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Finance and Credit
 

On the need to transform the Central Bank of the Russian Federation

Vol. 29, Iss. 10, OCTOBER 2023

Received: 3 July 2023

Received in revised form: 27 July 2023

Accepted: 10 August 2023

Available online: 30 October 2023

Subject Heading: INVESTING

JEL Classification: E58

Pages: 2239–2252

https://doi.org/10.24891/fc.29.10.2239

Yurii A. KROPIN Financial University under Government of Russian Federation, Moscow, Russian Federation
YAKropin@fa.ru

https://orcid.org/0000-0001-9478-9660

Subject. This article deals with the issues related to the need to transform the institution of the central bank in the conditions of the modern monetary system, in particular, the Central Bank of the Russian Federation.
Objectives. The article aims to identify scientifically grounded ways of overcoming the existing contradictions in the regulatory framework of the Central Bank of the Russian Federation.
Methods. For the study, I used the methods of deduction and induction, integral sequence, the unity of the historical and the logical, and a number of other scientific methods.
Results. The article makes proposals to overcome the existing contradictions in the activities of the Central Bank of the Russian Federation, in particular, for example, that the Bank of Russia should protect and ensure the stability not of the ruble only, but of the entire monetary system of the country in accordance with the realities of contemporary times.
Relevance. The proposals made can be used as the basis for new regulatory documents regulating the activities of the Bank of Russia, and their implementation can significantly help intensify the economic activities of the Russian Federation.

Keywords: cash, monetary system, central bank, Bank of Russia, market monetary control

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