1. Organizational structure and functions of the Central Bank
2. Regulation of monetary circulation by the Central Bank
The banking system of Russia includes the Bank of Russia, credit organizations, as well as branches and representative offices of foreign banks. The new banking legislation has made fundamental changes not only in the elementary composition of the credit and banking system, but also in the principles of building and managing this system. The modern banking system of Russia has a two-level structure. The criterion for assigning elements to one or another level is their position in the system, due to the relationship of subordination. The central bank is located at the top level, as it is authorized by the state to regulate and control the system as a whole. Commercial banks and credit institutions make up the lower level of the system.
The purpose of this work is to analyze the activities of the Central Bank of Russia and the financial activities of the state.
1) consider the organizational structure and functions of the Central Bank;
2) analyze the regulation of monetary circulation by the Central Bank.
1. Organizational structure and functions of the Central Bank
Organizational structure of the Central Bank. The Bank of Russia forms a single centralized system with a vertical management structure. The CBR system includes: the central office, the main territorial administrations and national banks, cash and settlement centers, regional information centers, computer centers, banking schools and other organizations.
The national banks of the republics, the main territorial administrations, settlement and cash centers are territorial institutions of the Central Bank and do not have the status of a legal entity and the right to make regulatory decisions, as well as to issue guarantees and guarantees, promissory notes and other obligations without the permission of the Board of Directors of the Bank of Russia.
The supreme body of the Bank of Russia is the Board of Directors – a collegial body that determines the main directions of the Bank of Russia's activities, i.e., the Bank of Russia's management. The Board of Directors performs strategic management functions. The current management of the Bank of Russia is carried out by the Chairman of the Bank of Russia. All members of the Board of Directors work on a permanent basis at the Bank of Russia. Members of the Board of Directors and the Chairman of the Bank of Russia are appointed by the State Duma for a term of four years. The Board of Directors, chaired by the President of the Bank of Russia takes such strategic decisions, such as size of reserve requirements for commercial banks, the establishment of mandatory regulatory requirements, changes in interest rates the Bank of Russia, the application of direct quantitative restrictions on activities of commercial banks, etc.
The authorized capital and other property of the Bank of Russia are federal property. The Central Bank carries out its expenses at the expense of its own income and is not registered with the tax authorities.
The state is not responsible for the obligations of the Central Bank and the Central Bank is not responsible for the obligations of the state. The authorized capital is 3 billion rubles. The Central Bank of Russia creates reserves and funds for various purposes at the expense of its profits. The Bank of Russia is accountable to the State Duma of the Federal Assembly of the Russian Federation. On matters within its competence, it has the right to issue regulations that are binding on all legal entities and individuals. Every year, the Bank of Russia reports on its activities to the State Duma. This report includes: annual balance sheet, profit and loss account, profit distribution, report on the state of banking in the country, audit report on the annual report of the Bank of Russia, etc.
Making a profit is not the purpose of the Bank of Russia. The profit of the Central Bank after sending it to various reserves and funds is transferred to the income of the federal budget. In addition, the Bank of Russia and its institutions are exempt from paying all taxes, fees, duties and other payments on the territory of Russia.
The Bank of Russia performs the following functions, which are defined in the current legislation (Article 4 of the Federal Law):
1) in cooperation with the Government of the Russian Federation, develop and implement a unified state monetary policy aimed at protecting and ensuring the stability of the ruble;
2) the sole Issuer of cash and organizes their treatment;
3) is a lender of last resort for credit institutions, organizes a refinancing system;
4) establishes the rules for making settlements on the territory of Russia;
5) establish rules for conducting banking operations, accounting and reporting for the banking system;
6) performs state registration of credit organizations, issues and revokes licenses of credit organizations and organizations engaged in their audit;
7) supervises the activities of credit institutions;
8) registers the issue of securities by credit institutions in accordance with federal laws;
9) performs independently or on behalf of the Government of the Russian Federation all types of banking operations necessary to perform the main tasks of the Bank of Russia;
10) carries out currency regulation, including transactions for the purchase and sale of foreign currency; determines the procedure for making settlements with foreign states;
11) organize and carry out currency control both directly and through authorized banks in accordance with the legislation of the Russian Federation;
12) participates in the development of the forecast of the balance of payments of the Russian Federation and organizes the preparation of the balance of payments of the Russian Federation;
13) in order to perform these functions, analyze and forecast the state of the economy of the Russian Federation as a whole and by region, primarily monetary, monetary, financial and price relations; publish relevant materials and statistical data;
14) performs other functions in accordance with federal laws.
Classification of functions of the Bank of Russia on the basis of their consolidation in the Federal Law is as follows: 1) the function of banking regulation; 2) the function of banking supervision and control; 3) the function of issuing cash and organizing its circulation; 4) the function of interaction with federal state authorities and management (Article 4, paragraphs 12, 13); 5) the international legal function (Chapter IX); 6) the analytical, scientific and predictive function; 7) the function of banking services; 8) functions of the Bank of Russia as an independent legal entity-a participant in civil, labor, administrative and other legal relations; 9) other functions assigned to the Bank of Russia by federal legislation. Other functions of the Bank of Russia can be assigned a function of registering the issue of securities by credit institutions in compliance with Federal laws (item 8 of article 4 of the Federal law), the storage function and implementation of operations with the Federal budget and state extra-budgetary funds, budgets of constituent entities of the Russian Federation and local budgets, as well as the operations of servicing the public debt and operations with foreign exchange reserves of the Russian Federation (article 23 of the Federal law), etc.
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