

Art. Art. 3 and 4 of the Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)” contain the goals and functions of this institution.

Article 3. The goals of the Bank of Russia are:

• protecting and ensuring the stability of the ruble;
• development and strengthening of the banking system of the Russian Federation;
• ensuring stability and development of the national payment system;
• development of the financial market of the Russian Federation;
• ensuring stability of the financial market of the Russian Federation.

Making a profit is not the purpose of the Bank of Russia.

Pay attention to the last point. Many myths about the Central Bank are connected precisely with the fact that this organization, one way or another, has making a profit as one of its main tasks.

All functions specified in Art. 4 are aimed at achieving the set goals, so we will not focus on them.

Legal status

The legal status of the Bank of Russia is determined by three main sources:

• Article 75 of the Constitution of the Russian Federation
• Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)”
• Federal Law “On Banks and Banking Activities”

Part 2 of Article 75 of the Constitution reads:

Protecting and ensuring the stability of the ruble is the main function of the Central Bank of the Russian Federation, which it carries out independently of other government bodies.

This constitutional and legal status raises several questions. What does “independent of other government bodies” mean? And doesn’t “others” mean that the Central Bank is also a state body? authorities?
The Constitutional Court of the Russian Federation, in its ruling, noted that the functions of the Central Bank “by their nature relate to the functions of state power, since their implementation involves the use of state coercive measures.”
Then the list of questions only grows...

Article 1 of the Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)”

The Bank of Russia is a legal entity. The Bank of Russia has a seal with the image State emblem Russian Federation and with its own name.

Not only does the Bank operate independently, it is also a legal entity! So all the rumors are true? Does the Central Bank really act autonomously, depriving Russia of sovereignty in terms of financial security and the issue of the ruble?

The situation with the independence of central banks in foreign countries is quite common. For example, the Bank of England, originally a private bank, today has the status of an “Independent Public Organization”. Many countries independently limit their sovereignty in terms of issuing currency, transferring these functions to supranational bodies.

Returning to the Bank of Russia, it should be noted that its independence is still limited current legislation, as well as regulatory authorities. For example, Art. 23 Federal Law “On the Accounts Chamber of the Russian Federation”, authorizes the Accounts Chamber to conduct a financial audit of the Central Bank.

In addition, Art. 5 of the Law on the Bank of Russia establishes its accountability to the State Duma of the Russian Federation. It also gives the Duma and the President certain powers in relation to the Central Bank. For example, consider the main directions of the unified state monetary policy and make decisions on them, appoint and dismiss members of the Board of Directors of the Bank of Russia and others.

Is such independence of the Central Bank justified? - Hard to say. Most likely, it depends on the political regime and government system. It is democracy, as a political regime, that probably implies the existence of such independent public legal institutions. Against the background of the transition to capitalism and democracy, many of our compatriots, nostalgic for the USSR, refuse to accept changes in approaches at the everyday level, at a time when they have long come to terms with everything on the political and social level. We came to our senses too late.

In order for the country's banking system to work like a clock, there must be a body that regulates and organizes the work of all financial organizations. And there is such an organ - central bank RF. The head of the Central Bank of Russia is doing a great job of controlling financial issues in the country, and today we will tell you a little about this.

What is the Central Bank of the Russian Federation

The Central Bank of the Russian Federation is a special institution. This is the main first-level financial organization, a special public legal institution in Russia. The Central Bank of the Russian Federation is the main regulator of the country's monetary relations, pursuing appropriate state policies. As a result, the bank and the head of the Central Bank of Russia are vested with special powers, for example, they have the right to issue banknotes and can regulate the work of financial organizations.

The Central Bank, including the head of the Central Bank of the Russian Federation, is the economic manager of the country. He controls the work of other credit institutions, gives or takes away their licenses, and then the financial institutions themselves work with the population and legal entities. The Central Bank of the Russian Federation itself is also a legal entity.

The main function of the Central Bank is to protect and guarantee the stability of the national currency, and this is carried out regardless of other government bodies. The activities of the Central Bank of the Russian Federation are regulated by the law “On the Central Bank of the Russian Federation” and other federal laws. Having become the heir to the State Bank of the USSR, in 2002 the Bank of Russia became the Central Bank of the Russian Federation, and since then has been successfully fulfilling its functions.

Who's at the helm

The composition of the board of directors changed significantly at one time until it reached stable figures. The Central Bank personnel were especially “stormy” during the unstable nineties, during crises. Some leaders were only in office for a few days!

The leadership of the Central Bank of the Russian Federation today is more stable. According to the Federal Law regulating the activities of the financial colossus, it is headed by the Chairman of the Bank of Russia and almost a dozen members of the board of directors.

They work on a permanent basis at the Bank of Russia and are appointed for a five-year term. They are selected by the State Duma, and the list is also agreed upon with the President of the Russian Federation.

Head of the Central Bank Elvira Nabiullina

The current Chairman of the Central Bank of the Russian Federation is Elvira Nabiullina. She was appointed to this position in 2013. The board of directors includes:

• Olga Skorobogatova, First Deputy Chairman of the Bank of Russia;
• Dmitry Tulin, First Deputy Chairman of the BR;
• Sergey Shvetsov in a similar position;
• Ksenia Yudaeva in the same position;
• Vasily Pozdyshev, Deputy Chairman of the Bank of Russia;
• Olga Polyakova, also Deputy Chairman of the BR;
• Dmitry Skobelkin in a similar position;
• Vladimir Chistyukhin, Deputy Chairman of the BR;
• Alexey Simanovsky, Advisor to the Chairman of the Bank of Russia;
• Sergei Ignatiev, also advisor to the Chairman of the BR;
• Nadezhda Ivanova, head of the bank’s main department for the Central Federal District.

You see who is on the board of directors of the Central Bank of the Russian Federation. By the way, this is a permanent collegial body of the Central Bank. Members of the Council work in the Bank of Russia, and at least once a month they gather for a general meeting, which is held and chaired by the head of the Central Bank of the Russian Federation.

It would seem that there is a head of the main financial tycoon of Russia, and he can make decisions and lead economic policy. Why do we need a board of directors? In fact, its functions and tasks are regulated by the federal law common to the Central Bank and are very extensive:

1. Preparation of the draft and final budget and credit policy, as well as monitoring their implementation. This is being done jointly by the Russian Government.
2. Preparation and approval annual reports about BR activities, work with auditors and Accounts Chamber, preparation of papers for the National Banking Council and the State Duma.
3. Analysis of the state of the Russian economy.
4. Report on the activities of the Bank of Russia.
5. Preparation for approval by the National Banking Council of future expenses of the Central Bank - with calculations and justifications.
6. Work with interest rates, transaction limits, in a word, what ordinary citizens face when working with credit institutions. Including payments from those institutions that became bankrupt.
7. Making decisions on the release or withdrawal of new coins and banknotes from circulation.
8. Calculation of the authorized capital of the Bank of Russia for consideration by the State Duma.

The Board of Directors resolves many other issues within the framework of the Federal Law regulating its activities. They relate to both the work of the institution itself, its structure, remuneration of employees, and the general economic policy of the country. The Central Bank itself does not make decisions in isolation from the State Duma; it can only recommend certain proposals or decisions, and after that the government body accepts or rejects the proposals.

The Central Bank is a colossus that is not easy to manage

Interestingly, strict rules apply to those who serve on the board of directors. These people cannot be deputies of the State Duma or other government bodies, cannot hold positions in the civil service, or be members of the government or the Federation Council. They cannot be registered in parties, work in socio-political or religious organizations and work (part-time) in other financial institutions. Moreover, they are not even allowed to purchase securities if this conflicts the interests of the Central Bank and a member of the board of directors!

Head of the Central Bank

The Chairman of the Central Bank of Russia is an honorable and responsible position. Everyone probably knows who heads the country's most important financial center. The head of the Central Bank of Russia in our time is Elvira Nabiullina. She took over as head of the Bank of Russia in 2013, and since then numerous powers have fallen on her shoulders:

• work, representing the bank, with authorities, credit institutions, including foreign ones, as well as organizations not related to the economy;
• chair the board of directors of the Central Bank, with the head of the bank having a casting vote;
• sign personally and transfer the right to sign to an authorized representative from the board of directors regulations and other documents;
• appoint or remove their deputies;
• give deputies powers;
• indicate to your subordinates.

True, with this set of rights there are also many duties and responsibilities. The head of the Central Bank is obliged to ensure that the bank operates successfully, within the framework of the law, and to make decisions (with subsequent responsibility) concerning the work of the bank, except for those decided by the board of directors or the National Banking Council.

The Central Bank of Russia is a first-tier bank and serves as the main bank of the Russian Federation. It is the main issuing body and monetary institution of the country. It plays the role of the central coordinating and managing body of the credit system of the Russian Federation. The Central Bank controls other banks and has the right to issue and withdraw licenses from banks in Russia.

The Central Bank was formed in 1990 and is the legal successor to the State Bank of the USSR. Who owns and reports the Central Bank of the Russian Federation today, read in our article.

What are the tasks of the Central Bank of Russia

The main goals of the Central Bank of the Russian Federation are considered to be: protecting and guaranteeing the stability of the ruble, ensuring the continuous and efficient operation of the payment system, and developing the Russian banking system.

• It must be the issuing center of the Russian Federation, that is, have a monopoly right to issue money (which is confirmed by Article 75 of the Constitution of the Russian Federation);
• It must be a government bank, that is, carry out government settlement operations, provide loans to it, and support the economic programs of the state. And also the Central Bank of the Russian Federation must store the country’s gold and foreign exchange reserves;
• It should be the main settlement center of the state, that is, be an intermediary for non-cash payments between other banks of the Russian Federation;
• It should be a “bank for banks”, which means it should work not with outside clients, but mainly with Russian banks. Their interaction is characterized by the fact that the Central Bank of the Russian Federation stores the reserves of other banks (in the amount established by law), exercises control over the activities of other banks in the country and issues loans to them;
• He must regulate the economy using monetary methods. The Central Bank of the Russian Federation can issue loans to the government to pay off deficits in the state budget, but cannot finance loans to pay off deficits of off-budget government funds and budgets of Russian constituent entities.

Making a profit does not apply main goal Central Bank of the Russian Federation.

Who is the chairman (head) of the Central Bank of the Russian Federation

According to Art. 83 of the Constitution of the Russian Federation, the President of Russia proposes to the State Duma a candidate for election to the post of Chairman of the Central Bank of the Russian Federation. The President can also raise before the State Duma the question of removing the head of the Central Bank of the Russian Federation from his post.

Since 2013, Elvira Nabiullina has served as head of the Central Bank of the Russian Federation.

Who does the Central Bank of the Russian Federation report to and why the Central Bank does not belong to Russia

The Central Bank of the Russian Federation has been given a special constitutional and legal status. Its functions, powers and status are established by Federal Law No. 86-FZ. Legally, the Central Bank of the Russian Federation is a non-state body, i.e. it is not the property of the state, and its employees are not government employees, the status of the Central Bank of the Russian Federation is defined as entity. But in fact, in terms of its powers and goals, it belongs to state bodies, since the implementation of its functions involves measures of state coercion.

Who owns the Bank of Russia? Authorized capital and all the property of the Central Bank is federal property, while at the same time the Central Bank disposes of gold and foreign currency reserves and its property independently. The Central Bank of the Russian Federation does not pay for the obligations of Russia, just as Russia does not pay for the debts of the Central Bank, unless otherwise provided by law. This can be interpreted as follows: the state can go bankrupt, even if there is a reserve of gold and foreign exchange reserves stored in the Central Bank of the Russian Federation.

In fact, the government depends on the Central Bank of Russia. The Central Bank is financially independent from the state. He covers his own expenses with income. Until 2014, the Central Bank of the Russian Federation transferred half of its income to the Russian budget after paying all taxes and fees. In the fall of 2014, Vladimir Putin signed a law that obligated 75% of the Central Bank’s revenues to be transferred to the federal budget. This year, the Central Bank was obliged to give 15% of its income to Vnesheconombank.

Who runs the Central Bank of Russia

According to Article No. 15-FZ on the “Central Bank of the Russian Federation,” the management structure of the Central Bank of the Russian Federation consists of the head and members of the board of directors of 14 people. Members of the Council are elected by the State Duma on the proposal of the Chairman of the Central Bank in agreement with the President of the Russian Federation. The Board of Directors is elected for five years and works on a regular basis.

We also invite you to watch a video about who owns the Central Bank of Russia:

2. History

3. Auditors

4. Heads of the State Bank

5. Legal status

6. Functions of the Russian Central Bank

7. Determination of property rights Russian central bank in relation to the property assigned to him

8. Structural units Central Bank of Russia

Central Bank Russia (Russian Central Bank) - This the upper level of the two-tier banking system in Russia, which consists of the Central Bank of the Russian Federation and private banks (and other credit institutions). The Russian one controls the activities of credit institutions, issues and revokes their licenses to carry out banking operations, and credit companies work with other legal and physical entities. persons.

Status

In order to counter the use by banks of various kinds of schemes to artificially inflate or understate the value of mandatory ratios, in 2004 the Central Bank of Russia adopted a number of documents, including the Regulation “On the procedure for the formation of reserves for possible losses by credit institutions” and the Instruction “On mandatory ratios of banks.”

In connection with the expansion of the range of credit institutions providing mortgage loans to the population, in 2003 the Central Bank of the Russian Federation issued the Directive “On conducting a one-time survey on mortgage lending”, which determined the procedure for compiling and providing information on mortgage housing loans provided by credit institutions.

With acceptance Federal Law"On mortgage-backed securities" credit firms that ensure compliance with the requirements for protecting the interests of investors received a legislatively established opportunity to refinance their claims under mortgages due to issue of securities specified valuable papers.

In 2004, on the basis of the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia) (Central Bank of the Russian Federation)" and the Federal Law "On Mortgage securities"The Central Bank of the Russian Federation issued an Instruction "On mandatory standards for credit institutions carrying out money issue mortgage-backed bonds", which established the specifics of calculation and values ​​of mandatory ratios, the value and methodology for determining additional mandatory ratios of credit institutions that issue cash bonds with mortgage backing.

In December 2003, the Federal "On Deposit Insurance" was adopted physical persons in Russian banks". It defined the legal, financial and organizational basis for the functioning of the compulsory deposit insurance system individuals in Russian banks, as well as the competence, procedure for the formation and activities of the company performing the functions of compulsory insurance deposits, the procedure for paying compensation for deposits.

Currently, the vast majority of banks participate in the deposit insurance system. Almost 100 percent of all physical deposits are concentrated in them. persons placed in banking institutions in Russia.

In April 2005, the Russian Government and the Central Bank of the Russian Federation adopted the “Strategy for the development of the Russian banking sector for period until 2008."

In accordance with this document, the main goal of development of the banking sector for the medium term (2005-2008) is to increase its stability and operational efficiency.

The main objectives of the development of the banking sector are:

Strengthening the protection of the interests of depositors and other bank borrowers;

Increasing the efficiency of activities carried out by the banking sector to accumulate funds of the population and organizations and transform them into loans And ;

Increasing the competitiveness of Russian credit institutions;

Preventing the use of credit institutions to carry out unscrupulous commercial activities and for illegal purposes (primarily such as financing terrorism and money laundering);

Development of a competitive environment and ensuring transparency in the activities of credit institutions;

Strengthening investor confidence in the Russian banking sector, borrowers And investors.

Reforming the banking sector will contribute to the implementation of the Russian socio-economic development program for the medium term (2005-2008), primarily overcoming the raw material orientation of the Russian economy through its accelerated diversification and implementation competitive advantages. At the next stage (2009-2015), the Russian Government and the Central Bank of the Russian Federation will consider the priority task of effectively positioning the Russian banking sector in international financial markets.

State Bank of the USSR

In the context of the implementation of the new economic policy, by resolutions of the All-Russian Central Executive Committee and the Council of People's Commissars of October 3 and 10, 1921, respectively, the Bank was restored under the name of the State Bank of the RSFSR. It began operations on November 16, 1921. In 1923, the State Bank of the RSFSR was transformed into the State Bank of the USSR.

According to the Regulations on the State Bank of the RSFSR, adopted by the All-Russian Central Executive Committee on October 13, 1921, it was a business company created “with the aim of promoting loans and other banking operations to the development of industry, agriculture and trade turnover, as well as for the purpose of concentrating monetary turnover and carrying out other measures, aimed at establishing correct monetary circulation." He had the right to provide loans to industrial and commercial enterprises various forms of ownership, as well as agriculture and handicraftsmen only “subject to their security and economic feasibility"The State Bank was part of the People's Commissariat of Finance and reported directly to the People's Commissar of Finance.

In November 1921, the State Bank was granted a monopoly right to conduct transactions with currency and currency values. He was also supposed to establish the official exchange rate for foreign currency, regulating private contracts for the purchase and sale on the exchange of gold, silver, foreign currency, as well as checks and bills issued in foreign currency, permitted in 1922.

In 1922 and 1923, two denominations were carried out, enlarging the denomination of the sovznak - a paper banknote issued at that time by Narkomfin to cover the budget deficit. At the time of the first denomination, banknotes, which were exchanged in the ratio of one ruble issued in 1922 for 10 thousand rubles. banknotes of all types officially circulated in the country at that time; During the second denomination, banknotes of the 1923 model were exchanged for banknotes of 1922 in a ratio of 1:100.

On October 11, 1922, the State Bank was granted the right to issue money into circulation in chervonets - bank notes, and it turned into an emission center. With the start of the issue of chervonets securities, a monetary reform began, as a result of which the galloping post-war reform was stopped.

During 1922-24. Sovznak and chervonets were in circulation at the same time. Chervonets was a paper currency based on gold. It was equivalent to 7.74232 g of pure gold, i.e. to the royal coin of 10 rubles. Since 1923, gold chervonets were minted, which were mainly used in foreign trade.

In March 1924, the monetary reform was completed. Ruble a new sample, which was a means of exchange for a chervonets and was equal to 1/10 of a chervonets, was exchanged for 50 thousand rubles in Sovznakami of 1923 or for 50 million rubles. banknotes of earlier samples.

IN period NEP practiced such types of bank loans as discounting bills, demand loans from special current accounts secured by bills, as well as urgent loans secured by debt bills. In addition to these loans, the bank began to provide direct targeted lending three years after its creation. In October 1924, a consolidated credit plan of the State Bank for all branches was drawn up for the first time.

As a result of the reform of the cash system of the State Treasury carried out in 1925, the cash enterprises of the State Bank and Narkomfin were merged.

Since 1922, the country began to create private banks, including industry joint-stock banks (special banks) and mutual loan companies, which were supposed to provide short-term or long-term lending to certain industries farms. In 1924, under the Board of the State Bank, a Committee on Banking Affairs was created, which was supposed to coordinate their activities.

In the second half of the 20s, the functions and activities of the State Bank changed radically. This was mainly due to the accelerated pace of industrialization, which required large investments in heavy industry for a short time.

Carrying out industrialization in the USSR in traditional ways, i.e. through the accumulation of funds within the country and external loans, it was impossible. The population did not have the necessary savings, and loans could not be provided either according to economic (world economic collapse), nor by political reasons. As a result, industrialization in the country was carried out through emission financing. The search for a way that would allow the state to redistribute funds between sectors of the economy in the simplest form continued throughout the entire period of the collapse of the NEP.

In June 1927, in connection with the strengthening of regulation of the movement of short-term capital, the State Bank was entrusted with the responsibility of direct operational management of the entire credit system while maintaining the general regulation of its activities under the People's Commissariat of Finance. The State Bank was supposed to monitor the activities of other credit institutions in accordance with government directives in the field of credit politicians. Special banks had to keep available funds and receive credit only from the State Bank, which was given the right to participate in their boards and audit bodies. In addition, the State Bank was supposed to increase its share in joint stock capital special banks.

In February 1928, in connection with the reorganization of the banking system, the State Bank began to concentrate the bulk of short-term lending operations. At the same time, most of the branches of joint-stock banks came under his jurisdiction, and began to play a supporting role in lending to the economy. Long-term lending operations were carried out mainly in a specially created long-term lending bank industry and electrical facilities (BDK), Central Bank utilities and housing construction (Tsekombank) and partly in the Central Agricultural Bank (TsSKhbank).

In August 1928, the State Bank was entrusted with the responsibility for cash execution state budget, which made it possible to concentrate the cash transactions of the socialist economy in it.

In June 1929, the first Charter of the State Bank was adopted, according to which the bank was the body regulating money circulation and short-term lending in accordance with the general development plan National economy THE USSR.

In the late 20s - early 30s. In the USSR, a set of reforms was implemented, the purpose of which was to create an effective mechanism for centralized planned regulation of the material and financial aspects of the reproduction process. In this regard, in 1930-32. a credit reform was carried out, as a result of which a mechanism for centralized planned regulation of the movement of monetary resources was created.

In January 1930, in connection with the liquidation of the mutual commercial loan, all operations on direct short-term lending began to be carried out in the State Bank. All special banks turned into long-term investment banks, and the network of their branches was liquidated. Special banks had to carry out their operations through branches of the State Bank.

In January 1931, an acceptance form for non-cash payments through the State Bank was introduced. In March 1931, the functions of the State Bank were defined as a single bank for short-term lending, a settlement and cash center for the economy.

In June 1931, the division of working capital was carried out enterprises on own and borrowed funds and the basic principles of short-term bank loans are determined. Empowering enterprises with their own working capital made it possible to establish bank lending facilities. Short-term loans to state-owned enterprises began to be provided only for needs related to the financing of valuables in transit, advances of seasonal production reserves, accumulation of seasonal reserves of raw materials, fuel, production and auxiliary materials, temporary increase in investments in work in progress, seasonal accumulation of finished trade items and goods, as well as for other temporary needs related to process production and circulation of goods.

In May 1932, the functions between the State Bank and the long-term investment banks (Prombank, Selkhozbank, Vsekobank and Tsekombank) were finally delineated. As a result of the credit reform, the activities of the State Bank finally lost their commercial character, and the main functions of the Soviet-style State Bank were formed - planned lending to the economy, money circulation and settlements, cash execution state budget and implementation of international payments. At the same time, the structure of the credit system was formed, which existed with minor modifications for 55 years.

Subsequently, the improvement of the activities of the State Bank was reduced to the introduction of new forms of planned lending to the economy and bank settlements, as well as methods of monitoring the expenditure of funds on wages (80% of cash turnover) and the collection of trade proceeds.

In February 1930, due to the cancellation of sales to private individuals gold and foreign currency for chervonets at a fixed rate and the withdrawal of Soviet currency from foreign circulation exchanges A quotation commission was organized under the Board of the State Bank to establish foreign currency exchange rates.

In 1933, the State Bank carried out a number of measures to speed up settlements, improve accounting, improve the document management system and strengthen internal bank control. The nomenclature of State Bank balance sheet items was restructured: they began to be grouped according to departmental characteristics, which made the balance sheet comparable to the credit plan. A transition was also made to decentralized matching of inter-branch turnover while maintaining overall control in the center.

In 1939, the State Bank began collecting cash. During the Great Patriotic War 1941-45 The State Bank issued cash to cover the state budget deficit money, as a result of which it increased 4 times during this time. In order to normalize monetary circulation, a liquidation-type monetary reform was carried out in 1947, during which cash was exchanged money old model to a new one in a ratio of 10:1, cash deposits in savings banks were revalued and all issued government loans were converted (except for the 1947 loan).

In March 1950, the gold content of the ruble was established at 0.222168 g pure gold. In December 1949, the second Charter of the State Bank was adopted. In April 1959, in connection with the reorganization of the credit system, part of the operations of the Agricultural Bank, Tsekombank and communal banks was transferred to the State Bank. Since 1960, the State Bank began drawing up plans for lending to long-term investments. In May 1961, the ruble was also dedenominated. New banknotes were exchanged for old ones in a ratio of 1:10. At the same time, the gold content of the ruble was increased only 4 times and amounted to 0.987412 g of pure gold.

In October 1960, the third Charter of the State Bank was adopted, and since 1963, state labor savings banks were transferred to the jurisdiction of the State Bank. In 1965-69. During the economic reform, changes occurred in the activities of the State Bank related to lending and settlements, planning and regulation of money circulation, financing of capital investments and the savings business. The main types of industrial lending are turnover lending material assets And costs on wages and on simple loan accounts.

In July 1987, in connection with the reorganization of the credit system, as a result of which new special banks were formed (Vnesheconombank of the USSR, Promstroibank of the USSR, Zhilsotsbank of the USSR and Sberbank of the USSR), the State Bank began to perform the functions of the main bank of the country. He was entrusted with the development of a consolidated credit plan and plans for the distribution of resources and credit investments across all banks.

In September 1988, the fourth Charter of the State Bank of the USSR was approved, according to which it was the main bank of the country, a single emission center, and organizer of credit and settlement relations in the national economy.

Since March 1989, in connection with the transition of special banks to full economic accounting and self-financing, the State Bank was entrusted with the obligation to communicate to them control figures for the volume of credit resources, the amount of funds raised from the population, the volume of receipts and payments in foreign currency for banking operations.

In January 1990, the USSR Savings Bank was transferred to the State Bank. On July 13, 1990, on the basis of the Russian Republican Bank of the State Bank of the USSR, the State Bank of the RSFSR, reporting to the Supreme Council of the RSFSR, was created. On December 2, 1990, the Supreme Council of the RSFSR adopted a law on the Central Bank of the RSFSR (Central Bank of Russia), according to which the Central Bank of the Russian Federation (Bank of Russia) was legal face, the main bank of the RSFSR and was accountable to the Supreme Council of the RSFSR. The law defined the functions of the bank in the field of monetary circulation, monetary regulation, foreign economic activity and regulation of the activities of joint-stock and cooperative banks.

In December 1990, the laws “On the State Bank of the USSR” and “On Banks and Banking Activities” were adopted. In accordance with them, the State Bank of the USSR, together with the national banks established at that time on the basis of the republican bank offices, was supposed to create a unified system of central banks based on a common monetary unit (the ruble) and performing the functions of a reserve system. In June 1991, the Charter of the Central Bank of the RSFSR (Central Bank of the Russian Federation), reporting to the Supreme Council of the RSFSR, was approved. from July 1990 to December 1991 was a time of confrontation between the Russian State Bank and the State Bank of the USSR.

In November 1991, in connection with the formation of the Commonwealth Independent States and the abolition of union structures, the Supreme Court of the RSFSR declared the Central Bank of the RSFSR to be the only body on the territory of the RSFSR for state monetary and currency regulation of the economy of the republic. It was entrusted with the functions of the State Bank of the USSR in issuing and determining the exchange rate of the ruble. The Central Bank of the RSFSR was ordered to take into its full economic jurisdiction and management the material and technical base and other resources of the State Bank of the USSR, the network of its institutions, enterprises and organizations, before January 1, 1992.

On December 20, 1991, the State Bank of the USSR was abolished and all of its assets and liabilities, as well as property on the territory of the RSFSR, were transferred to the central bank of the RSFSR (Russian central bank).

Auditors

Auditors for the annual report of the central bank are appointed by decision of parliament ( Supreme Council, then - the State Duma).

Until 1995, exclusively foreign organizations were appointed auditors: the law on the central bank established a necessary condition when choosing an audit company, it must have 10 years of experience, which exceeds the duration of the audit in the Russian Federation.