2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
The Central Bank of Russia is a separate banking organization that is authorized to carry out special state tasks. This is the most common definition, but to be more correct, there is no exact term. Now it is worth dwelling in more detail.
Functions
The Central Bank of Russia plays a huge role in ensuring the financial stability of the national currency. Main Features:
1. Minimizing the amount of inflation over the longest possible period. If translated into simpler language, this means that the Central Bank of Russia must keep price stability at the same level. It is difficult to note a high result in achieving this goal. Zero inflation is the ideal, and therefore a utopia. That is, the value of any commodity in the market remains unchanged. Unfortunately, the reality is harsh. This affects the population of the country to a greater extent. Since the increase in prices is not the planned 2-4 percent, but much more.
2. High control and development in general of the entire financial and banking system of the country. This task involves eliminatingmonopolies in the banking structure. This also includes the issuance of licenses to commercial organizations. After all, only the Central Bank of Russia is authorized in this activity. And you yourself understand that this is a huge responsibility and invaluable work. But, of course, everything is so good only in words. Bureaucracy reigns everywhere in everyday life. Innocent citizens become deceived by commercial firms that have not been properly followed. The other side of the coin refers to legal entities that can really make their interesting proposals to the banking structure. And as a result, the entire process of obtaining a license will take about a year and, of course, with the lion's share of interest that will go to the state treasury. Therefore, sometimes you should not be surprised at crazy interest rates on loans, because private traders are aimed at making a profit, and they have already given a decent amount to the state.
Rights and status
- Entrusted with the right to issue money and regulate the country's money circulation.
- The Bank (and all of its components) is federal property.
- Although the organization is independent of the State Duma, all reporting on the activities of the Central Bank of Russia goes there.
Conclusion
The Central Bank is the backbone of the entire banking structure of our country. The efficiency of this organization is difficult to determine for a person who does not work in this area, so estimates can be taken and analyzed only from the conversations of other people.
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