The structure of the Central Bank of the Russian Federation is a single vertical system, which includes several critical links. Which, in fact, form the most important financial institution in the state.
If you build in descending order, then the scheme looks like this - the national banking council, chairman of the Central Bank of the Russian Federation, board of directors, central office. Of course, this is not all. The last “link” includes various organizations, as well as main departments and national banks. They also include cash settlement centers - both main (SRCC) and secondary (RCC). Such a scheme. And now - about each link in detail.
Composition of the National Council (NBS)
This is the pinnacle of the organizational structure of the Central Bank of the Russian Federation. It includes 12 people. Here is how the composition of the NBS is determined:
- Two members are appointed by the Federation Council from among the senators.
- Three are appointed by the president of the country.
- Three more are elected by the State Duma from among the deputies.
- The three are also appointed by the government.
- 12th is the chairman of the Central Bank of the Russian Federation.
What about the appointment of the head, head of the Bank? The Chairman of the Central Bank of the Russian Federation is elected by members of the National Banking Council. Which candidate will get the most votes, that is the position.
NBS Competency
It is definitely worth mentioning, telling about the structure and functions of the Central Bank of the Russian Federation. Here are just a few of the tasks that NBS deals with:
- Consideration of the annual report of the Central Bank.
- Improving the Russian banking system.
- The development of the main directions of monetary policy.
- The participation of the CBR in the capital of credit organizations.
- Implementation of banking supervision and regulation.
- Organization of a settlement system in Russia.
- Implementation of currency control and regulation.
It is important to mention that NBS participants do not receive remuneration for their activities, as they are not employees of the Central Bank of the Russian Federation. The only exception is the chairman.
Head of the Central Bank of the Russian Federation
One cannot but pay a little attention to the chairman of such a significant financial enterprise, considering the management structure of the Central Bank of the Russian Federation.
At the moment, the head is the Honored Economist of Russia - Elvira Sahipzadovna Nabiullina. Since June 24, 2013 she has been holding the post of Chairman of the Central Bank of the Russian Federation.
Elvira Sahipzadovna became the first woman appointed to this post among the countries of the Big Eight. Moreover, on June 24, 2017, most recently, her term has expired. But back in the spring, March 22, Vladimir Vladimirovich Putin again proposed the candidacy of E. S. Nabiullina for a new term.
The chairman has the right:
- Act on behalf of the Central Bank of the Russian Federation, represent its interests in relations with other state authorities, international and other organizations without a power of attorney.
- Act as a leader at meetings of the Board of Directors of the Central Bank.
- Sign regulatory acts, agreements, protocols of the Central Bank.
- To appoint / dismiss deputies, to distribute duties between them, to delegate their powers.
- Give directions and sign orders.
Of course, the chairman is responsible for the activities of the Central Bank of the Russian Federation and the implementation of all functions in accordance with the law.
Board of Directors
In the structure of the Central Bank of the Russian Federation, it occupies an important place. Not surprising, because the board of directors is the highest executive body of this organization. He is responsible for the implementation of all the goals and objectives of the Bank. Here are just a few of the issues on which the board makes decisions:
- Liquidation and creation of organizations / institutions of the Central Bank of the Russian Federation.
- Change in interest rates.
- Participation in the capital of those organizations that support the activities of the Central Bank of the Russian Federation;
- Setting limits on open market operations.
- Approval of mandatory standards for credit organizations (exclusively in accordance with the Federal Law “On the Central Bank”).
- Issue of new banknotes and retirement of obsolete ones.
It should also be noted that it is the board of directors that approves the internal structure of the Central Bank of the Russian Federation, regulations on its divisions, charters, etc.
Central office
This is the main link created to perform the functions of the organization, under the leadership of the Board of Directors of the Central Bank of the Russian Federation. 39 units are included in the structure of the apparatus. Here are some of them:
- Secretariat of the chairman.
- The apparatus of the Central Bank.
- Consolidated Economic Department.
- Central directory of credit histories.
- Central Bank Inspection.
- Department of Law.
- General Directorate of Security and Information Protection.
In addition, (and 32 other other units), the central office also includes several more “links” of such an influential and large-scale structure. These are the repository, operations management, computer center, research institute of banks, technical and educational centers, business and operational management, as well as the editors of an information publication called “Money and Credit”.
Territorial institutions
They belong to the second level of the structure of the main Bank of the country. They do not have legal entity status, since these institutions carry out their activities by proxy on behalf of the Central Bank.
Their rights, of course, are limited. Territorial institutions cannot make normative decisions, or issue bills / sureties / guarantees, unless this is reviewed and approved by the board of directors.
Thus, they only perform part of the functions of the Central Bank in the regions. Their main task is to ensure the unity of the federal policy in the field of financial and credit relations, as well as to control the activities carried out by commercial banks.
Settlement and cash centers
They are part of the notorious territorial institutions. It is customary to distinguish between district, inter-district and head centers. Their task is to carry out interbank settlements and payments. They also service accounts of the Ministry of Finance of the country, off-budget funds, federal treasury bodies, and other structures / persons (but only in those cases stipulated by the Federal Law).
As mentioned at the beginning, there are also head centers. They perform all these functions, but in addition, their obligations include calculations based on the results of operations carried out at the securities market (organized securities market).
By the way, there are still so-called field institutions. In the structure of the Central Bank, this is the lowest link, the third level. But they have their own, separate function, and it consists in servicing the institutions of the Ministry of Defense and military units. This, by the way, gives them a special status. Such institutions are considered military and are staffed by military personnel.
Organization Status
One can not help but say a few words about him, considering the structure of the Central Bank of the Russian Federation. On the one hand, this organization is a legal entity and an object of civil law transactions. But on the other, it is also a state agency, which is endowed with an impressive list of powers, some of which were listed above.
Moreover, the Central Bank performs a number of control and supervisory functions. It is important to note that since 2013, this organization regulates not only the banking sector, but also all the financial markets of our state in principle. It follows that the Central Bank of the Russian Federation is a mega-regulator responsible for many tasks. One of the most important is the development of anti-crisis plans, as well as a program through which the financial sector will be restructured if a crisis occurs.
Studying the structure of the Central Bank of the Russian Federation, the powers of its divisions and other nuances of this topic, it is worth mentioning that, despite its scale and significance, this organization does not belong to the federal bodies of state power. She also does not have the authority to dispose of her property. You should also be aware that state authorities and local governments do not have the right to interfere in any way with the activities carried out by the Central Bank. It is controlled directly by the State Duma and the president.
Central Bank - Bank of banks
This term, no matter how it sounds, has a place to be. And it must be considered, discussing the structure of the Central Bank of the Russian Federation and its governing bodies.
In fact, everything is simple. Each second-tier bank has a personal correspondent account with the Central Bank. What are these businesses? Simply put, everything except the largest credit organizations, which include Sberbank, Gazprom, VTB 24, etc.
So, it is through these accounts that the Central Bank makes all settlement transactions between other banks. If there is a balance, then it is written off to the cash reserve.
But that is not all. Also, the Central Bank constantly lends to commercial banks. If a particular organization has a lack of finances, and its management is not able to attract resources from any other sources, then the main Bank of the country will assist it. Thus, the Central Bank is also a lender of last resort.
Other functions
As can be judged by the scheme, the structure of the Central Bank of the Russian Federation is quite “compact”. But if you paint it in detail, including all the links, you get more than one hundred “branches”. The functions of this organization are especially diverse. It is impossible to list everything, but it’s worth a few more attention. In particular, the function of a government bank.
The Central Bank serves the state. This speaks of several things at once. Firstly, this organization is engaged in operations related to cash execution of the budget. In other words, the Central Bank keeps accounts of the government. In addition, the Bank manages public debt. The Central Bank is the organization that on behalf of the government stores the most important reserves of our country - gold and currency.
An equally important function, which was already mentioned earlier, is maintaining stability in the all-Russian banking system. The Central Bank, in addition to the above, protects the interests of its creditors and depositors, helps to reduce inflation, reduce unemployment and balance the balance of payments.
But the Bank’s main objective is still ensuring the stability of the national currency - the ruble.
About education
Finally - information for those people who in the future would like to connect their activities with the discussed area, and now get acquainted with the structure and functions of the Central Bank of the Russian Federation. GEF has decided - every person who intends to work in this field must unlearn a degree in Banking (02.28.07). It is within its framework that it is possible to learn how to analyze all economic processes and phenomena in the main areas of activity of the Central Bank, and also to thoroughly study all aspects related to it. In every worthy university, several disciplines are reserved for this, one of which, by the way, is called “Structure and Functions of the Central Bank of the Russian Federation”.