Bank of Russia

Basic Information

The Bank of Russia, officially known as the Central Bank of the Russian Federation (CBR), serves as the central bank and primary financial regulator of Russia. Established on July 13, 1990, it operates under the Constitution of Russia (Article 75) and federal laws, ensuring monetary stability and overseeing financial institutions. The bank is headquartered at 12 Neglinnaya Street, Moscow, with a key role in issuing the Russian ruble (RUB) and maintaining financial system integrity.

Historical Background

The Bank of Russia traces its origins to the State Bank of the Russian Empire, founded in 1860. After the dissolution of the USSR in 1991, it assumed the functions of the former Soviet banking system. Key milestones include the 1998 financial crisis, the 2013 expansion of regulatory powers to become a “mega-regulator” of financial markets, and recent measures such as capital controls and interest rate hikes in response to economic sanctions post-2022.

Legal Authority & Regulatory Framework

The CBR operates under Federal Law No. 86-FZ “On the Central Bank of the Russian Federation,” granting it autonomy in monetary policy. Since 2016, it has regulated Forex brokers under Law No. 460-FZ, enforcing licensing, capital requirements (min. RUB 100M), and leverage limits (1:50). The bank also supervises traditional banking, insurance, and securities markets, with powers to revoke licenses for non-compliance.

Core Responsibilities & Regulatory Scope

The Bank of Russia’s mandates include:

• Monetary policy implementation (e.g., setting key rates, currently 21% as of April 2025)
• Currency exchange regulation, including official RUB/USD and RUB/EUR rate calculations
• Banking supervision and anti-fraud measures (e.g., Fincult financial literacy project)
• Forex market oversight, including broker licensing and SRO accreditation
• Management of international reserves (US$608.2B as of 2022)

Contact Information

Headquarters Address: 12 Neglinnaya Street, Moscow, 107016, Russia
Phone: +7 499 300-30-00 (international), 8 800 300-30-00 (domestic toll-free)
Website: cbr.ru (available in English and Russian)
Press Service: Mandatory attribution required for media use of CBR materials

Verification of Regulated Entities

To confirm a Forex broker or financial institution’s CBR authorization:

1. Visit the official Bank of Russia website (cbr.ru)
2. Navigate to the “Financial Markets” section
3. Access the “Register of Financial Market Participants”
4. Search by company name or license number
5. Verify compliance with current regulations (e.g., SRO membership, capital adequacy)