On Introducing Changes And Additions Into The Law Of The Rsfsr "on The Central Bank Of The Rsfsr (Bank Of Russia)"

Original Language Title: О внесении изменений и дополнений в Закон РСФСР "О Центральном банке РСФСР (Банке России)"

Read the untranslated law here: http://pravo.gov.ru/proxy/ips/?doc_itself=&infostr=x&backlink=1&fulltext=1&nd=102035357

Expired-the Federal law from 10.07.2002 N 86-FZ of the RUSSIAN FEDERATION FEDERAL Act amending and supplementing the Act of the RSFSR "on the Central Bank of the RSFSR (Bank of Russia)" adopted by the State Duma April 12, 1995 onwards (as amended by the federal laws of 31.07.95 N 120-FZ;
from 04.01.96 N 1-FZ; from 04.03.98 N 34-FZ) t s t b I 1. Make changes and additions to the RSFSR Law on the Central Bank of the RSFSR (Bank of Russia) "(records of the RSFSR Congress of people's deputies and the Supreme Soviet of the RSFSR, 1990, no. 27, art. 356; Gazette of the Congress of people's deputies of the Russian Federation and the Supreme Soviet of the Russian Federation, 1992, no. 34, art. 1966), read as follows: "federal law on the Central Bank of the Russian Federation (Bank of Russia) Chapter i. General provisions article 1. The status, tasks, functions, powers and principles of organization and activity of the Central Bank of the Russian Federation (Bank of Russia) are determined by the Constitution of the Russian Federation, this federal law and other federal laws.
Location of the central bodies of the Bank of Russia-Moscow.
Article 2. Share capital and other property of the Bank of Russia are federally owned. In accordance with the purposes and in the manner established by this federal law, the Bank of Russia carries out powers of possession, use and disposition of the property of the Bank of Russia. The recovery and encumber the property of the Bank of Russia's obligations without the consent of the Bank of Russia are not allowed.
Bank of Russia carries out their expenses from their own income.
The Bank of Russia is not registered with the tax authorities.
The Bank of Russia is a legal entity. The Bank of Russia has a seal with the State emblem of the Russian Federation and its name.
The State is not liable to obligations of the Bank of Russia and the Bank of Russia-for obligations of the State, unless they have undertaken such obligations or if otherwise not stipulated by federal laws.
Article 3. The main objectives of the Bank of Russia are: protection and sustainability, including its purchasing power and rate against foreign currencies;
development and strengthening of the banking system of the Russian Federation;
to ensure the effective and smooth functioning of payment systems.
Profit is not the purpose of the activities of the Bank of Russia.
Article 4. Bank of Russia performs the following functions: 1) in collaboration with the Government of the Russian Federation develops and implements a unified national monetary policies aimed at protecting and guaranteeing the stability of the ruble;
2) to exercise a monopoly on issuance of cash and organize its circulation;
3) is the lender of last resort for credit organizations, organizes the system of refinancing;
4) sets the rules for the implementation of payments in the Russian Federation;
5) establishes rules for banking operations, accounting and reporting for the banking system;
6) implements State registration of credit institutions; issues and revokes licences of credit institutions and organizations involved in their audit;
7) is responsible for the supervision of credit institutions;
8) registers issue securities by credit institutions in accordance with the federal laws;
9) carries out independently or on behalf of the Government of the Russian Federation, all types of banking operations necessary to perform basic tasks of the Bank of Russia;
10) implements currency regulation, including purchases and sales of foreign currency; defines the order of settlements with foreign States;
11) organizes and implements exchange controls, either directly or through authorized banks in accordance with the legislation of the Russian Federation;
12) participates in the development of the forecast of the balance of payments of the Russian Federation and organize the compilation of the balance of payments of the Russian Federation;
13) in order to implement these functions, conducts analysis and prediction of the State of the economy of the Russian Federation as a whole and by region, primarily monetary, fiscal and pricing relations; publishes relevant material and statistical data;
14) exercise other functions in accordance with the federal laws.
Article 5. The Bank of Russia is accountable to the State Duma of the Federal Assembly of the Russian Federation. Accountability of the Bank of Russia State Duma mean: appointment and dismissal of the State Duma on the recommendation of the President of the Russian Federation, Chairman of the Bank of Russia;
appointment and dismissal of State Duma members of the Board of Directors of the Bank of Russia (hereinafter referred to as the Board of Directors);
presentation of the Bank of Russia State Duma for consideration of the annual report and audit opinion;
definition of the State Duma of the audit firm to conduct an audit of the Bank of Russia;
parliamentary hearings on the activities of the Bank of Russia with the participation of its representatives;
reports of the Chairman of the Bank of Russia State Duma about the activities of the Bank of Russia (twice a year, in presenting the annual report and main directions of single State monetary policy).
Bank of Russia within the powers granted him by the Constitution of the Russian Federation and federal laws shall be independent in their activities. The federal bodies of State power, bodies of State power of the constituent entities of the Russian Federation and bodies of local self-government shall not have the right to interfere in the activities of the Bank of Russia to implement its legislated responsibilities and authority to make decisions that are contrary to the present Federal law.
The Bank of Russia is the State Duma and President of the Russian Federation information in the manner prescribed by federal laws.
In case of interference with its activities, the Bank of Russia shall inform the State Duma and President of the Russian Federation.
The Bank of Russia has the right to apply to the courts to request invalidation of legal acts of the federal bodies of State power, bodies of State power of the constituent entities of the Russian Federation and bodies of local self-government.
Article 6. The Bank of Russia on issues within its competence, this federal law and other federal laws, normative acts required for federal bodies of State power, bodies of State power of the constituent entities of the Russian Federation and bodies of local self-government, all legal and natural persons.
Normative acts of the Bank of Russia may not contradict federal laws.
Normative acts of the Bank of Russia will come into force from the date of their publication in the official bulletin of the Bank of Russia ("Bulletin of the Bank of Russia"), except as otherwise specified by the Board of Directors. Normative acts of the Bank of Russia does not have retroactive effect.
Normative acts of the Bank of Russia, directly affecting the rights, liberties or duties of citizens, must be registered with the Ministry of Justice of the Russian Federation in accordance with the procedure established for registration of federal departments and agencies.
Normative acts of the Bank of Russia in full forwarded as appropriate to all registered mail or other credit institutions.
Normative acts of the Bank of Russia may be appealed in accordance with the law.
Projects of federal laws as well as regulations of the federal bodies of executive power relating to the implementation of the Bank of Russia of its functions, shall be sent at the conclusion of the Bank of Russia.
Article 7. Bank of Russia could not participate in the capital of credit institutions, unless otherwise provided by federal law.
Bank of Russia could not participate in the capital of other entities if they do not provide the Bank of Russia, its institutions, organizations and officials, except for cases stipulated by federal laws.
Article 8. Bank of Russia may participate in capitals and international organizations involved in development cooperation in the monetary, foreign exchange, banking, including between central banks of foreign countries.
The relationship of the Bank of Russia with credit organizations of foreign States shall be carried out in accordance with the international treaties of the Russian Federation, federal laws, as well as interbank agreements.
CHAPTER II. CAPITAL of the BANK of RUSSIA Article 9. The Bank of Russia has an authorized capital of $ 3 billion. rubles.
Article 10. Bank of Russia creates its profit reserves and funds for various purposes in amounts necessary for the exercise of its functions, and regardless of profits and losses from the revaluation of the Fund on operations with currency values.
The order of formation and use of reserves and funds shall be determined by the Board of Directors.
CHAPTER III. MANAGEMENT BODIES of the BANK of RUSSIA Article 11. The supreme body is the Board of Directors of the Bank of Russia-a collective body that defines the basic directions of activity of the Bank of Russia and the direction and management of the Bank of Russia.

The Board of Directors is composed of the President of the Bank of Russia and the 12 members of the Board of Directors.
Members of the Board of Directors work on a permanent basis with the Bank of Russia.
Article 12. Bank of Russia Chairman shall be appointed by the State Duma of the Federal Assembly for a four-year term by a majority of votes from total number of Deputies.
Candidate for appointment to the post of Chairman of the Bank of Russia is the President of the Russian Federation not later than three months before the expiration of the term of Office of the Chairman of the Bank of Russia.
In the case of premature release from Office of the Chairman of the Bank of Russia, the President of the Russian Federation is a candidate for the post in two weeks since release.
In case of rejection of the proposed for the post of Chairman of the Bank of Russia the candidacies of the President of the Russian Federation within two weeks of making a new nomination. One candidate could not be more than two times.
One and the same person cannot hold the Office of President of the Bank of Russia for more than three consecutive terms.
The State Duma has the right to dismiss the President of the Bank of Russia on the recommendation of the President of the Russian Federation.
Bank of Russia Chairman may be removed from Office only in the following cases: 1) the expiration of the term of Office;
2) impossibility of performance of official duties, confirmed the conclusion of the State Medical Board;
3) personal resignation;
4) committing a criminal offence established by entered into legal force court verdict;
5) violations of federal laws that regulate matters related to the activities of the Bank of Russia.
Article 13. Members of the Board of Directors are appointed for a term of four years by the State Duma on recommendation of the President of the Bank of Russia, agreed with the President of the Russian Federation.
Members of the Board of Directors dismissed by: after the specified in this article, the term of Office of the Chairman of the Bank of Russia;
until the specified in the present article the term-the State Duma on the nomination of the Chairman of the Bank of Russia.
Article 14. Presides over meetings of the Board of Directors of the Bank of Russia Chairman and in his absence the person, his replacement, from among the members of the Board of Directors.
Decision of the Board of Directors shall be taken by a majority vote of those present members of the Board of Directors in quorum of seven people and the obligatory presence of the President of the Bank of Russia or his Deputy. Protocol of meeting of Board of Directors shall be signed by the person who chaired the meeting, and one of the members of the Board of Directors. When making Board of Directors decisions on monetary policy, the opinion of the members of the Board of Directors, who are in the minority, is entered at their request in the Protocol.
To participate in the meetings of the Board of Directors may invite leaders of territorial institutions of the Bank of Russia.
Article 15. The Board of Directors shall meet at least once a month.
Meetings of the Board of Directors shall be appointed by the President of the Bank of Russia, or his/her Deputy, or at the request of not less than three members of the Board of Directors.
Members of the Board of Directors promptly notified of the appointment of the Board of Directors.
Article 16. The Board of Directors shall have the following functions: 1) in collaboration with the Government of the Russian Federation develops and enforces the basic directions of the single State monetary policy;
2) approves the annual report of the Bank of Russia and submit it to the State Duma;
3) review and approve the cost estimates of the Bank of Russia for the next year no later than 31 December of the preceding year, as well as expenditures incurred, not budgeted;
4) defines the structure of the Bank of Russia;
5) establishes the form and dimensions of remuneration of the Chairman of the Bank of Russia, members of the Board of Directors, Vice-Presidents of the Bank of Russia and other employees of the Bank of Russia;
6) takes decisions on the creation and elimination of the agencies and organizations of the Bank of Russia;
on the establishment of obligatory standards for credit institutions in accordance with article 61 of this federal law;
the largest reserve requirements;
abount changing rates of the Bank of Russia;
on defining the limits of open market operations;
participation in international organizations;
on the participation in the capital of organisations providing activities of the Bank of Russia, its institutions, organizations and officials;
about buying and selling real estate to support the activities of the Bank of Russia, its institutions, organizations and officials;
on the application of direct quantitative restrictions;
release notes and banknotes and coins from circulation, the total output of cash;
on the order of formation of reserves by credit institutions;
7) introduced in the State Duma proposal to amend the authorized capital of the Bank of Russia;
8) approves the work of the Board of Directors;
9) appoints the Chief Auditor of the Bank of Russia;
10) approves the internal structure of the Bank of Russia, the provisions of subdivisions of the Bank of Russia, the Bank of Russia, the statutes of the organizations the Bank of Russia, the procedure for appointing the heads of departments, agencies and organizations of the Bank of Russia;
11) defines the conditions for the admission of foreign capital in the banking system of the Russian Federation in accordance with the federal laws;
12) perform other functions assigned by this federal law to the competence of the Board of Directors of the Bank of Russia.
Article 17. Members of the Board of Directors may not be deputies of the State Duma (deputies) and the members of the Federation Council, deputies of the legislative (representative) bodies of constituent entities of the Russian Federation, bodies of local self-government, as well as members of the Government of the Russian Federation.
The addition of Deputy powers or resignation of a member of the Government of the Russian Federation must be made within one month from the date of appointment to the position of Member of the Board of Directors, then the newly appointed member of the Board of Directors shall proceed to the execution of their duties.
Members of the Board of Directors may not join political parties, to occupy positions in the socio-political and religious organizations.
The members of the Board of Directors is subject to the restrictions imposed by article 90 of this federal law.
Article 18. The Chairman of the Bank of Russia: 1) acts on behalf of the Bank of Russia and represent its interests without power of Attorney in relations with public authorities, credit institutions, organizations of foreign States and international organizations, other agencies and organizations;
2) shall preside at meetings of the Board of Directors. In the event of an equality of votes, the vote of the Chairman of the Bank of Russia is crucial;
3) signs the normative acts of the Bank of Russia, the decision of the Board of Directors, minutes of meetings of the Board of Directors, the agreements to be concluded by the Bank of Russia;
4) appoints and dismisses Deputy Chairman of the Bank of Russia, allocates responsibilities between them;
5) signs orders and giving instructions obligatory for all employees of the Bank of Russia, its enterprises, institutions and organizations;
6) bears full responsibility for the activities of the Bank of Russia;
7) provides an implementation of the functions of the Bank of Russia in accordance with this federal law.
CHAPTER IV. The BANK of RUSSIA'S RELATIONSHIP with the organs of STATE POWER and bodies of local self-government, Article 19. To implement its mandated functions, the Bank of Russia participates in the formulation of economic policy of the Government of the Russian Federation. The Chairman of the Bank of Russia or on his behalf by one of his deputies shall participate in the meetings of the Government of the Russian Federation.
Minister of Finance of the Russian Federation and the Minister of economy of the Russian Federation or on their behalf by one of their deputies attend meetings of the Board of Directors with the right of deliberative vote.
The Bank of Russia and the Government of the Russian Federation shall inform each other about the alleged actions of national importance, coordinate their policies, consult regularly.
Bank of Russia advises the Ministry of Finance of the Russian Federation on the release schedule of Government securities and public debt, taking into account their impact on the banking system and the priorities of the single State monetary policy.
Article 20. In order to improve the monetary system of the Russian Federation to the Bank of Russia creates the national banking Council, consisting 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, Bank of Russia, credit organizations, as well as experts.
The President of the national banking Council is the Chairman of the Bank of Russia. The national banking Council consists of two representatives from the Chambers of the Federal Assembly of the Russian Federation, one representative of the President of the Russian Federation and the Government of the Russian Federation, as well as the Minister of Finance of the Russian Federation and the Minister of economy of the Russian Federation. The remaining members of the national banking Council are appointed by the State Duma on the nomination of the Chairman of the Bank of Russia. The strength of the national banking Council does not exceed 15 people.

A meeting of the national banking Council held not less than once in three months.
Article 21. The national banking Council performs the following functions: to consider the concept of improving the banking system of the Russian Federation;
considering draft fundamental directions of the single State monetary policy, currency regulation and currency control, gives opinions on them and analyse the results of their implementation;
carries out the review of draft legislative and other regulatory acts in the area of banking;
considering the most important issues to regulate the activities of credit institutions;
participates in the formulation of basic principles for the Organization of the settlement system in the Russian Federation.
Article 22. Bank of Russia does not have the right to grant loans to the Government of the Russian Federation to finance the budget deficit, buying Government securities when their initial offering, except when stipulated by the Federal law on the federal budget.
The Bank of Russia has no right to grant credits to finance deficits, the budgets of the constituent entities of the Russian Federation, local budgets and the budgets of State non-budgetary funds.
Article 23. Federal budget and State non-budgetary funds are kept in the Bank of Russia, unless otherwise stipulated by federal laws.
Bank of Russia without charging Commission carries out operations with the federal budget and State non-budgetary funds, with the budgets of the constituent entities of the Russian Federation and local budgets, as well as servicing of public debt and transactions with gold and currency reserves of the Russian Federation.
Powers of the Bank of Russia of servicing public debt are determined by federal laws.
The Bank of Russia and the Ministry of Finance of the Russian Federation, where necessary, conclude agreements on carrying out transactions on behalf of the Government of the Russian Federation.
Chapter v. STATEMENTS of the BANK of RUSSIA Article 24. The period under review, the Bank of Russia is set to 1 January to 31 December inclusive.
The structure of the balance sheet of the Bank of Russia is set by the Board of Directors.
Article 25. Bank of Russia annually not later 15 May is the annual report of the State Duma, approved by the Board of Directors.
Annual report of the Bank of Russia includes: 1) report on the activities of the Bank of Russia, analysis of the State of the economy of the Russian Federation, including money in circulation and credit, banking system, currency situation and the balance of payments of the Russian Federation, as well as the list of activities for the single State monetary policy conducted by the Bank of Russia;
2) the annual balance sheet, profit and loss account, profit distribution;
3) the procedure for the formation and direction of the use of reserves and fund balances of the Bank of Russia;
4) audit report on the annual report of the Bank of Russia.
The State Duma sends the annual report of the Bank of Russia, the President of the Russian Federation, as well as to the Government of the Russian Federation.
The State Duma was considering the annual report of the Bank of Russia before 1 July of the year following the accounting year.
Following its consideration of the annual report of the Bank of Russia State Duma decides.
The annual report shall be published not later than 15 July of the year following the accounting year.
Bank of Russia monthly publishes its balance sheet data on monetary circulation including the dynamics and structure of money supply, aggregate data on its operations.
Article 26. The profit of the Bank of Russia after the direction of its Board of Directors in accordance with the established order in reserves and funds transferred to the federal budget.
It is not allowed to enumerate the profit for the reporting year in the federal budget before approving the annual report of the Board of Directors of the Bank of Russia.
The Bank of Russia and its institutions are exempt from all taxes, charges, duties and other payments on the territory of the Russian Federation in accordance with legislative acts of the Russian Federation on taxes.
CHAPTER VI. ORGANIZING CASH CIRCULATION Article 27. The official monetary unit (currency) of the Russian Federation is the ruble. One ruble is comprised of 100 cents.
Introduction in the territory of the Russian Federation, other currencies and issue cash surrogates are prohibited.
Article 28. The formal relationship between ruble and gold or other precious metals.
Article 29. Issue of cash, their circulation and withdrawal them from circulation on the territory of the Russian Federation shall be carried out exclusively by the Central Bank of Russia.
Banknote (banknotes) and coin Bank of Russia are the only legal tender on the territory of the Russian Federation. Their fake and illegal production must be prosecuted by law.
Article 30. Banknote and coin are unconditional obligations of the Bank of Russia and all his assets.
Banknote and coin Bank of Russia are required to accept at face value for all types of payments to be credited to accounts, deposits and for the entire territory of the Russian Federation.
Article 31. Banknote and coin Bank of Russia cannot be declared invalid (unenforceable legal tender), if you do not have a long enough period to exchange their banknotes and coin a new sample. Not allowed any restrictions on amounts or the subjects of the Exchange.
When exchanging notes and coins of the Bank of Russia on the banknotes of the new sample term withdrawal of banknotes and coins from circulation may not be less than one year, but not exceeding five years.
Article 32. Bank of Russia without limits exchanges dilapidated and damaged banknotes in accordance with established rules to them.
Article 33. The Board of Directors shall decide on issuing new banknotes and coins and the withdrawal of old claims denominations and samples of new banknotes. Description of the new banknotes shall be published in mass media.
A decision on these issues in the order in which prior notification is sent to the Government of the Russian Federation.
Article 34. With a view to organizing cash circulation in the territory of the Russian Federation on the Bank of Russia shall have the following functions: prediction and organization of production, transport and storage of banknotes and coins, creating their reserve funds;
establish rules for storage, transportation and collection of cash for credit institutions;
establishment signs banknotes solvency and order replacement of damaged banknotes and coins, as well as their destruction;
determination of the order of reference transactions for credit institutions.
CHAPTER VII. Monetary policy Article 35. The basic tools and techniques of monetary policy of the Bank of Russia are: 1) interest rates on operations of the Bank of Russia;
2) standards of required reserves deposited with the Bank of Russia (reserve requirements);
3) open market operations;
4) refinancing of banks;
5) currency regulation;
6) benchmarking monetary growth;
7) direct quantitative restrictions.
Article 36. Bank of Russia adjusts the total amount granted them loans in accordance with the guidelines of the unified State of monetary policy.
Article 37. Bank of Russia may establish one or more interest rates on various types of transactions or conduct interest policy without a fixed interest rate.
Interest rates the Bank of Russia are minimum rates at which the Bank of Russia carries out its operations.
Bank of Russia uses the interest policy to influence market interest rates to strengthen the ruble.
Article 38. Legal reserve in relation to the obligations of the credit institution, as well as their deposit with the Bank of Russia are set by the Board of Directors.
The standards of required reserves may not exceed 20 per cent of the liabilities of the credit institution and can be differentiated for various credit institutions.
The standards of required reserves may not be a lump sum changed more than five points.
If there is a violation of the norms of compulsory reserves, the Bank of Russia is entitled to recover the indisputably credit organization nedovnesennyh amount of funds, as well as a penalty in the prescribed amount for them, but not more than double the refinancing rate.
When you are revoking a license to carry out banking transactions deposited with the Bank of Russia funds are used to satisfy the obligations of the credit institution to depositors and creditors.
Article 39. Under the open-market operations refers to the purchase and sale of Bank of Russia Treasury bills, government bonds and other government securities, short-term securities with the Commission later reverse the transaction.
Limit of open market operations approved by the Management Board.
Article 40. Under the refinancing refers to lending by the Bank of Russia banks, including accounting and re-accounting of bills.
The form, manner and conditions of refinancing are fixed.
Article 41. Under currency interventions by the Bank of Russia refers to the purchase and sale of foreign currency by the Bank of Russia in the foreign exchange market to influence the exchange rate and the total demand and supply of money.

Article 42. Direct quantitative restrictions of the Bank of Russia refers to limits on refinancing of banks, credit organizations conducting certain banking operations.
The Bank of Russia has the right to apply direct quantitative restrictions in exceptional cases in order to conduct a single State monetary policy only after consultations with the Government of the Russian Federation.
Article 43. Bank of Russia can establish reference points one or more indicators of growth of the money supply on the basis of the basic directions of the single State monetary policy.
Article 44. Bank of Russia annually not later December 1 represents the main directions of the State Duma of the single State monetary policy for the coming year.
Preliminary draft guidelines single State monetary policy shall be submitted to the President of the Russian Federation and the Government of the Russian Federation.
The main directions of the single State monetary policy for the coming year include the following: status analysis and development forecast of the economy of the Russian Federation;
the basic guidelines, options and tools the single State monetary policy.
The State Duma was considering the main directions of the single State monetary policy for the coming year and take a decision.
CHAPTER VIII. OPERATIONS of the BANK of RUSSIA Article 45. The Bank of Russia has the right to carry out the following transactions with Russian and foreign credit institutions by the Government of the Russian Federation to achieve it this federal law purposes: 1) provide loans for a term not exceeding one year, under the provision of securities and other assets, unless otherwise stipulated in the Federal law on the federal budget;
2) buy and sell cheques, promissory notes and bills of Exchange, are usually commodity origin, with maturities of not more than six months;
3) buy and sell government securities on the open market;
4) buy and sell bonds, certificates of deposit and other securities with maturity not exceeding one year;
5) buy and sell foreign currency and payment documents and liabilities in foreign currency issued by Russian and foreign credit institutions;
6) purchase, store, sell precious metals and other types of currency values;
7) settlement, cash and deposit operations take storage and in managing securities and other valuables;
8) to issue guarantees and sureties;
9) to carry out operations with financial instruments used to manage financial risks;
10) open an account in Russian and foreign credit organizations on the territory of the Russian Federation and foreign States;
11) exhibit cheques and bills in any currency;
12) perform other banking transactions on their own behalf, unless prohibited by law.
The Bank of Russia has the right to carry out transactions on a Commission basis, except in cases provided for by federal laws.
Article 46. For loans of the Bank of Russia can be: gold and other precious metals in different forms;
foreign currency;
promissory note in Russian and foreign currency with maturities of up to six months;
Government securities.
Lists of bills and Government securities suitable for providing loans of the Bank of Russia, are determined by the Board of Directors.
In cases laid down by the Board of Directors, may serve other values, as well as guarantees and sureties.
Article 47. Bank of Russia may carry out banking services representative and executive bodies of State power, bodies of local self-government, their institutions and organizations, State non-budgetary funds, military units, military, employees of the Bank of Russia, as well as other persons in the cases provided for by federal laws.
The Bank of Russia also may serve clients that are not credit institutions in regions where there are no credit organizations.
Article 48. Bank of Russia does not have the right to: 1) carry out banking transactions with legal persons not licensed to conduct banking transactions, and individuals, except as provided for in article 47 of this federal law;
2) acquire shares credit and other organizations, except in the cases provided for in articles 7 and 8 hereof;
3) to real estate, except in cases related to the activities of the Bank of Russia, its enterprises, institutions and organizations;
4) deal with commercial and production activities, except for the cases stipulated by this federal law;
5) roll over loans. An exception may be made to the decision of the Board of Directors.
Article 49. The Bank of Russia has a responsibility in the manner prescribed by federal laws.
In court and Arbitration Court the interests of the Bank of Russia may represent the heads of its territorial agencies and other officials of the Bank of Russia that receive power of Attorney in the prescribed manner.
CHAPTER IX. INTERNATIONAL and FOREIGN ECONOMIC ACTIVITY of Article 50. The Bank of Russia is the Russian Federation's interests in relations with central banks of foreign countries, as well as in international banks and other international financial organizations.
Article 51. Bank of Russia issues a permission to create banks with foreign capital and foreign bank branches, as well as the accreditation of representative offices of credit institutions of foreign States in the territory of the Russian Federation in accordance with the procedure established by federal laws.
An increase of the Charter capital of the credit institution at the expense of the funds of non-residents is governed by federal laws.
Article 52. Bank of Russia establishes and publishes the official quotation of foreign currencies against the rouble.
Article 53. The Bank of Russia is an organ of the State currency regulation and currency control and performs this function in accordance with the law of the Russian Federation on currency regulation and currency control "and federal laws.
Article 54. For the performance of its functions, the Bank of Russia can open representative offices in foreign countries.
Chapter x. BANKING REGULATION and SUPERVISION Article 55. The Bank of Russia is an organ of the banking regulation and supervision of credit institutions.
Bank of Russia carries out continuous supervision over the observance by credit institutions of the banking legislation, normative acts of the Bank of Russia, in particular the obligatory standards set by them.
The main objective of the banking regulation and supervision-maintaining the stability of the banking system and protecting the interests of depositors and creditors. Bank of Russia does not interfere in the operational activities of credit organizations, except in cases provided for by federal laws.
Supervisory and regulatory functions of the Bank of Russia, established by this federal law may be exercised by him either directly or through a created under authority of banking supervision. Decision on the establishment of the authority shall be adopted by the Board of Directors.
Article 56. Bank in Russia sets mandatory for credit institutions, the rules for banking transactions, accounting, preparation and submission of accounting and statistical reporting.
For the performance of its functions, the Bank of Russia in accordance with the list established by the Board of Directors has the right to request and obtain the necessary information from credit institutions on their activities, to seek clarification on the information received.
For the preparation of the banking and financial statistics, analysis of the economic situation, the Bank of Russia has the right to seek and receive information from the federal bodies of executive power.
Received from credit institutions data on specific operations shall not be disclosed without the consent of the relevant credit institution, except in cases provided for by federal laws.
Bank of Russia publishes aggregated statistical and analytical information on the banking system of the Russian Federation.
The provisions of this article shall apply to information collected and transmitted by the Central Bank of Russia on behalf of the Government of the Russian Federation to the international organizations.
Article 57. Bank of Russia does not have the right to demand from credit institutions perform uncharacteristic functions, including monitoring of the consumption Fund expenditure (wages) of legal entities-customers.
Article 58. Bank of Russia registers credit organizations in the State registration of credit institutions, credit institutions shall issue a license for carrying out banking operations and recall them.
Article 59. The Bank of Russia are entitled, in accordance with the federal laws impose qualification requirements to the heads of executive bodies, as well as the Chief Accountant of the credit organization.

Article 60. As a result of the acquisition of one or several transactions by one legal or natural person, or a group of legal entities and (or) physical persons, linked by agreement or by a group of legal entities that are affiliated or dependent relative to each other, more than 5 percent of the shares of a credit organization requires notification of the Bank of Russia, and more than 20 per cent of the Bank of Russia's prior consent.
Bank of Russia no later than 30 days from the date of receipt of the application in writing notify the applicant of its decision-consent or refusal. A waiver must be motivated. In case the Bank of Russia is not informed of the decision within the specified period, the sale shares (the shares) a credit institution shall be deemed approved.
The Bank of Russia in the exercise of its oversight responsibilities, the right to seek and receive information about the financial position and business reputation of the members (shareholders) of a credit institution in the case of the acquisition of more 20 percent of the shares of the credit institution.
The Bank of Russia has the right to refuse to consent to the transaction of purchase and sale of more than 20 percent of the shares of the credit organization in establishing the unsatisfactory financial situation of the acquirer of shares (shares).
Acquisition of shares (shares) the credit institution at the expense of the funds of non-residents is governed by federal laws.
Article 61. In order to ensure the sustainability of credit institutions, the Bank of Russia may establish them mandatory standards: 1) the minimum amount of the authorized capital for newly created credit organizations, the minimum size of the own funds (capital) to active credit institutions;
2) size limit of non-pecuniary part of authorized capital;
3) maximum risk for one borrower or a group of related borrowers;
4), the maximum size of a large credit risks;
5) maximum risk on one lender (Investor);
6) liquidity ratios of the credit organization;
7) capital adequacy ratios;
8) maximum size of attracted deposits (deposits);
9) dimensions of the currency, interest rate and other risks;
10) the minimum size of the reserves established under the highly risky assets;
11) regulations the use of own funds of banks for the acquisition of the shares of other legal entities;
12) the maximum size of loans, guarantees and sureties granted by the Bank to its participants (shareholders).
Article 62. The minimum size of the own funds (capital) shall be determined as the sum of the paid-up capital of a credit institution funds and retained earnings.
To change the minimum size of the own funds (capital) of the Bank of Russia officially announced no later than three years before the date of its introduction.
Article 63. Maximum risk for one borrower or a group of related borrowers are in relation to each other or major dependent child, is set as a percentage of own funds of the credit institution.
In determining the amount of risk takes into account the full amount of the credit organization of the borrower or a group of related borrowers, as well as guarantees and sureties provided by the credit institution the borrower or a group of related borrowers.
Article 64. The maximum size of the large credit risks is set as a percentage of the aggregate of major risks and the credit institution's own funds.
Major credit risk is the amount of loans, guarantees and sureties in favour of one customer in excess of 5 per cent of the own funds of the credit institution.
The maximum size of the large credit risk may not exceed 25 per cent of the own funds of the credit institution.
The Bank of Russia has the right to maintain a roster of major credit risks credit organizations.
Article 65. Maximum risk on one lender (Investor) a credit institution is established as a percentage contribution values or of the loan received guarantees and sureties, balances from the same or related creditors (depositors) and own funds of the credit institution.
Article 66. Liquidity ratios of the credit institution are defined as the ratio between its assets and liabilities, taking into account the timing, amounts and types of assets and liabilities and other factors;
the ratio of its liquid assets (cash, on demand, short-term securities, other assets of the company) and total assets.
Article 67. Capital adequacy ratios are defined as the limit of the ratio of the total amount of own funds of the credit institution and the amount of its assets weighted by risk level.
Article 68. The maximum size of attracted deposits (deposits) of citizens is defined as the limit of the total amount of cash ratio deposits (deposits) citizens and magnitude of own funds (capital) of the Bank.
Article 69. Standards for use of own funds of the credit institution for the acquisition of the shares of other legal persons are established in the form of percentage sizes and invested his own funds of the credit institution.
The size of the standard use of own resources for the acquisition of the shares may not exceed 25 per cent of the own funds of the credit institution.
Article 70. Bank of Russia regulates the size and open positions accounting credit institutions on foreign exchange, interest rate and other financial risks.
Article 71. Bank of Russia defines the procedure for the formation and size of generated pre-tax reserves (funds) credit institutions for possible losses on loans to cover its foreign exchange, interest and other financial risks insurance of deposits of citizens in accordance with the federal laws.
Article 72. The maximum size of loans, guarantees and sureties granted by the Bank to its participants (shareholders), is defined as a percentage of the Bank's own funds.
The specified standard may not exceed 20 per cent.
Article 73. Bank of Russia sets the method of determination of own funds, assets, liabilities and exposures on assets for each of the standards in accordance with international standards and consultations with banks, banking associations and unions.
The Bank of Russia has the right to establish differential standards and methodologies for their calculation, by types of banks and other credit organizations.
About the upcoming change in standards and methodologies for their calculation, the Bank of Russia officially announced no later than one month prior to their introduction.
Article 74. For the performance of its functions in the field of banking supervision and regulation of the Bank of Russia carries out inspections of credit institutions and their branches, sends them binding instructions on Elimination of revealed violations in their activities and applies this federal law provided for sanctions against violators.
Checks can be performed by the authorized representatives of the Board of Directors of the Bank of Russia and on his behalf-auditing firms.
Authorized by the Board of Directors of the Bank of Russia have the right to receive and verify the statements and other documents of the credit institutions, if necessary, with copies of the relevant documents.
The procedure for conducting checks of credit organizations, including defining the obligations of credit institutions to assist in the conduct of inspections shall be determined by the Board of Directors.
Article 75. In case of violation of the credit institution of the federal laws, regulations and instructions of the Bank of Russia, of failure to submit information, submission of incomplete or false information, the Bank of Russia has the right to require that the credit organization removing the revealed violations, collect a fine of up to one tenth of a percent of the size of the minimum authorized capital or restrict conduct separate operations for up to six months.
In case of failure in the Bank of Russia period regulations to eliminate violations, as well as if these violations or committed by a credit organization operations have created a real threat to the interests of creditors (depositors), the Bank of Russia has the right to: 1) recover from the credit company a fine of up to 1 per cent of the paid-up equity capital, but not more than 1 per cent of the minimum amount of the authorized capital;
2) require that the credit organization: a) the implementation of activities on financial recovery of the credit organization, including changes to the structure of assets;
b) replacement of managers of the credit institution;
in the reorganization of the credit organization);
3) change to the credit organization mandatory regulations for a period of up to six months;
4) prohibit the implementation of the credit organization of individual banking transactions stipulated by the license issued for up to one year, as well as the opening of branch offices for up to one year;
5) to appoint a transitional administration on the management of the credit institution for up to 18 months;
6) revoke a license for carrying out banking operations in the manner provided for by federal laws.
Article 76. Bank of Russia carries out an analysis of the activities of credit institutions, with a view to identifying situations that threaten the legitimate interests of creditors (depositors), the stability of the banking system as a whole.

In case of occurrence of such situations, the Bank of Russia has the right to take the measures referred to in article 75 of this federal law, as well as by the decision of the Board of Directors to carry out measures on financial recovery of credit institutions.
CHAPTER XI. Relations with CREDIT INSTITUTIONS Article 77. Russian Bank interfaces with credit institutions, their associations and unions, consult with them before making the most important decisions of a regulatory nature, represents the necessary clarifications, reviews proposals on banking regulation.
Article 78. In order to interact with the credit institutions, the Bank of Russia has the right to create, with the involvement of representatives of credit institutions operating on a voluntary basis, committees, working groups to examine specific issues of banking.
Article 79. The Bank of Russia is not responsible for the obligations of credit institutions, except when the Bank of Russia takes on such commitments and credit institutions do not bear liability for the obligations of the Bank of Russia, except where credit institutions to assume such obligations.
CHAPTER XII. ORGANIZATION of CASHLESS SETTLEMENTS Article 80. The Bank of Russia is the coordinating body, regulating and licensing the Organization calculated, including clearing systems in the Russian Federation.
Bank of Russia establishes rules, forms, terms and standards implementation of cashless payments.
The total period of cashless payments should not exceed two business days within a constituent entity of the Russian Federation, five business days within the Russian Federation.
Article 81. Bank of Russia carries out interbank settlements through its agencies.
Article 82. Foreign currency as a means of payment in the implementation of cashless payments for goods and services may be used only in the cases provided for by federal laws.
CHAP. XIII. PRINCIPLES of ORGANIZATION of the BANK of RUSSIA Article 83. Bank of Russia forms a unified centralized system with vertical management structure.
In the system of the Bank of Russia consists of the central apparatus, territorial agencies, cash centres, computing centers, field agencies, educational institutions and other enterprises, institutions and organizations, including security units necessary for carrying out the activities of the Bank of Russia.
National banks are republics territorial agencies of the Bank of Russia.
Article 84. Territorial establishment of the Bank of Russia does not have the status of legal entity and does not have the right to make decisions that are normative in nature, as well as to issue guarantees and sureties, promissory notes, and other obligations without the permission of the Board of Directors.
Tasks and functions of the territorial agencies of the Bank of Russia are defined in the regulation on territorial institutions of the Bank of Russia, approved by the Board of Directors.
Article 85. By the decision of the Board of Directors of the territorial establishment of the Bank of Russia can be created by economic regions, combining several subjects of the Russian Federation.
Article 86. Field agencies of the Bank of Russia carry out banking transactions in accordance with this federal law, other federal laws, as well as the normative acts of the Bank of Russia.
Field agencies of the Bank of Russia are military institutions and are guided in their activities by the military charters, as well as the situation on the field agencies of the Bank of Russia approved by joint decision of the Bank of Russia and the Ministry of defence of the Russian Federation.
Field institutions designed for banking services for military units, institutions and organizations of the Ministry of defence of the Russian Federation, as well as other State bodies and legal persons, to ensure the security of the Russian Federation, and individuals residing in areas served by the objects field agencies, where the creation and functioning of territorial institutions of the Bank of Russia is impossible.
Article 87. Bank of Russia can be liquidated only on the basis of the enactment of the Federal law.
The law on liquidation of the Bank of Russia defines and use his property.
CHAPTER XIV. EMPLOYEES of the BANK of RUSSIA Article 88. Terms and conditions of employment, dismissal, remuneration, duties and rights of the disciplinary system, employees of the Bank of Russia shall be determined by the Board of Directors in accordance with federal laws.
Article 89. The Board of Directors creates a pension fund for supplementary pension schemes of employees of the Bank of Russia, as well as life insurance and medical insurance for its employees.
Article 90. Employees of the Bank of Russia according to the list of posts, approved by the Board of Directors: are not allowed to work part-time, as well as on the basis of a contract (except for teaching and research activities);
have no right to occupy positions in credit and other organizations;
obliged to notify the Board of directors within ten days upon acquisition of shares (shares) of credit institutions.
Article 91. Employees of the Bank of Russia, the incumbent, the list of which is approved by the Board of Directors may receive credits for personal needs only with the Bank of Russia.
Article 92. Employees of the Bank of Russia have no right to disclose confidential information on the activities of the Bank of Russia without the permission of the Board of Directors.
CHAPTER XV. AUDIT of the BANK of RUSSIA Article 93. The State Duma no later than 1 November of the reporting year decides on audit of Bank of Russia and determines the firm with experience of not less than 10 years, for verifying the annual report of the Bank of Russia and the presentation of Auditor's conclusion.
Article 94. The Bank of Russia is obliged in accordance with the auditing firm treaty reporting and information necessary for the audit.
The audit contract should include the volume of the transmitted information, audit firm as well as its responsibility to transfer the information obtained to third parties.
Payment for the services of an accounting firm to audit the Bank of Russia is carried out at the expense of own funds of the Bank of Russia.
Article 95. Internal audit of the Bank of Russia is managed by the Chief Auditor, reporting directly to the President of the Bank of Russia ".
T s t b I 2. This federal law shall enter into force on the day of its official publication.
T s t b I 3. Making nominations to the President of the Bank of Russia in the State Duma is carried out not later than one month from the date of entry into force of this federal law.
Making nominations, the members of the Board of Directors upon recommendation of the Chairman of the Bank of Russia is carried out within one month from the date of appointment of the Chairman of the Bank of Russia.
T s t b I 4. From the date of entry into force of this federal law shall be null and void: the law of the Russian Federation "on the monetary system of the Russian Federation (Gazette of the Congress of people's deputies of the Russian Federation and the Supreme Soviet of the Russian Federation, 1992, no. 43, St. 2406);
Statute of the Central Bank of the RSFSR (Bank of Russia) (statements of the RSFSR Congress of people's deputies and the Supreme Soviet of the RSFSR, 1991, no. 29, article 1012).
T s t b I 5. Article 82 of the Federal law "on the Central Bank of the Russian Federation (Bank of Russia)" will enter into force on July 1, 1996 onwards; the third paragraph of article 80 of the specified Federal law within one year from the date of its entry into force.
(Part two is excluded-the Federal law dated 04.03.98 N 34-FZ)
(Part three-the Federal law is excluded from 04.03.98 N 34-FL) for existing on the date of the entry into force of the Federal law of credit institutions the third paragraph of article 64 the specified federal law will enter into force on January 1, 2000 year, part two of article 69 and part two article 72-with January 1, 1996 year. (Part three, part four, respectively, considered as amended by federal law from 31.07.95 N 120-FZ), the President of the Russian Federation, b. Yeltsin, Kremlin, Moscow April 26, 1995 N 65-FZ