Federal Law No. 86-FZ of 2002 on the Central Bank of the Russian Federation

Russia

(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.