Importance The article considers assets and liabilities reported in the balance sheets of central banks within the Eurasian Economic Union from 2006 to 2015 and presents the analysis of these balance sheets under a new reality. Objectives The aim is to define the specifics of creating money by central banks of the Eurasian Economic Union from the perspective of providing liquidity and absorbing the money supply. Methods The study employs various methods of structural and horizontal analysis at the present stage of integration processes development in the EAEU countries. The analysis of the central banks' balance sheets focuses on identifying the continuity and differences in the mechanisms for monetary policy implementation. Results The analysis shows that the structure of assets and liabilities of the EAEU central banks differ significantly, thus impeding the integration-based monetary policy implementation. Loan relations between the States and central banks are weak, except for crisis periods. Credit and deposit relations between different levels of the banking system are underdeveloped. Conclusions and Relevance To reduce the dollarization of economies, it is more reasonable to partially shift to the reservation of ruble and tenge by using first-class debt obligations of the economies of Russia and Kazakhstan. This would be more conducive to integration processes and real cooperation, which would contribute to integration processes and real cooperation.
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