Federal Law No. 86-FZ of 2002 on the Central Bank of the Russian Federation
(amended through 2008)
Federal Law No. 86-FZ of 2002 on the Central Bank of the Russian Federation determines the status, objectives, functions, powers and principles of the organization and activity of the Central Bank of the Russian Federation.
- The first section of the law states that:
- The management of the central bank shall remain with the Board of Directors; and
- The authorized capital of the central bank shall be 3 billion rubles.
- Next, the law establishes the relations of the central bank with:
- The bodies of state power;
- The bodies of local self-administration; and
- Credit organizations.
- Further, the law includes provisions for:
- Accounting requirements of the central bank;
- Organization of the cash turnover;
- The monetary credit policy;
- Operations of the central bank; and
- The international and foreign economic activity.
- The law concludes with the provisions applicable for:
- Banking regulation and supervision;
- Organization of the settlements;
- Principles of the organization of the central bank;
- Employees of the central bank; and
- Audit of the central bank.