central bank Russian Federation represents a single centralized system with a vertical management structure. The system includes: the central office, territorial offices, cash settlement centers, computer centers, field offices and educational establishments, vaults, as well as other enterprises, institutions and organizations, including security units, necessary for the successful operation of the bank.
National banks republics that are part of the Russian Federation are territorial institutions Bank of Russia. They do not have the status of a legal entity and do not have the right to make decisions of a regulatory nature, as well as issue guarantees and sureties, promissory notes and other obligations without the permission of the Board of Directors of the Bank of Russia.
The tasks and functions of the territorial institutions of the Bank of Russia are determined by the Regulations on these institutions approved by the Board of Directors. Currently, the Central Bank of the Russian Federation is considering the possibility that they can be created according to economic regions uniting the territories of several subjects of the Russian Federation.
The supreme body of the Bank of Russia is the Board of Directors. This is a collegial body that determines the main areas of activity of the Bank of Russia and manages it. The Board of Directors includes the Chairman of the Bank of Russia and 12 members of the Board.
Members of the Board of Directors work here on a permanent basis. They are approved State Duma on the proposal of the Chairman of the Bank, who is also the Chairman of the Board of Directors.
The Board of Directors, in cooperation with the Government, develops a unified state monetary policy and ensures its implementation.
The structure and staffing of the central office of the Bank of Russia, as well as the charters of its other structural divisions approves this Council.
Its powers include: changes in rates on centralized loans, reserve requirements, economic standards; determination of admission conditions foreign capital to the banking system of Russia; other decisions on issues of great importance both for the Bank of Russia and for the banking system and the country's economy as a whole. Each decision of the Board of Directors is considered adopted if the majority of members voted for it.
Thus, the Board of Directors not only heads and organizes the work of the Bank of Russia, but also regulates the activities of the country's commercial banks.
The Central Bank of the Russian Federation occupies a special position among all legal entities involved in the management or economic activity. On the one hand, it is an organ government controlled; on the other hand, the bank acts as a commercial enterprise trading in money, although making a profit is not the purpose of the activity of the Central Bank of the Russian Federation.
The Bank performs its functions defined by the Constitution of the Russian Federation (Article 75) and the Law “On the Central Bank of the Russian Federation (Bank of Russia)” (Article 22), regardless of federal bodies state authorities, public authorities of the subjects of the federation and bodies local government.
The central bank is primarily an intermediary between the state and the rest of the economy through banks. As such an institution, it is called upon to regulate cash and credit flows with the help of instruments that are assigned to it by law.
According to Article 75 of the Constitution of the Russian Federation, the main function of the Bank of Russia is to protect and ensure the stability of the ruble, and money emission is carried out exclusively by the Bank of Russia. Article 4 federal law"On the Central Bank of the Russian Federation (Bank of Russia)", the Bank of Russia performs the following functions:
- - in cooperation with the Government of the Russian Federation develops and implements a unified state monetary policy;
- - monopoly issues cash and organizes cash circulation;
- - approves graphic designation ruble in the form of a sign;
- - is a lender of last resort for credit institutions, organizes a system of their refinancing;
- - establishes the rules for making settlements in the Russian Federation;
- - establishes the rules for conducting banking operations;
- - maintains accounts of budgets of all levels budget system of the Russian Federation, unless otherwise provided by federal laws, through settlements on behalf of authorized executive bodies and state off-budget funds responsible for organizing the execution and execution of budgets;
- - carries out effective management gold and foreign exchange reserves of the Bank of Russia;
- - decides on state registration credit institutions, issues licenses to credit institutions to carry out banking operations, suspends their validity and revokes them;
- - supervises the activities of credit institutions and banking groups;
- - registers the issue of securities credit institutions in accordance with federal laws;
- - carries out independently or on behalf of the Government of the Russian Federation all types of banking operations and other transactions necessary to perform the functions of the Bank of Russia;
- - organizes and implements currency regulation and currency control in accordance with the legislation of the Russian Federation;
- - determines the procedure for making settlements with international organizations, foreign states, as well as with legal entities and individuals;
- - sets the rules accounting and reporting for the banking system of the Russian Federation;
- - installs and publishes official rates foreign currencies in relation to the ruble;
- - takes part in the development of the forecast of the balance of payments of the Russian Federation and organizes the compilation of the balance of payments of the Russian Federation;
- - establishes the procedure and conditions for the implementation by currency exchanges of activities to organize the conduct of transactions for the purchase and sale of foreign currency, issues, suspends and revokes permits currency exchanges for the organization of operations for the purchase and sale of foreign currency (the functions of issuing, suspending and revoking permits to currency exchanges for organizing operations for the purchase and sale of foreign currency will be performed by the Bank of Russia from the date of entry into force of the federal law on the introduction of appropriate amendments to the Federal Law " licensing certain types activities";
- - analyzes and forecasts the state of the economy of the Russian Federation as a whole and by region, primarily monetary, monetary, financial and price relations, publishes relevant materials and statistical data;
- - makes payments by the Bank of Russia on deposits individuals in bankrupt banks that do not participate in the system of compulsory insurance of deposits of individuals in banks of the Russian Federation, in the cases and in the manner provided for by federal law;
- - is a depository of the funds of the International Monetary Fund in the currency of the Russian Federation, carries out operations and transactions stipulated by the articles of the Agreement of the International Monetary Fund and agreements with the International Monetary Fund;
- - performs other functions in accordance with federal laws
The Central Bank provides cash, credit and settlement service commercial banks. In the process of cash servicing commercial banks, he provides them with cash in exchange for their reserves, which are saved in accounts with central bank. In the process credit service commercial banks, the central bank provides them with additional reserves in order to maintain their liquidity, i.e. acts as a lender of last resort. In addition, when pursuing monetary policy, the central bank uses lending (refinancing) of commercial banks as a monetary instrument. credit policy.
Supervisory and regulatory functions of the Bank of Russia are expressed in the state registration of credit institutions and licensing of banking operations, in the establishment of mandatory economic standards for credit institutions, as well as the rules for conducting banking operations, accounting rules, compiling statistical reporting, in presenting qualification requirements for the heads of executive bodies and the chief accountant of a credit institution. The Bank of Russia has the right to request and receive from credit institutions the necessary information about their activities, to require clarifications on the information received.
Supervisory authorities (the central office of the Bank of Russia and its territorial branches) apply two types of enforcement measures to credit institutions:
warning;
forced.
The specific composition of the applied measures of influence may include both measures of influence of only one type (preventive or coercive), and combine measures of influence of different types. The choice of measures of influence is made supervisory authorities independently based on the provisions of Bank of Russia regulations, taking into account:
the nature of the violations committed by the credit institution;
the reasons for the occurrence of the identified violations;
the general financial condition of the credit institution;
Coercive measures of influence are applied to a credit institution in cases where this follows from the nature of the violations committed, taking into account the fact that the application of preventive measures impact does not bring results or cannot ensure proper adjustment of the activities of the credit institution. The grounds for the application of coercive measures are violations (non-compliance) by the credit institution with banking legislation, regulations and instructions of the Bank of Russia, failure to provide information, provision of incomplete or inaccurate information, and also if the operations performed by the credit institution created a real threat to the interests of customers and (or) creditors (depositors).
The main coercive measures include:
a requirement for the credit institution to take measures for its financial recovery, including a requirement for the provision and implementation of a plan of measures for financial recovery;
adjustment requirement own funds(capital) and size authorized capital credit institution;
a requirement to reorganize a credit institution, including a requirement to submit and implement a reorganization action plan;
restriction of holding by credit institutions individual operations for up to six months;
a ban on the implementation by credit institutions of banking operations provided for by the issued license for a period of up to one year;
a ban on opening branches for up to one year;
requirement to replace the heads of the credit institution;
appointment of a temporary administration to manage the credit institution;
revocation of the banking license.
The functions of the central bank are often intertwined, from one another follows, if this is required to achieve a set goal or solve a specific problem (Appendix).
Thus, the Central Bank of the Russian Federation performs the following main functions: it carries out a monopoly issue of banknotes, is a bank of banks, a government banker, conducts monetary regulation and banking supervision.
The functions of the central bank (monopoly issue of money, the bank of banks) in Russia for the first time began to be performed by National Bank Russia, created in 1860 and directly subordinate to the Minister of Finance. After the nationalization of commercial banks in 1917 and their merger with the State Bank of Russia, the latter was renamed National Bank RSFSR. In 1920, the People's Bank of the RSFSR was abolished, and the right money issue handed over to Narkomfin. In 1921, the State Bank of the USSR was created, which is directly subordinate to the Government. Prior to the banking reform of 1987, the State Bank of the USSR was the single issue, credit, settlement and cash center of the country, performing all the functions inherent in both central and commercial banks.
Since 1988, the functions of lending and settlement and cash services National economy were transferred to state specialized banks while maintaining the state monopoly of banking and strict centralization of credit management.
The Central Bank in the Russian Federation was created after it gained sovereignty on the basis of the State Bank of the USSR, initially in the form of the State Bank of the RSFSR, which in December 1990 was renamed the Central Bank of the RSFSR (Bank of Russia), and in April 1995 - in (Bank of Russia) .
In accordance with Russian legislation the property of the Bank of Russia is owned by the state. The Central Bank of the Russian Federation is a legal entity, independently performs its functions and in its current activities is independent of state economic management bodies. The authorized capital and other property of the Bank of Russia are federal property. The Central Bank of the Russian Federation carries out its expenses at the expense of own income, is not liable for the obligations of the state, and the state is not liable for the obligations of the bank. Regulations issued by the Central Bank of the Russian Federation are obligatory for state authorities of the Russian Federation and its subjects, local governments, all legal entities and individuals. Draft federal laws and regulations of federal executive bodies concerning the performance of the functions of the Bank of Russia (BR) must be submitted for its conclusion.
The Bank of Russia has a three-tier governance structure. Highest level– Board of Directors and central office (Board of the Bank) in Moscow. The second level is the main departments (GU of the Central Bank of the Russian Federation) in major regions and national banks of the republics within the Russian Federation, acting as branches of the BR (there are more than 80 of them). The third level is cash settlement centers operating as structural subdivisions of the Main Directorate of the Central Bank of the Russian Federation. In addition, the structure of the Bank of Russia has about twenty departments and offices, various educational, methodological, field institutions, computer centers, security units, etc.
According to the charter, the Central Bank of the Russian Federation and its GU are a single centralized system with a vertical management structure. Head offices, RCCs are not legal entities. Their obligations are at the same time the obligations of the BR, they make transactions only on behalf of the BR, they do not have the right to make decisions of a regulatory nature, as well as issue guarantees and sureties, promissory notes and other obligations without the permission of the Board of Directors.
The supreme body of the Bank is the Board of Directors, which manages the activities of the Bank for the implementation monetary policy government. The Council consists of the Chairman of the Bank and 12 members. The Chairman of the BR is appointed for a period of four years by the State Duma (on the proposal of the President of the Russian Federation). The Board of Directors is approved by the State Duma (on the proposal of the Chairman of the BR). The same person is not entitled to hold office for more than three consecutive terms (12 years).
Chairman and Board of Directors:
· develop and implement the necessary measures to implement the monetary policy of the state;
install overall size emission of money and norms required reserves credit institutions;
· approve interest rates for refinancing of CBs;
· take decisions on structural subdivisions of the central office and local bodies of the Bank;
determine the rules for the work of credit institutions;
· approve the cost estimate and the annual activity report of the Bank;
carry out operational management of the country's monetary system.
The Chairman of the Bank represents it in government bodies, manages the work of the Board of Directors, signs regulations and orders and is responsible for the implementation of the functions and tasks of the bank in the field of organizing monetary relations.
In order to depoliticize the Central Bank, its chairman and members of the board of directors may not be members of socio-political parties and religious organizations, may not work part-time (except for teaching and research work), hold any positions in credit institutions, disclose inside information and receive loans for consumer needs in other banks.
A collegial body has been created under the Central Bank - National Banking Council (NBS). It consists of 12 people, two of whom are members of the Federation Council, three are deputies of the State Duma, three are representatives of the President of the Russian Federation, and three are members of the Government of the Russian Federation. The NBS also includes the Chairman of the Bank of Russia.
The competence of the NBS includes:
1) consideration annual report Bank of Russia;
2) approval based on the proposals of the Board of Directors for another year the total amount of expenses for the maintenance of employees of the Bank of Russia, for their pensions, life insurance and health insurance; total volume capital investments and other administrative and business expenses;
3) consideration of issues of improving the banking system of the Russian Federation;
4) consideration of the main directions of the unified state monetary policy (including their draft);
5) resolving issues related to the participation of the Bank of Russia in the capital of CIs;
6) appointment of the chief auditor of the Bank of Russia and consideration of his reports;
7) quarterly consideration of information from the Board of Directors on the main issues of the Bank of Russia's activities;
8) approval of accounting and reporting rules for the Central Bank of the Russian Federation, etc.
In its activities, the Bank of Russia is accountable State Duma. This accountability of the Bank is expressed in the adoption by the Duma of the following acts:
Appointment and dismissal official duties Chairman of the Bank of Russia and members of the Board of Directors;
· holding parliamentary hearings on the activities of the Bank with the participation of the Chairman and members of the Council;
· discussion of the Chairman's reports on the results of the bank's annual activities and the implementation of the main directions of the government's monetary policy;
· sending and recalling their representatives to the NBS within the quota (3 persons);
· consideration and approval of the annual report and the auditor's report;
· adoption of a decision on the audit by the Accounts Chamber of the Russian Federation of the financial and economic activities of the Bank of Russia, its structural divisions and institutions (only on the basis of the proposal of the National Banking Council).
Reporting period Bank is established from January 1 to December 31 of each calendar year. The structure of the balance sheet is determined by the Board of Directors, taking into account the experience of the central issuing banks of other countries. The deadline for submitting the annual report to the State Duma is May 15 of the next year.
The annual report contains:
analysis of the state of the economy, monetary circulation, financing, lending, settlements and currency position;
· Measures to implement the government's monetary policy;
· annual financial statements of the Bank;
· the conclusion of the Accounts Chamber of the Russian Federation based on the results of the audit of accounts and operations of the Central Bank of the Russian Federation, which are subject to the Law "On State Secrets";
· conclusion of the audit firm on the results of activities for the reporting year.
The State Duma considers the report of the Bank before July 1 of the next year and sends it with its conclusion to the Government and the President of the Russian Federation. The balance sheet of the Bank is published in the central press of the country until July 15 of the next year.
The Bank of Russia monthly publishes its balance sheet, data on money circulation, including the dynamics and structure of the money supply, and generalized data on the operations of the Bank of Russia.
Intradepartmental inspections of the central office and territorial subdivisions of the Bank are carried out by the chief auditor, who is appointed by the NBS. Federal government authorities and local governments do not have the right to interfere in the current activities of the Bank and make decisions that are contrary to the current legislation. When interfering in the performance of its functions, the Bank informs the Duma and the President about this. At the same time, the Bank has the right to apply to various courts to cancel decisions that are contrary to the legislation of the Russian Federation on banking activities.
Structure is a form of internal organization (arrangement) of the elements of an organ. The structure of the Central Bank of the Russian Federation is a single centralized system of divisions of the main bank of the country with a vertical management structure, consisting of a certain set of interrelated elements determined by the goals, objectives and competence of the Central Bank of the Russian Federation.
The structure of the Central Bank of the Russian Federation includes:
central office;
Territorial institutions;
Settlement and cash centers;
Computing centers;
Field institutions;
Educational establishments;
Other organizations, including security units and the Russian Collection Association, which are necessary for the implementation of the activities of the Central Bank of the Russian Federation.
The governing bodies of the Central Bank of the Russian Federation are:
National Banking Council;
Chairman of the Central Bank of the Russian Federation;
Board of Directors of the Central Bank of the Russian Federation.
The National Banking Council is a collegiate management body of the Central Bank of the Russian Federation with 12 members, of which two are sent by the Federation Council (from among the members of the Federation Council), three by the State Duma (from among the deputies of the State Duma), three by the President of the Russian Federation, three - the Government of the Russian Federation. The National Banking Council also includes the Chairman of the Central Bank of the Russian Federation.
They are recalled by the state authority that sent them to the Council. Members of the National Banking Council, with the exception of the Chairman of the Central Bank of the Russian Federation, do not work for the Central Bank of the Russian Federation on a permanent basis and do not receive payment for this activity.
The Chairman of the National Banking Council is elected by the members of the Council from among them by a simple majority of votes. The vice-president is elected in the same manner.
The National Banking Council meets at least once a quarter. Meetings are appointed by the Chairman (his deputy), as well as at the request of the Chairman of the Central Bank of the Russian Federation or at least three members of the National Banking Council.
Decisions of the National Banking Council are made by a majority vote of seven people present at a quorum. In the event of an equality of votes, the chairperson of the meeting has a casting vote.
National Banking Council:
1) considers the annual report of the Central Bank of the Russian Federation;
2) approves (based on the proposals of the Board of Directors) for the next year:
The total amount of expenses for the maintenance of employees of the Central Bank of the Russian Federation;
The total amount of expenses for pensions, life insurance and medical insurance of employees of the Central Bank of the Russian Federation;
The total volume of capital investments;
The total volume of other administrative and economic expenses;
3) approves (if necessary) on the basis of the proposals of the Board of Directors, additional expenses for the maintenance of employees of the Central Bank of the Russian Federation, additional expenses for pensions, life insurance and medical insurance of employees of the Central Bank of the Russian Federation, additional capital investments, as well as approval of other additional administrative and economic expenses;
4) considers issues of improving banking
RF systems;
5) considers the draft of the main directions of the unified State monetary policy and the main directions of the unified state monetary policy;
6) resolve issues related to the participation of the Central Bank of the Russian Federation in the capital of credit institutions;
7) appoints the chief auditor of the Central Bank of the Russian Federation and hears his reports;
8) quarterly considers the information of the Board of Directors on the main issues of the activities of the Central Bank of the Russian Federation:
Implementation of the main directions of the unified state monetary policy;
Banking regulation and banking supervision;
Implementation of the policy of currency regulation and currency control;
Organization of the settlement system in the Russian Federation;
Execution of cost estimates of the Central Bank of the Russian Federation;
Preparation of draft legislative acts and other normative acts in the field of banking;
9) determines the audit organization - the auditor of the annual financial reporting TSB RF;
10) submit proposals to the State Duma on conducting an audit by the Accounts Chamber of the Russian Federation of the financial and economic activities of the Central Bank of the Russian Federation, its structural divisions and institutions;
11) at the suggestion of the Board of Directors approves:
Accounting and reporting rules for the Central Bank of the Russian Federation;
The procedure for the formation of provisions of the Central Bank of the Russian Federation and the procedure for the distribution of profits remaining at the disposal of the Central Bank of the Russian Federation;
Report on expenses for the maintenance, pensions, life insurance and medical insurance of employees of the Central Bank of the Russian Federation, capital investments and other administrative and economic needs.
The Chairman of the Central Bank of the Russian Federation is appointed by the State Duma for a period of four years by a majority vote of the total number of deputies on the proposal of the President of the Russian Federation.
The same person cannot hold the position of the Chairman of the Central Bank of the Russian Federation for more than three consecutive terms.
The Chairman of the Central Bank of the Russian Federation may be relieved of his post, but only in the following cases:
Expiration of the term of office;
Inability to perform official duties, which must be confirmed by the conclusion of the state medical commission;
Submission of a personal letter of resignation;
Committing a criminally punishable act established by a court verdict that has entered into legal force;
Violations of federal laws that regulate issues related to the activities of the Central Bank of the Russian Federation.
The peculiarities of the legal status of the Chairman of the Central Bank of the Russian Federation is that he:
1) acts on behalf of the Central Bank of the Russian Federation and represents its interests in relations with state authorities, credit institutions, organizations of foreign states, international organizations, other institutions and organizations;
2) chair the meetings of the Board of Directors, in case of equality of votes, his vote is decisive;
3) signs the regulations of the Central Bank of the Russian Federation, decisions of the Board of Directors, minutes of its meetings, agreements concluded by the Central Bank of the Russian Federation;
4) appoints and dismisses deputies of the Chairman of the Central Bank of the Russian Federation, distributes duties between them;
5) have the right to delegate their powers to their deputies;
6) signs orders and gives instructions that are binding on all employees and organizations of the Central Bank of the Russian Federation;
7) bear full responsibility for the activities of the Central Bank of the Russian Federation;
8) ensures the implementation of the functions of the Central Bank of the Russian Federation and makes decisions on all issues assigned by federal laws to the jurisdiction of the Central Bank of the Russian Federation (with the exception of those on which decisions are made by the National Banking Council or the Board of Directors).
Main collegiate body direct control Central Bank of the Russian Federation - Board of Directors. It includes the Chairman of the Central Bank
RF and 12 members of the Board of Directors working on a permanent basis.
Members of the Board of Directors are appointed by the State Duma for a period of four years on the proposal of the Chairman of the Central Bank of the Russian Federation, agreed with the President of the Russian Federation.
Members of the Board of Directors are dismissed:
Chairman of the Central Bank of the Russian Federation - upon expiration of the term of office,
State Duma on the proposal of the Chairman of the Central Bank of the Russian Federation - before the expiration of the term of office.
The Board of Directors meets at least once a month. Meetings are appointed by the Chairman of the Central Bank of the Russian Federation (his deputy) or at the request of at least three members of the Board of Directors. Meetings are chaired by the Chairman of the Central Bank of the Russian Federation, and in case of his absence - by a person replacing him from among the members of the Board of Directors. Heads of territorial institutions of the Central Bank of the Russian Federation may be invited to participate in the meetings. The Board of Directors performs the following functions:
1) in cooperation with the Government of the Russian Federation develops a draft of the main directions of the unified state monetary policy and the main directions; submits these documents to the National Banking Council, as well as to the President of the Russian Federation, the Government of the Russian Federation and the State Duma;
2) ensures the implementation of the main directions of the unified state monetary policy;
3) approves the annual financial statements of the Central Bank of the Russian Federation, considers the audit report on the annual financial statements and the conclusion of the Accounts Chamber of the Russian Federation based on the results of the audit of the accounts and operations of the Central Bank of the Russian Federation, submits these materials as part of the annual report of the Central Bank of the Russian Federation to the National Banking Council and the State Duma;
4) approves the report on the activities of the Central Bank of the Russian Federation, prepares an analysis of the state of the economy of the Russian Federation and submits these materials as part of the annual report of the Central Bank of the Russian Federation to the National Banking Council and the State Duma;
5) consider and submit to the National Banking Council for approval (with calculations and justifications no later than December 1 of the previous year) the total volume:
Expenses for the maintenance of employees of the Central Bank of the Russian Federation;
Expenses for pensions, life insurance and medical insurance of employees of the Central Bank of the Russian Federation;
Capital investments of the Central Bank of the Russian Federation;
Other administrative and economic expenses of the Central Bank of the Russian Federation;
6) considers (if necessary) and submits to the National Banking Council proposals for additional expenses with calculations and justifications;
7) approves the cost estimate (estimate of additional expenses) of the Central Bank of the Russian Federation, based on the total volume of expenses of the Central Bank of the Russian Federation approved by the National Banking Council, no later than December 31 of the previous year;
8) establish forms and amounts of remuneration for the work of the Chairman of the Central Bank of the Russian Federation, members of the Board of Directors, deputies of the Chairman and other employees of the Central Bank of the Russian Federation;
9) makes decisions:
On the creation (reorganization and liquidation) of organizations of the Central Bank
On the establishment of mandatory standards for credit institutions and banking groups;
On the amount of reserve requirements;
About change interest rates TSB RF;
Determination of limits for operations on the open market;
Participation in international organizations;
Participation (membership) of the Central Bank of the Russian Federation in the capital of organizations (organizations) that ensure the activities of the Central Bank of the Russian Federation, its institutions, organizations and employees;
On the purchase and sale of real estate to ensure the activities of the Central Bank of the Russian Federation and its organizations (gives permission for the price and other conditions for concluding a transaction);
Application of direct quantitative restrictions;
Issuance of banknotes and coins of the Central Bank of the Russian Federation of a new sample, on the withdrawal from circulation of banknotes and coins of the Central Bank of the Russian Federation of the old sample;
the procedure for the formation of reserves by credit institutions;
10) submit proposals to the State Duma on changing the amount of the authorized capital of the Central Bank of the Russian Federation;
11) approve the procedure for the work of the Board of Directors;
12) submit to the National Banking Council for appointment a candidate for the chief auditor of the Central Bank of the Russian Federation;
13) approves the structure of the Central Bank of the Russian Federation, regulations on structural subdivisions and institutions of the Central Bank of the Russian Federation, charters of organizations of the Central Bank of the Russian Federation, the procedure for appointing heads of structural subdivisions and organizations of the Central Bank of the Russian Federation;
14) in accordance with federal laws determine the conditions for the admission of foreign capital to the banking system of the Russian Federation;
15) approves the list of positions of employees of the Central Bank of the Russian Federation;
16) establishes the rules for conducting banking operations, accounting and reporting rules for the banking system of the Russian Federation, with the exception of the Central Bank of the Russian Federation;
17) prepare and submit to the National Banking Council for approval:
Proposals on accounting and reporting rules for the Central Bank of the Russian Federation;
Proposals on the procedure for the formation of provisions of the Central Bank of the Russian Federation and the procedure for distributing the profit of the Central Bank of the Russian Federation remaining at the disposal of the Central Bank of the Russian Federation;
Report on the expenses of the Central Bank of the Russian Federation for the maintenance of employees of the Central Bank of the Russian Federation, pensions, life insurance and medical insurance for employees of the Central Bank of the Russian Federation, capital investments and other administrative and economic needs.
The Bulletin of the Bank of Russia officially publishes (within ten days from the date of adoption) decisions of the Board of Directors on the following issues:
Changes in interest rates;
The amount of reserve requirements;
The amount of mandatory ratios for credit institutions and banking groups;
Direct quantitative restrictions;
Participation (membership) of the Central Bank of the Russian Federation in the capital of organizations (organizations) that ensure the activities of the Central Bank of the Russian Federation, its organizations and employees;
Issue of banknotes and coins of the Central Bank of the Russian Federation of a new sample;
Withdrawal from circulation of banknotes and coins of the Central Bank of the Russian Federation of the old sample;
The procedure for the formation of reserves by credit institutions.
Territorial institutions of the Central Bank of the Russian Federation:
Are not legal entities;
Cannot make normative decisions;
Not entitled to issue (without the permission of the Board of Directors bank guarantees and guarantees, bills of exchange and other obligations.
Their tasks and functions are determined by the Regulations on the territorial institutions of the Central Bank of the Russian Federation, approved by the Board of Directors. By decision of the Board of Directors, they can be created in regions that unite the territories of several constituent entities of the Russian Federation. The territorial institutions of the Central Bank of the Russian Federation are also the National Banks of the republics within the Russian Federation. Field institutions of the Central Bank of the Russian Federation are intended for banking services.
Lecture 14 Structure and functions of the Bank of Russia
14.1 Structure of the Bank of Russia
14.2 Functions of the Central Bank
By organizational structure The Bank of Russia is a single centralized system with a vertical management structure. The structure of the Bank of Russia includes the National Banking Council, the chairman of the Bank of Russia, the board of directors, the central office, territorial offices, cash settlement centers and other organizations, including computer centers, field institutions and educational institutions.
According to new edition of the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)", the supreme governing body of the Bank of Russia is National Banking Council(until July 2002, the board of directors was the supreme governing body, and the National Banking Council performed only advisory and expert functions). The competence of the National Banking Council includes:
approval of the total amount of administrative and business expenses and a report on their execution, the volume of capital investments, accounting and reporting rules for the Bank of Russia, the procedure for distributing profits remaining at the disposal of the Bank of Russia;
resolving issues related to the participation of the Bank of Russia in the capital of credit institutions; appointment of the chief auditor of the Bank of Russia, determination audit organization– auditor of the annual financial statements of the Bank of Russia;
submission to the State Duma of proposals on conducting an audit by the Accounts Chamber of the Russian Federation of the financial and economic activities of the bank and its structural divisions;
consideration of the project and the main directions of monetary policy, issues of improving the banking system, as well as information on the main issues of the bank's activities.
The number of the National Banking Council is 12 people appointed for four years, of which two are sent by the Federation Council, three by the State Duma, three by the President, three by the Government. The Council also includes the Chairman of the Bank of Russia, who is appointed by the State Duma on the proposal of the President of the Russian Federation. The same person cannot hold the position of the Chairman of the Bank of Russia more than three terms in a row. The Chairman is the highest official of the Bank of Russia and bears full responsibility for its activities.
The law limits the competence board of directors in the field of administrative and economic management, leaving behind it the authority to resolve issues that relate to the functions of the Central Bank as a body of control over money circulation and a guarantor of the stability of the financial system. The Board of Directors develops and ensures the implementation of the main directions of monetary policy. Its powers include decision-making:
on determining the limits of operations on the open market;
on changes in interest rates of the Bank of Russia;
on the amount of reserve requirements;
on the application of direct quantitative restrictions;
on the establishment of mandatory standards for credit institutions and banking groups;
on the procedure for the formation of reserves by credit institutions.
Central office includes 22 departments, each of which is a functional unit in the main areas of activity. The number of employees of the central office is more than 2.5 thousand people. It is they who analyze economic events, the state of the banking sector, predict the impact of possible changes in monetary policy, and are responsible for implementing the decisions of the board of directors and the chairman of the Bank of Russia.
To territorial branches of the Bank of Russia include 69 main departments and 19 national banks. These are separate divisions that carry out part of the functions of the Bank of Russia on the territory of the constituent entities of the Russian Federation. Territorial institutions organize monetary circulation, supervision and control, and conduct economic analysis.
Cash settlement centers are part of the territorial branches of the Bank of Russia. They carry out interbank payments and settlements, carry out cash services for banks and settlement and cash services for accounts of budgets of all levels and bodies of the federal treasury of the Ministry of Finance, state extra-budgetary funds. The relationship of cash settlement centers with customers is built on a contractual basis. The head cash settlement centers perform, in addition to those mentioned, some additional operations, for example, they carry out settlements based on the results of operations on the organized securities market.
Field institutions of the Bank of Russia designed for banking military units, institutions and organizations of the Ministry of Defense and other security agencies. Like territorial institutions, they are not legal entities, but unlike the latter, they are military institutions, staffed by military personnel and approved by a joint decision of the Bank of Russia and the Ministry of Defense of the Russian Federation. Their functions are limited to settlement and cash services and some other banking operations.
The structure of the Bank of Russia also includes other organizations that ensure its activities:
13 banking schools;
educational and methodological center and staff training center;
security units and the Russian collection association.
Functions of the Bank of Russia
Functions for the organization and regulation of monetary circulation.
The Central Bank of the Russian Federation is responsible for:
1) forecasting and organization of production, transportation and storage of banknotes and coins, creation of their reserve funds;
2) establishment of rules for the storage, transportation and collection of cash for credit institutions;
3) establishing signs of the solvency of banknotes and the procedure for replacing damaged banknotes and coins, as well as their destruction;
4) determination of the procedure for conducting cash transactions for all enterprises and organizations;
5) development and implementation in cooperation With the Government of the Russian Federation of a unified state monetary policy aimed at protecting and ensuring the stability of the ruble;
6) establishment of rules for the implementation of both cash and non-cash payments in the Russian Federation.
To influence the monetary circulation, the Central Bank of the Russian Federation currently uses the following tools:
interest rates on loans and deposits of the Central Bank of the Russian Federation;
the volume of lending to commercial banks and the volume of raising funds for deposits of the Central Bank of the Russian Federation;
norms of required reserves deposited with the Central Bank. The standards are set as a percentage of the average daily balances on the settlement, current, deposit and other client accounts of legal entities and individuals for the past month and are paid from the funds on the correspondent account commercial bank to a special reserve account with the Central Bank of the Russian Federation at the beginning of each month. The maximum required reserve ratio cannot exceed 20%. A one-time change in the standard by more than 5 points is not allowed.
7) transactions for the purchase and sale of securities on the open market;
8) setting specific benchmarks for the growth of the money supply;
9) operations for the purchase and sale of foreign currency for rubles on foreign exchange market.
Functions for servicing the Government of the Russian Federation
Implementing in practice the second group of functions, the Central Bank of the Russian Federation maintains accounts for accounting for budgetary funds and provides banking services for maintaining accounts and making settlements for a number of budgetary organizations, primarily Federal Treasury. Until recently, the Central Bank of the Russian Federation was entrusted with the cash execution of the budget, which has now been transferred to the Federal Treasury.
According to Article 22 of the Federal Law "On the Central Bank of the Russian Federation", the Bank of Russia not entitled provide loans to the Government of the Russian Federation to finance the budget deficit, buy government securities with their initial placement, with the exception of cases provided for by the Federal Law on the Federal Budget. The Central Bank of the Russian Federation is also not entitled to provide loans to finance the budget deficits of the constituent entities of the Russian Federation, local budgets and budgets of state off-budget funds.
The Central Bank of the Russian Federation is an agent of the Government of the Russian Federation in the government securities market. His responsibilities include regulating the market and timely repayment of state debt obligations at the expense of funds allocated from the budget, as well as advising the Ministry of Finance on the issuance and placement of government securities.
Functions for servicing commercial banks
To carry out settlement and cash services, the Central Bank opens accounts for commercial banks. From these accounts, called correspondent, funds are debited in favor of other banks and funds are credited in favor of account holders or their clients. For settlements, banks keep a certain working balance on correspondent accounts. In case of lack of funds, they resort to loans from other banks or the Central Bank of the Russian Federation.
The Central Bank is the lender of last resort for credit institutions. It provides them with several types of loans. Regular lending is secured by securities included in the Lombard List. However, by decision of the Board of Directors, government securities that are not included in the list may also be accepted as collateral.
To obtain a loan, securities are blocked on a special account with a depository. Market price securities, adjusted by the adjustment factor, should cover the amount of the loan and interest on it. Interest on the amount of the principal debt is calculated according to the simple interest formula for the period of actual use of the loan, based on the number of calendar days in a year.
Only a bank that fully complies with the mandatory reserve requirements and does not have overdue debt on Central Bank loans can apply for a loan. With sufficient collateral and compliance with the requirements of the Central Bank of the Russian Federation, a bank can receive several types of loans:
pawn loans;
one-day overdrafts(overnight credits);
intraday loans
stabilization loans.
bank loans.
In addition to direct lending to commercial banks, the Bank of Russia provides four bills. Only bills drawn up on a standard form in accordance with the requirements approved by the decision are accepted for rediscounting. general meeting member representatives Associations of bill market participants, with a term "for a certain day", the issuers of which are exporting organizations included in the list approved by the Central Bank. The term of payment under the bill must not exceed by more than one month the term of the last payment under the export contract.
The exporting organization issues a bill of exchange in the name of the accounting bank. To obtain the status of an accounting bank must meet certain requirements.
To regulate the rediscount, the Central Bank establishestwo limits:
1) rediscount limit per accounting bank - the maximum amount that can be transferred by the Central Bank to the accounting bank when purchasing bills. The limit is restored if bills are redeemed or sold;
2) limit on an export contract - a percentage of the amount of an export contract in foreign currency, within which the Central Bank rediscounts bills of exporting organizations. Recalculation into rubles is carried out at the official exchange rate valid on the date of drawing up the bill.
REPO operations apply to dealer-credit organizations that, over the past three months, have been classified as financially stable banks that have concluded a General Agreement with the Central Bank on participation in REPO operations with GKO - OFZ and have their own portfolio core releases GKO - OFZ at least 40 million rubles. at market value. REPO transactions can only be concluded for terms of 1, 2, 7 and 14 days.
Deposit operations of the Central Bank of the Russian Federation. In order to regulate the liquidity of the banking system and maintain stability in the foreign exchange market, since February 1996, the Central Bank has been carrying out deposit operations in the national currency.
Currently, the Central Bank carries out the following types of deposit operations:
deposit auctions;
deposit operations at a fixed interest rate;
acceptance on deposit of funds from banks that have concluded a General Agreement with the Central Bank on conducting deposit operations in rubles;
acceptance of bank funds on deposit on the basis of a separate agreement that determines the terms of the deposit.
In order to have the right to place funds in deposits on the accounts of the Central Bank, commercial banks must meet the following requirements:
must be attributed to at least the third group of problems for the last three reporting dates;
comply with the mandatory reserve requirements of the Central Bank;
not have overdue monetary obligations to the Central Bank during the last 90 days;
not have violations of banking legislation and (or) regulations of the Central Bank during the last 90 days.
The Central Bank suspends deposit operations with commercial banks if they no longer meet the specified requirements.
Deposit auctions are held by the Central Bank of the Russian Federation as an interest tender for contracts with the Central Bank setting the maximum initial interest rate according to the American or Dutch method.
When the Central Bank conducts a deposit operation at a fixed interest rate, banks that intend to transfer funds to a deposit send an application for placing a deposit.
In order to implement monetary policy, the Central Bank may, on its own behalf, carry out issue of bonds placed and traded only among credit institutions. size limit the total nominal value of the Central Bank bonds of all issues not redeemed as of the date the Board of Directors took a decision on the next issue of the Central Bank bonds is set as the difference between the maximum possible amount of required reserves of credit institutions and the amount of required reserves of credit institutions determined on the basis of the current required reserve ratio.
Central Bank bonds are short-term equity securities. Income is the difference between the par value and the purchase price of a bond.
Supervisory and control functions of the Central Bank of the Russian Federation
The Central Bank of the Russian Federation carries out state registration of credit institutions and issues licenses to credit institutions for banking operations, establishes the rules for conducting banking operations, accounting and reporting for the banking system.
The Central Bank of the Russian Federation issues the following types of licenses to commercial banks:
1) banking license, which gives the right to conduct basic banking operations, except for accepting deposits from individuals, working with currency and precious metals;
2) license to accept deposits from the public. To obtain a license that gives the right to accept deposits from the public, the bank must have successfully worked for at least two years;
3) currency license;
4) license to conduct operations with precious metals.
A bank that has a license to carry out all banking operations with funds in rubles and foreign currency may be issued General license. A bank holding a General License is entitled to establish branches abroad in accordance with the established procedure and (or) acquire stakes (shares) in the charter capital of non-resident credit institutions. When considering the issue of issuing a General License to a bank, a comprehensive inspection check of this bank is carried out.
The control of the Central Bank of the Russian Federation over the activities of credit institutions is carried out on the basis of monthly submission of various kinds of reports, reflecting all aspects of the life of the bank, from the balance sheet to the structure of the loan portfolio.
In order to ensure the economic conditions for the stable functioning of the banking system of the Russian Federation, to protect the interests of depositors and creditors, the Central Bank of the Russian Federation establishes performance standards for commercial banks.
Control over observance by banks of mandatory standards is assigned to the territorial institutions of the Central Bank at the place of opening a correspondent bank account. The control is carried out on the basis of the monthly balance sheets of banks, which are accompanied by certificates with calculations of the actual values of mandatory ratios and decoding of individual balance sheets.
In order to improve supervision and timely identification of problem banks, the Central Bank has determined the criteria for banks to be problematic. According to the instructions of the Central Bank, all credit institutions in terms of financial condition are divided into two categories with the allocation within each category of two classified groups:
group 1 - credit institutions without shortcomings in their activities;
group 2 - credit institutions with certain shortcomings in their activities;
group 3 - credit institutions experiencing serious financial difficulties;
group 4 - credit institutions in a critical financial situation.
The choice of measures of influence is made by the supervisory authorities, taking into account the nature of the violations: the reasons that caused the violations; the general financial condition of the bank; position of the bank in the market of banking services.
1. Preventive action. They are used when shortcomings in the bank's activities do not directly threaten the interests of creditors and depositors, mainly in the early stages of the occurrence of shortcomings. Preventive measures include: bringing information to the bank's management bodies about the shortcomings of its activities and the concerns of the supervisory authority; recommendations from the supervisory authority; a proposal to submit a program of action to eliminate deficiencies; establishment of additional control.
2. coercive measures. The basis for their application are violations of banking legislation, regulations and instructions of the Central Bank, failure to provide information, provision of incomplete or inaccurate information, as well as the presence of a real threat to the interests of customers and creditors. Coercive measures include: fines, restriction of certain operations for up to six months, a ban on operations under a license for up to one year, a requirement to replace the head of the bank, the introduction of a temporary administration, and the withdrawal of a banking license.
The basis for the appointment of an interim administration is the presence of exceptionally serious violations in the activities of the bank or the existence of grounds for revoking its license.
Currency regulation and currency control
The Central Bank of the Russian Federation establishes the rules for conducting foreign exchange transactions, the reporting forms provided by participants in foreign exchange transactions, the rules for the sale and purchase of both cash and non-cash currency, its import and export.
Subsequently, in addition to issuing banknotes, the role of the state treasurer, intermediary between the state and commercial banks, and conductor of the state's monetary policy was assigned to the Central Banks. Central banks, created on the basis of commercial banks, were then nationalized. Currently, their capital is fully or partially owned by the state.
The creation of the Central Bank of Issue was due to the processes of concentration and centralization of capital, the transition to a single national monetary system.
All developed countries have laws that fix the tasks and functions of the Central Bank, as well as define the tools and methods for their implementation. In some states, the main task of the Central Bank is legally enshrined in the Constitution. Usually the main legal act regulating the activities of the national bank, is the law on the Central Bank of the country. It establishes the organizational and legal status of the central bank, the procedure for appointing or electing its leadership, the procedure for relations with the state and the national banking system. This law defines the powers of the Central Bank as the issuing center of the country and its other duties.
Along with the law on the Central Bank, the interaction between the Central Bank and credit institutions is regulated by the law on banking activity, which defines the basic rights and obligations of credit institutions in relation to the Central Bank.
To determine the role of the Central Bank in the economic and political processes in the country, the degree of its independence is very important. Economic independence usually means the ability of the Central Bank to use the instruments at its disposal without significant restrictions. The degree of political independence of the Central Bank is determined by the level of independence in its relations with the authorities in the selection and implementation of monetary policy.
Central banks are the regulator in banking system therefore, the main goals of their activities are to strengthen monetary circulation, protect and ensure the sustainability of the national monetary unit and its exchange rate in relation to foreign currencies, development and strengthening of the banking system of the country, ensuring efficient and uninterrupted settlements.
Traditionally, the Central Bank has to solve five main tasks - it is designed to be:
1) the emission center of the country, i.e. enjoy the monopoly right to issue banknotes;
2) the body regulating the economy by monetary methods, i.e. conduct monetary and foreign exchange policy;
In most countries, these tasks of central banks are enshrined in legislation, especially the first two are the most important.
As a "bank of banks", the Central Bank provides credit institutions with the opportunity to refinance. At the same time, according to the law, the central bank has the right to limit the commercial banks of the country in credit funds. The two most common types of central bank transactions credit institutions: buying and selling checks and bills, including treasury bills; pledge operations with securities, bills of exchange and payment claims. When solving the five named tasks, the Central Bank performs certain functions. In domestic and foreign literature there is no unambiguous approach to defining the functions of central banks. In some sources there are more than 10 of them, in others - only one (in the current Constitution of the Russian Federation). In this regard, it seems appropriate from the variety of functions of central banks to single out the main (main responsibilities), without which it is impossible to achieve the main goal - maintaining the stability of the national currency, and additional (filling in the rest of the range of responsibilities), contributing to the achievement of this main goal.
2. Establishment of the Central Bank of the Russian Federation (Bank of Russia)
The Central Bank of the Russian Federation (Bank of Russia) was established on July 13, 1990 on the basis of the Russian Republican Bank of the State Bank of the USSR. Accountable to the Supreme Soviet of the RSFSR, it was originally called the State Bank of the RSFSR.
On December 2, 1990, the Supreme Council of the RSFSR adopted the Law on the Central Bank of the RSFSR (Bank of Russia), according to which the Bank of Russia was a legal entity, 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 organization of money circulation, monetary regulation, foreign economic activity and regulation of the activities of joint-stock and cooperative banks.
In June 1991, the Charter of the Central Bank of the RSFSR (Bank of Russia), accountable to the Supreme Soviet of the RSFSR, was approved.
In November 1991, in connection with the formation of the Commonwealth of Independent States and the abolition of union structures, the Supreme Council of the RSFSR declared the Central Bank of the RSFSR the only body in the territory of the RSFSR state monetary and foreign exchange 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. Until January 1, 1992, the Central Bank of the RSFSR was instructed 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.
On December 20, 1991, the State Bank of the USSR was abolished and all its assets and liabilities, as well as property on the territory of the RSFSR, were transferred to the Central Bank of the RSFSR (Bank of Russia). A few months later, the bank became known as the Central Bank of the Russian Federation (Bank of Russia).
During 1991-1992, under the leadership of the Bank of Russia, a wide network of commercial banks was created in the country on the basis of the commercialization of branches of special banks. After the abolition of the State Bank of the USSR, the system of accounts was changed, a network of cash settlement centers (RCC) of the Central Bank was created, and their computerization began. The Bank of Russia began to carry out the purchase and sale of foreign currency on the foreign exchange market organized by it, to establish and publish official quotations of foreign currencies against the ruble.
Since December 1992, the process of transferring the functions of cash execution by the Bank of Russia state budget newly created Federal Treasury.
The bank performs its functions defined by the Constitution of the Russian Federation and the Law "On the Central Bank of the Russian Federation (Bank of Russia)" independently of federal government bodies, government bodies of the subjects of the Federation and local governments.
In 1992-1995, in order to maintain the stability of the banking system, the Bank of Russia created a system of supervision and inspection of commercial banks, as well as a system of currency regulation and currency control. As an agent of the Ministry of Finance, the Bank of Russia organized the government securities market (GKO) and began to take part in the functioning.
Since 1995, the Bank of Russia has stopped using direct loans to finance the deficit federal budget and ceased to provide targeted centralized loans to sectors of the economy.
In order to overcome the consequences financial crisis In 1998, the Bank of Russia pursued a policy of restructuring the banking system, aimed at improving the work of commercial banks and increasing their liquidity. Within the framework established by law from the market banking services bankrupt banks were taken out. Of great importance for the recovery of banking activity in the post-crisis period was also the creation of the Agency for the Restructuring of Credit Organizations (ARCO) and the Interdepartmental Coordinating Committee for Assistance to the Development of Banking in Russia (ICC). As a result of the effective actions of the Bank of Russia, ARCO and MCC, the banking sector of the economy in mid-2001 largely overcame the consequences of the crisis.
The monetary policy of the Bank of Russia was focused on maintaining financial stability and creating prerequisites to ensure the sustainability of the country's economic growth. The Bank of Russia responded flexibly to changes in the real demand for money, helped to maintain the growing dynamics of the economy, lower interest rates, inflation expectations and inflation rates. This led to some strengthening of the real exchange rate of the ruble and stability financial markets. As a result of a prudent monetary policy and the exchange rate policy pursued by the Bank of Russia, the gold and foreign exchange reserves of the Russian Federation increased, no sharp fluctuations exchange rate.
Activities of the Bank of Russia in the field of development payment system was aimed at increasing its reliability and efficiency to ensure the stability of the financial sector and the country's economy. In order to increase information transparency in the functioning of the payment system, the Bank of Russia introduced reporting by credit institutions and the Bank's territorial branches on payments, which took into account international experience, methodology and practice of monitoring payment systems.
In 2003, the Bank of Russia launched a project to improve banking supervision and reporting by introducing a system international standards(IFRS).
It is envisaged to implement a set of measures, including ensuring reliable accounting and reporting of credit institutions, raising the requirements for the content, volume and frequency of published information, implementing accounting and reporting approaches recognized as advanced international practice. In addition, information about the real owners of credit institutions, control over their financial condition, as well as increased requirements for officials of a credit institution and their business reputation will be disclosed.
The Bank of Russia pays special attention to a number of problems. One of them is related to the fact that in recent years more and more important role begin to play specific risks associated with the dynamics of prices for individual financial assets and real estate market conditions. The practice of lending to related parties results in a high risk concentration for a number of banks. In this regard, the improvement by the Bank of Russia of methods banking regulation and supervision is moving towards the development of meaningful (risk-oriented) banking supervision.
Another problem that the Bank of Russia pays special attention to is the fictitious capitalization of banks.
In order to counter the use by banks of various kinds of schemes to artificially increase or underestimate the value of mandatory ratios, in 2004 the Bank of Russia adopted a number of documents, including the Regulation "On the procedure for the formation of reserves for possible losses by credit organizations" and the Instruction "On mandatory standards banks".
In connection with the expansion of the range of credit institutions providing mortgage loans to the population, in 2003 the Bank of Russia issued an Ordinance "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 organizations.
With the adoption of the Federal Law "On Mortgage securities"credit institutions that ensure compliance with the requirements for protecting the interests of investors have received a legislatively fixed opportunity to refinance their claims under mortgage loans through the issuance of these securities.
In 2004, on the basis of the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)" and the Federal Law "On Mortgage Securities", the Bank of Russia issued an Instruction "On Mandatory Ratios for Credit Institutions Issuing Mortgage-Backed Bonds", in which it established specific features calculation and values of mandatory ratios, the amount and methodology for determining additional mandatory ratios of credit institutions that issue mortgage-backed bonds.
In December 2003, the Federal Law "On Insurance of Individuals' Deposits in Banks of the Russian Federation" was adopted. It determined the legal, financial and organizational foundations for the functioning of the system of compulsory insurance of deposits of individuals in banks of the Russian Federation, as well as the competence, procedure for the formation and activities of an organization that performs the functions of compulsory insurance deposits, the procedure for paying compensation on deposits.
Currently, the vast majority of banks participate in the deposit insurance system. Almost 100 percent of all deposits of individuals placed in banking institutions Russian Federation.
In April 2005, the Government of the Russian Federation and the Central Bank of the Russian Federation adopted the "Strategy for the Development of the Banking Sector of the Russian Federation for the period up to 2008".
Reforming the banking sector will contribute to the implementation of the program for the socio-economic development of the Russian Federation in the medium term, primarily to overcome the raw material orientation of the Russian economy through its accelerated diversification and the realization of competitive advantages.
At the next stage (2009-2015), the Government of the Russian Federation and the Bank of Russia will consider the effective positioning of the Russian banking sector in the international financial markets as a priority.
3. Organizational and functional structure Bank of Russia
The Central Bank of the country is the main conductor of monetary policy aimed at stabilizing monetary circulation. His primary responsibility is market economy- protect value and purchasing power money and create normal conditions for the functioning of financial markets.
The emergence of central banks is associated with the need to centralize bank emission and organize money circulation in the country, conduct a credit policy throughout the national economy and the functioning of the monetary settlement system, as well as the need to protect and ensure the stability of national currencies.
In accordance with this task, the Central Bank is constantly searching for optimal methods and management tools, combining both direct administrative and indirect methods of regulating the activities of commercial banks and other credit institutions. Protecting and ensuring the stability of the ruble, the Central Bank regulates the aggregate money supply, on the dynamics of which the change in various components of the total effective demand depends. By developing and strengthening the banking system of Russia, the Central Bank effectively influences the economic activity and activities of banking institutions, primarily commercial banks. Through this system, he ensures the efficient and uninterrupted functioning of the settlement system.
One of the objects of management and at the same time its tool is organizational structure jar. A correctly chosen organizational structure for building a bank, its timely transformation in accordance with changing internal and external factors are important, mandatory conditions full implementation by the bank of its strategy, its effective activity today and in the future.
The organizational structure is a vertical section of the bank's structure, including a hierarchy (subordination of its divisions).
The Central Bank of the Russian Federation forms a single centralized system with a vertical management structure.
The Bank of Russia system includes the central office (CA), territorial offices (GU (NB)), cash settlement centers (RCC, GRCC), computer centers (CC), field institutions (PU), educational institutions and other organizations, including including the security unit and the Russian Collection Association, which are necessary for the implementation of the activities of the Bank of Russia.
Organizational structure of the Central Bank of the Russian Federation:
Ø Head office: 12 members of the Board of Directors of the Central Bank of the Russian Federation;
Ø 59 main departments;
Ø 20 national banks;
Ø 631 cash settlement centers;
Ø 6 banking schools;
Ø Educational and Methodological Center;
Ø 2 staff training centers;
Ø Interregional Training Center of the Bank of Russia.
3.1 Governing bodies of the Bank of Russia
The supreme body of the Bank of Russia is the Board of Directors, a collegiate body that determines the main areas of activity of the Bank of Russia and exercises leadership and management of the Bank of Russia.
Members of the Board of Directors are appointed for a term of 4 years by the State Duma on the proposal of the Chairman of the Bank of Russia, agreed with the President of the Russian Federation. Members of the Board of Directors are dismissed before the expiration of the specified term also by the State Duma.
Members of the Board of Directors cannot be deputies (members) of legislative (representative) authorities, as well as members of the Government of the Russian Federation; cannot be members of political parties, hold positions in socio-political and religious organizations.
The Chairman of the Bank of Russia or a person replacing him presides at meetings of the Board of Directors.
Decisions of the Board of Directors are taken by a majority of votes of those present, with a quorum of seven people and the obligatory presence of the Chairman of the Bank of Russia or a person replacing him. The Chairman of the Bank of Russia has a casting vote.
Meetings of the Board of Directors are held at least once a month.
The Board of Directors performs the following functions:
1) in cooperation with the government of the Russian Federation develops and ensures the implementation of the main directions of the unified state monetary policy;
2) approve the annual report of the Bank of Russia and submit it to the State Duma;
3) considers and approves the estimate of expenses of the Bank of Russia for the next year, as well as expenses incurred that are not provided for in the estimate;
4) determine the structure of the Bank of Russia;
5) makes decisions:
o on the creation and liquidation of institutions and organizations of the Bank of Russia;
o on establishing mandatory standards for credit institutions;
o on the amount of reserve requirements;
o on changes in interest rates of the Bank of Russia;
o on setting limits for operations on the open market;
o participation in international organizations;
o on participation in the capital of organizations supporting the activities of the Bank of Russia, its institutions, organizations and employees;
o on the purchase and sale of real estate to support the activities of the Bank of Russia, its institutions, organizations and employees;
o on the application of direct quantitative restrictions;
o on the issue and withdrawal of banknotes and coins from circulation, on the total volume of cash issuance;
o on the procedure for the formation of reserves by credit institutions;
6) approves the internal structure of the Bank of Russia;
7) determine the conditions for the admission of foreign capital to the banking system of the Russian Federation in accordance with federal laws.
In order to improve the monetary system of the Russian Federation, the National Banking Council is being created at the Bank of Russia. This body, unlike the Board of Directors, is advisory. Its composition, size, work procedure and main functions are reflected in Articles 20 and 21 of the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)", as well as in the Regulations on the National Banking Council under the Central Bank of the Russian Federation (Bank of Russia), approved on April 24 .97 d. The National Banking Council consists of representatives of the chambers of the Federal Assembly of the Russian Federation, the President of the Russian Federation, the Government of the Russian Federation, the Bank of Russia, credit institutions, and experts.
The Minister of Finance of the Russian Federation and the Minister of Economy of the Russian Federation are ex officio members of the National Banking Council. The number of the National Banking Council does not exceed 15 people. Meetings are held at least once every three months.
The National Banking Council performs the following functions:
· considers the concept of improving the banking system of the Russian Federation;
· considers the drafts of the main directions of the unified state, monetary and credit policy, the policy of currency regulation and currency control, gives opinions on them and analyzes the results of their implementation;
· carries out examination of projects of legislative and other normative legal acts in the field of banking;
· considers the most important issues of regulation and supervision of the activities of credit institutions;
· participates in the development of the basic principles of organization of the settlement system in the Russian Federation.
The Chairman of the National Banking Council is the Chairman of the Bank of Russia.
The Chairman of the Bank of Russia is appointed by the State Duma on the proposal of the President of the Russian Federation for a term of four years. The same person cannot hold the position of the Chairman of the Bank of Russia for more than three consecutive terms.
The Chairman of the Bank of Russia may be dismissed by the State Duma only in the following cases:
expiration of the term of office;
impossibility of execution official duties, confirmed by the conclusion of the state medical commission;
filing a personal resignation letter;
the commission of a criminal offense;
· Violations of federal laws regulating the activities of the Bank of Russia.
· In accordance with the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)", the Chairman of the Bank of Russia has the following powers:
· acts on behalf of the Bank of Russia and represents its interests without a power of attorney;
· chair meetings of the Board of Directors;
· signs the regulations of the Bank of Russia and other documents;
· appoints and dismisses deputy chairmen of the Bank of Russia, distributes duties among them;
· signs orders and gives instructions that are obligatory for all employees of the Bank of Russia, its enterprises, institutions and organizations;
bears full responsibility for the activities of the Bank of Russia;
· ensures the implementation of the functions of the Bank of Russia in accordance with the law.
The functional structure implies the existence in the bank of separate divisions (departments, departments) that implement the functions of the bank in accordance with the division of its activities into separate parts. If the volumes of tasks solved by these departments are large enough, then additional, smaller ones can be created inside them. structural units(departments).
The concepts of organizational and functional structures are closely interrelated, but there are also significant differences. Thus, the functional structure is a horizontal slice of the bank's structure and does not contain a hierarchy (subordination).
3.3 Structural divisions of the Central Bank of the Russian Federation
The central office of the Bank of Russia includes departments and main departments, which are functional divisions in the main areas of activity.
Currently, the structure of the Central Bank of the Russian Federation has 26 departments and divisions:
Consolidated economic department
Department of research and information
Department of cash circulation
Department of regulation, management and monitoring of the payment system of the Bank of Russia
Department of settlements regulation
Department of Accounting and Reporting
· Department of Licensing Activities and Financial Recovery of Credit Institutions
Department of banking regulation and supervision
Main inspection of credit organizations
Department of Operations in Financial Markets
Department for ensuring and controlling operations in financial markets
Department of financial monitoring and currency control
Department of balance of payments
Department of Methodology and Organization of Service of Accounts of Budgets of the Budgetary System of the Russian Federation
· Legal department
Department of field institutions
Department of information systems
· Finance Department
Department internal audit and revisions
Department of International Financial and Economic Relations
Department of external and public relations
· Administrative department
Main Directorate of Real Estate of the Bank of Russia
Main department of expertise and planning capital costs Bank of Russia
General Directorate of Security and Information Protection
This structure is designed to ensure the effective implementation of legislative initiatives in the work of the Central Bank and the entire banking system, speed up decision-making and improve their validity, strengthen existing and create new channels of interaction between the Bank of Russia, legislative and executive government bodies, as well as territorial government bodies.
The divisions of the Bank of Russia constitute the central office of the Bank of Russia. The structure of the central office and the regulation on each of its divisions are approved by the Board of Directors of the Bank of Russia. For each of the structural divisions, a corresponding regulation is adopted, which is also approved by the Board of Directors.
Consider the functions and tasks of some of them:
The Department for Licensing Activities and Financial Recovery of Credit Institutions is a structural unit of the Bank of Russia that ensures that the Bank of Russia performs the functions of state registration of credit institutions and the issuance of licenses to credit institutions and organizations involved in their audit. The main task of the department is to supervise compliance with the requirements of the legislation of the Russian Federation and Bank of Russia regulations by credit institutions at the stage of registration and licensing.
The Research and Information Department occupies one of the leading places in the structure of the Bank of Russia, since the results of its work are the basis for the formation of banking policy and the development of prospects for its development. Its functions include:
firstly, an analysis of current trends, and not only in banking, but also in the economy as a whole, since one of the tasks of any central bank is to stimulate economic growth on a stable basis;
secondly, forecasting the economic situation in the monetary system and, on the basis of this, drawing up action programs so that the leadership of the Central Bank of the Russian Federation is aware of the problems that will be faced in the future and can develop methods to overcome them;
thirdly, the creation of an information base for conducting macroeconomic research.
The Department of Field Institutions of the Bank of Russia is a division of the central office of the Central Bank of the Russian Federation, designed to manage the banking activities of field institutions of the Bank of Russia. It is entrusted with:
ü management of subordinate institutions;
ü participation in the organization of cash execution of the budget and off-budget funds;
ü conducting savings, work and analysis in the field institutions of the Bank of Russia;
ü organization of cash operations, forecasting, analysis and provision of payment and cash turnover, issuance and cash operations, operations with the currency of foreign states, their accounting and reporting on them;
ü organization of accounting and reporting, their management;
ü legal support activities;
ü study, selection and placement of officer cadres and civilian personnel;
ü providing field institutions with computers and forms of bank documentation;
ü summarizing and disseminating the best practices of the work of field institutions, organizing the storage of archival documents.
Other functions of field institutions are determined by federal laws and regulations of the Bank of Russia.
The Bank's internal audit department is directly responsible for the Internal Audit and Revision Department, the regulation on which is also approved by the Board of Directors. Among the main tasks of this department:
Ø Ensuring the compliance of financial and business transactions performed in the Bank of Russia with the laws of the Russian Federation and Bank of Russia regulations.
Ø The Department checks the organization of the fulfillment by the institutions of the Bank of Russia of legislative and regulatory acts regulating their activities, checks the performance by them of certain functions and the rules for performing certain operations of the Bank of Russia by conducting audits certain areas (sections) of the Bank of Russia's activities.
Ø In addition, he conducts an independent assessment of information about financial condition of the Bank of Russia as a whole and for its individual institutions, as well as verification of facts related to financial violations committed by employees of the Bank of Russia system.
Ø The Department is doing a lot of methodological work.
The administrative department of the Bank of Russia performs the following tasks:
Ø organizational, documentation, information, and logistical support for the fulfillment by the Bank of Russia of tasks, functions, and powers in accordance with the Constitution of the Russian Federation and federal laws;
Ø organizing and ensuring the efficient operation of the management bodies of the Bank of Russia;
Ø control, within the framework of the powers granted, over the performance of the functions assigned to them by the divisions of the central office and territorial branches of the Bank of Russia;
o Other functions.
In the course of their activities, the departments of the Central Office of the Bank of Russia closely interact with each other. In addition, a number of other divisions function in the central office of the Bank of Russia. Their names reflect the main functions, which are one of the sub-functions of the Bank of Russia.
3.4 Functions of the Bank of Russia
The functions of the Bank of Russia are implemented through the functions of its departments, as well as territorial offices. The Bank of Russia performs its functions primarily through its numerous divisions located throughout Russia.
In accordance with Article 4 of the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)", the Bank of Russia performs the following functions:
In cooperation with the Government of the Russian Federation develops and implements a unified monetary policy;
Monopoly issues cash and organizes cash circulation;
Is a lender of last resort for credit institutions, organizes a system of their refinancing;
Establishes the rules for making settlements in the Russian Federation;
Establishes the rules for conducting banking operations;
Maintains accounts of budgets of all levels, unless otherwise provided by federal laws;
Carries out effective management of gold and foreign exchange reserves of the Bank of Russia;
Makes a decision on state registration, issues licenses to credit institutions for banking operations, suspends their validity and revokes them;
Supervises the activities of credit institutions and banking groups;
Registers the issue of securities by credit institutions in accordance with federal laws;
Carries out independently or on behalf of the Government of the Russian Federation all types of banking operations and other transactions necessary to perform the functions of the Bank of Russia;
Organizes and carries out currency regulation and currency control in accordance with the legislation of the Russian Federation;
Determines the procedure for making settlements with international organizations, foreign states, as well as with legal entities and individuals;
Establishes accounting and reporting rules for the banking system of the Russian Federation;
Establishes and publishes official exchange rates of foreign currencies against the ruble;
Takes part in the development of the forecast of the balance of payments of the Russian Federation and organizes the compilation of the balance of payments of the Russian Federation;
Conducts analysis and forecasting of the state of the economy of the Russian Federation as a whole and by regions, primarily monetary, monetary, financial and price relations, publishes relevant materials and statistical data;
Performs other functions in accordance with federal laws.
Territorial institution of the Central Bank of the Russian Federation (Bank of Russia) - a separate subdivision of the Central Bank of the Russian Federation, which performs part of its functions in the territory of a constituent entity of the Russian Federation in accordance with the Regulation on territorial branches of the Bank of Russia, others regulations Bank of Russia and included in the unified centralized system of the Bank of Russia with a vertical management structure.
The territorial institution has an internal structure and functions that largely repeat the structure and functions of the central office of the Bank of Russia. But in connection with a different scale of activity, there are some differences. The main one is that the scope of competence of the subdivisions of a territorial institution is much narrower if the final decision on a particular issue is made by the Bank of Russia. In these cases, subdivisions of territorial institutions, as a rule, only prepare a decision. The structure of a territorial institution depends on the territory in which it is located, on the number of credit institutions it serves.
Conclusion
Thus, the organizational structure of the Central Bank of Russia is its status, tasks, functions, powers and principles of organizing activities, determined by the Constitution of Russia, Federal Laws, as well as the norms and standards of international law.
The Bank of Russia performs its functions in accordance with the Constitution of the Russian Federation and other federal laws. According to Article 75 of the Constitution of the Russian Federation, the main function of the Bank of Russia is to protect and ensure the stability of the ruble, and money emission is carried out exclusively by the Bank of Russia.
In the banking system of Russia, the Central Bank of the Russian Federation is defined as the main bank of the country and the lender of last resort. It is state-owned and is entrusted with the functions of general regulation of the activities of each commercial bank within the framework of a single monetary system of the country. The Central Bank is called upon to bring their activities in line with the general economic strategy and acts as a key agent of the state monetary policy, while the Central Bank primarily uses economic methods management and only in some cases administrative.
The monetary system is the basis of both the economy and the state as an integral phenomenon. The unity of such a system is natural and implies centralization in the regulation of cash flows. The centralization of the Bank of Russia, ultimately, is due to the fact that the monetary system implements the function of money as a measure of value. And in any action of the Central Bank, one way or another, there are elements interconnected with the implementation of the functions of money. Therefore, the Constitution of the Russian Federation and federal laws regulating the banking system and banking, create all conditions for the independence of the Central Bank at all levels of the exercise of power. According to the requirements of the Constitution and other laws, state authorities and local governments do not have the right to interfere in the activities of the Bank of Russia. At the same time, the very organizational structure of the Bank of Russia is a guarantee of such independence.
Literature
1. The Constitution of the Russian Federation (adopted by popular vote on December 12, 1993). M., 1993.
3. Federal Law "On the Central Bank of the Russian Federation (Bank of Russia) adopted by the State Duma of the Russian Federation on June 27, 2002 No. 86-F3 dated July 10, 2002, as amended on July 19, 2009
4. Decree of the Presidium of the Supreme Council of the RSFSR No. 1483-1 of June 24, 1991 "On Approval of the Charter of the Central Bank (Bank of Russia). Repealed due to the application of Federal Law No. 65-F3 of April 26, 1995
6. Federal Law On Amendments to Certain legislative acts Russian Federation in connection with the adoption of the Federal Law "On Mortgage Securities" Moscow, Kremlin December 29, 2004 No. 192-F3
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14. Bratko A.G. Central bank in the banking system of Russia. – M.: Spark, 2001.
15. Money. Credit. Banks: Proc. for universities / E.F. Zhukov, L.M. Maksimova, A.V. Pechnikov and others; Ed. E.F. Zhukov. Moscow: Banks and exchanges; UNITY, 2003.
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17. www.cbr.ru - the official website of the Central Bank of the Russian Federation.
