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Finance and Credit
 

Status and Prospects for the Central Bank Transformation

Vol. 31, Iss. 1, JANUARY 2025

Received: 13 November 2024

Accepted: 11 December 2024

Available online: 30 January 2025

Subject Heading: Banking

JEL Classification: G20, G21

Pages: 4-15

https://doi.org/10.24891/fc.31.1.4

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

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

Subject. The article addresses the dialectics of the Central Bank and the national banking system.
Objectives. The purpose of the study is to analyze the current status of the central bank institution, both in essence and in relation to the legislative framework for its functioning in our country.
Methods. The study employs the method of scientific abstraction, the unity of logical and historical, deduction and induction, organic consistency in the presentation of material, and a number of other general scientific methods.
Results. The paper underpins the need to bring the current status of the Central Bank of the Russian Federation in line with the essence of the modern monetary system, which has a national character, unveils the contours of the monetary market regulation body that can be created on the basis of the institution of the central bank.
Conclusions. The current dominant view of this system is that it exists in parallel with the monetary system, and that the fundamental transformation of the latter due to the decisions of the Jamaican International Monetary Conference, is not a cause of fundamental transformation of the banking system in general and adequate transformation of the central bank institution, in particular. The article critically comprehends this idea.

Keywords: money, monetary resource, monetary system, banking system, central bank

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ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

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