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Central Bank Of The Russian Federation
The Central Bank of the Russian Federation (CBR; ), doing business as the Bank of Russia (russian: Банк России}), is the central bank of the Russian Federation. The bank was established on July 13, 1990. The predecessor of the bank can be traced back to the State Bank of the Russian Empire founded in 1860. The bank is headquartered on Neglinnaya Street in Moscow. Its functions are described in the Constitution of Russia (Article 75) and in federal law. History State Bank of the Russian Empire The decision to create a State Bank of the Russian Empire was made by Emperor Peter III in May 1762, which was modeled on Bank of England and would have the right to issue bank notes. However, due to the coup on 28 June 1762 and the murder of the Czar, the project was not implemented. The outbreak in 1768 of the Russian-Turkish War and deficit of the state budget forced Catherine II, in turn, refer to the idea of issuing a paper money, and in December 1768 she formed the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Russia
Russia (, , ), or the Russian Federation, is a List of transcontinental countries, transcontinental country spanning Eastern Europe and North Asia, Northern Asia. It is the List of countries and dependencies by area, largest country in the world, with its internationally recognised territory covering , and encompassing one-eighth of Earth's inhabitable landmass. Russia extends across Time in Russia, eleven time zones and shares Borders of Russia, land boundaries with fourteen countries, more than List of countries and territories by land borders, any other country but China. It is the List of countries and dependencies by population, world's ninth-most populous country and List of European countries by population, Europe's most populous country, with a population of 146 million people. The country's capital and List of cities and towns in Russia by population, largest city is Moscow, the List of European cities by population within city limits, largest city entirely within E ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of England
The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the English Government's banker, and still one of the bankers for the Government of the United Kingdom, it is the world's eighth-oldest bank. It was privately owned by stockholders from its foundation in 1694 until it was nationalised in 1946 by the Attlee ministry. The Bank became an independent public organisation in 1998, wholly owned by the Treasury Solicitor on behalf of the government, with a mandate to support the economic policies of the government of the day, but independence in maintaining price stability. The Bank is one of eight banks authorised to issue banknotes in the United Kingdom, has a monopoly on the issue of banknotes in England and Wales, and regulates the issue of banknotes by commercial banks in Scotland and Northern Ireland. The Bank's Monetary Policy Committee has devolved responsibility for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banknotes
A banknote—also called a bill (North American English), paper money, or simply a note—is a type of negotiable instrument, negotiable promissory note, made by a bank or other licensed authority, payable to the bearer on demand. Banknotes were originally issued by commercial banks, which were legally required to Redemption value, redeem the notes for legal tender (usually gold or silver coin) when presented to the chief cashier of the originating bank. These commercial banknotes only traded at face value in the market served by the issuing bank. Commercial banknotes have primarily been replaced by national banknotes issued by central banks or monetary authority, monetary authorities. National banknotes are often – but not always – legal tender, meaning that courts of law are required to recognize them as satisfactory payment of money debts. Historically, banks sought to ensure that they could always pay customers in coins when they presented banknotes for payment. This p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lender Of Last Resort
A lender of last resort (LOLR) is the institution in a financial system that acts as the provider of liquidity to a financial institution which finds itself unable to obtain sufficient liquidity in the interbank lending market when other facilities or such sources have been exhausted. It is, in effect, a government guarantee to provide liquidity to financial institutions. Since the beginning of the 20th century, most central banks have been providers of lender of last resort facilities, and their functions usually also include ensuring liquidity in the financial market in general. The objective is to prevent economic disruption as a result of financial panics and bank runs spreading from one bank to the others due to a lack of liquidity in the first one. There are varying definitions of a lender of last resort, but a comprehensive one is that it is "the discretionary provision of liquidity to a financial institution (or the market as a whole) by the central bank in reaction ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
License
A license (or licence) is an official permission or permit to do, use, or own something (as well as the document of that permission or permit). A license is granted by a party (licensor) to another party (licensee) as an element of an agreement between those parties. In the case of a license issued by a government, the license is obtained by applying for it. In the case of a private party, it is by a specific agreement, usually in writing (such as a lease or other contract). The simplest definition is "A license is a promise not to sue," because a license usually either permits the licensed party to engage in an activity which is illegal, and subject to prosecution, without the license (e.g. fishing, driving an automobile, or operating a broadcast radio or television station), or it permits the licensed party to do something that would violate the rights of the licensing party (e.g. make copies of a copyrighted work), which, without the license, the licensed party could be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking In Russia (regulations)
Banking in Russia is subject to significant regulations as banks in the Russian Federation have to meet mandatory Russian legislation requirements, and comply with numerous Bank of Russia instructions and regulations. History Soviet period Until 1986, the USSR banking system included 4 components: Stroybank, Vneshtorgbankand, Mrudesberkass and Gosbank. Perestroika Perestroika reforms affected the banking system. In June 1987, a plenum of the Central Committee of the CPSUs took place, where it was decided to improve the system. In July 1987, the Central Committee of the CPSU and the "Council of Ministers of the USSR made Resolution No. 821 "On improving the system of banks in the country and strengthening their impact on improving the efficiency of the economy. The creation of banks on a commercial basis was permitted by the Law "On Cooperation in the USSR", adopted on May 26, 1988. As part of Mikhail Gorbachev's perestroika program, other banks were formed, including; "Promstr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foreign Currency
A currency, "in circulation", from la, currens, -entis, literally meaning "running" or "traversing" is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general definition is that a currency is a ''system of money'' in common use within a specific environment over time, especially for people in a nation state. Under this definition, the British Pound Sterling (£), euros (€), Japanese yen (¥), and U.S. dollars (US$)) are examples of (government-issued) fiat currencies. Currencies may act as stores of value and be traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are either chosen by users or decreed by governments, and each type has limited boundaries of acceptance - i.e. legal tender laws may require a particular unit of account for payments to government agencies. Other definitions of the term "curre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foreign Exchange Market
The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all aspects of buying, selling and exchanging currencies at current or determined prices. In terms of trading volume, it is by far the largest market in the world, followed by the credit market. The main participants in this market are the larger international banks. Financial centers around the world function as anchors of trading between a wide range of multiple types of buyers and sellers around the clock, with the exception of weekends. Since currencies are always traded in pairs, the foreign exchange market does not set a currency's absolute value but rather determines its relative value by setting the market price of one currency if paid for with another. Ex: USD 1 is worth X CAD, or CHF, or JPY, etc. The foreign exchange market works thro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Legal Entity
In law, a legal person is any person or 'thing' (less ambiguously, any legal entity) that can do the things a human person is usually able to do in law – such as enter into contracts, sue and be sued, own property, and so on. The reason for the term "''legal'' person" is that some legal persons are not people: companies and corporations are "persons" legally speaking (they can legally do most of the things an ordinary person can do), but they are not people in a literal sense. There are therefore two kinds of legal entities: human and non-human. In law, a human person is called a ''natural person'' (sometimes also a ''physical person''), and a non-human person is called a ''juridical person'' (sometimes also a ''juridic'', ''juristic'', ''artificial'', ''legal'', or ''fictitious person'', la, persona ficta). Juridical persons are entities such as corporations, firms (in some jurisdictions), and many government agencies. They are treated in law as if they were persons. Whil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supreme Soviet Of Russia
The Supreme Soviet of the Russian Soviet Federative Socialist Republic, Russian SFSR (russian: Верховный Совет РСФСР, ''Verkhovny Sovet RSFSR''), later Supreme Soviet of the Russia, Russian Federation (russian: Верховный Совет Российской Федерации, ''Verkhovny'' ''Sovet Rossiyskoy Federatsii'') was the supreme government institution of the Russian SFSR in 1938–1990; in 1990–1993 it was a permanent legislature (parliament), elected by the Congress of People's Deputies of Russia, Congress of People's Deputies of the Russian Federation. The Supreme Soviet of the Russian SFSR was established to be similar in structure to the Supreme Soviet of the Soviet Union, Supreme Soviet of the USSR in 1938, instead of the All-Russian Congress of Soviets as the highest organ of power of Russia. In the 1940s, the Supreme Soviet Presidium and the Council of Ministers of the Russian SFSR were located in the former mansion of counts Osterman (st ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alexander II Of Russia
Alexander II ( rus, Алекса́ндр II Никола́евич, Aleksándr II Nikoláyevich, p=ɐlʲɪˈksandr ftɐˈroj nʲɪkɐˈlajɪvʲɪtɕ; 29 April 181813 March 1881) was Emperor of Russia, Congress Poland, King of Poland and Grand Duke of Finland from 2 March 1855 until Assassination of Alexander II of Russia, his assassination in 1881. Alexander's most significant reform as emperor was the emancipation reform of 1861, emancipation of Serfdom in Russia, Russia's serfs in 1861, for which he is known as Alexander the Liberator ( rus, Алекса́ндр Освободи́тель, r=Aleksándr Osvobodytel, p=ɐlʲɪˈksandr ɐsvəbɐˈdʲitʲɪlʲ). The tsar was responsible for other reforms, including reorganizing the judicial system, setting up elected local judges, abolishing corporal punishment, promoting local self-government through the ''zemstvo'' system, imposing universal military service, ending some privileges of the nobility, and promoting university e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ukaz
In Imperial Russia, a ukase () or ukaz (russian: указ ) was a proclamation of the tsar, government, or a religious leader (patriarch) that had the force of law. "Edict" and "decree" are adequate translations using the terminology and concepts of Roman law. From the Russian term, the word ''ukase'' has entered the English language with the meaning of "any proclamation or decree; an order or regulation of a final or arbitrary nature". History Prior to the 1917 October Revolution, the term applied in Russia to an edict or ordinance, legislative or administrative, having the force of law. A ukase proceeded either from the emperor or from the senate, which had the power of issuing such ordinances for the purpose of carrying out existing decrees. All such decrees were promulgated by the senate. A difference was drawn between the ukase signed by the emperor’s hand and his verbal ukase, or order, made upon a report submitted to him. After the Revolution, a government proclamation o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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