FEDERAL LAW OF THE RUSSIAN FEDERATION

of July 10, 2002 No. 86-FZ

About the Central bank Russian Federation (Bank of Russia)

Accepted by the State Duma of the Russian Federation on June 27, 2002

Chapter I. General provisions

Article 1. The status, the purposes of activities, function and power of the Central bank of the Russian Federation (Bank of Russia) are determined by the Constitution of the Russian Federation, this Federal Law and other Federal Laws.

Performs the functions and powers provided by the Constitution of the Russian Federation and this Federal Law, the Bank of Russia irrespective of other federal bodies of the government, public authorities of subjects of the Russian Federation and local government bodies.

The Bank of Russia is legal entity. The Bank of Russia has seal with the image of the State Emblem of the Russian Federation and with the name.

The location of the central bodies of the Bank of Russia - the city of Moscow.

Article 2. The authorized capital and other property of the Bank of Russia are federal property. According to the purposes and according to the procedure which are established by this Federal Law the Bank of Russia performs powers on ownership, use and the order of property of the Bank of Russia, including gold and foreign exchange reserves of the Bank of Russia. Withdrawal and encumbrance by obligations of the specified property without the consent of the Bank of Russia are not allowed if other is not provided by the Federal Law.

The state does not answer for obligations the Bank of Russia, and the Bank of Russia - for obligations of the state if they did not assume such obligations or if other is not provided by the Federal Laws.

The Bank of Russia performs the expenses at the expense of own income.

Article 3. The purposes of activities of the Bank of Russia are:

protection and ensuring stability of ruble;

development and strengthening of bank system of the Russian Federation;

ensuring stability and development of national payment system.

development of the financial market of the Russian Federation;

ensuring stability of the financial market of the Russian Federation.

Profit earning is not the purpose of activities of the Bank of Russia.

Article 4. The Bank of Russia performs the following functions:

Develops 1) in interaction with the Government of the Russian Federation and pursues single state monetary policy;

1. Develops 1) in interaction with the Government of the Russian Federation and pursues policy of development and ensuring stability of functioning of the financial market of the Russian Federation;

2) exclusively performs issue of cash and will organize cash circulation;

2. 1) is approved by graphic symbol of ruble in the form of sign;

3) is last resort lender for credit institutions, will organize system of their refinancing;

4) establishes rules of implementation of calculations in the Russian Federation;

4. 1) also observation in national payment system exercises supervision;

4. Will organize 2) and provides functioning of platform of digital ruble;

5) establishes rules of carrying out banking activities;

6) ceased to be valid

7) exercises effective management of gold and foreign exchange reserves of the Bank of Russia;

8) makes the decision on state registration of credit institutions, grants to credit institutions licenses for banking operations, stops their action and recalls them;

8. 1) makes decisions on state registration of non-state pension funds;

9) exercises supervision of activities of credit institutions and banking groups (further - banking supervision);

9. 1) exercises regulation, control and supervision of activities of not credit financial credit institutions according to the Federal Laws;

9. 2) exercises regulation, control and supervision in the sphere of rendering professional services in the financial market according to the Federal Laws;

10) performs registration of releases of issued securities and securities prospectuses, registration of reports on results of releases of issued securities;

10. 1) exercises control and supervision of observance by issuers of requirements of the legislation of the Russian Federation on joint-stock companies and securities;

10. 2) exercises regulation, control and supervision in the sphere of the corporate relations in joint-stock companies;

11) performs independently or at the request of the Government of the Russian Federation all types of the banking activities and other transactions necessary for accomplishment of functions of the Bank of Russia;

Will organize 12) and performs currency control and currency exchange control in accordance with the legislation of the Russian Federation;

13) is determined by procedure of settlings with the international organizations, foreign states, and also with legal entities and physical persons;

14) the chart of accounts of financial accounting for the Bank of Russia and procedure for its application, charts of accounts of financial accounting for credit institutions, not credit financial credit institutions, bureau of credit histories, credit rating agencies and procedure for their application approves industry standards of financial accounting for the Bank of Russia, credit institutions, not credit financial credit institutions, bureau of credit histories, credit rating agencies;

14. 1) ceased to be valid

Establishes 15) and publishes the official rates of foreign currencies in relation to ruble;

16) takes part in development of the forecast of paying balance of the Russian Federation;

16. 1) takes part in development of methodology of creation of the financial account of the Russian Federation in system of national accounts and will organize creation of the financial account of the Russian Federation;

16. 2) will be organized by creation of paying balance of the Russian Federation, the international investment line item of the Russian Federation, foreign trade statistics of the Russian Federation services, external debt of the Russian Federation, the international reserves of the Russian Federation, direct investments to the Russian Federation and direct investments from the Russian Federation abroad;

16. 3) for creation of paying balance of the Russian Federation, the international investment line item of the Russian Federation, foreign trade statistics of the Russian Federation services, external debt of the Russian Federation, the international reserves of the Russian Federation, direct investments to the Russian Federation and direct investments of the Russian Federation abroad independently creates and approves statistical methodology, the list of respondents, forms of federal statistical observation and procedure for creation and provision by respondents of primary statistical data in these forms;

17) ceased to be valid according to the Federal Law of the Russian Federation of 21.11.2011 No. 327-FZ;

18) is carried out by the analysis and forecasting of state of the economy of the Russian Federation, publishes the corresponding materials and statistical data;

18. 1) performs payments of the Bank of Russia for household deposits in the banks declared bankrupt which are not participating in system of compulsory deposit insurance in banks of the Russian Federation, in cases and procedure which are provided by the Federal Law;

18. 2) is depositary of means of the International Monetary Fund in currency of the Russian Federation, performs the transactions and transactions provided by articles of the Agreement of the International Monetary Fund and contracts with the International Monetary Fund;

18. 3) exercises control of observance of requirements of the legislation of the Russian Federation on counteraction to unauthorized use of insider information and to market manipulation;

18. 4) performs protection of the rights and legitimate interests of shareholders and investors in the financial markets, the insurers, insured persons and beneficiaries recognized by those according to the insurance legislation and also insured persons on mandatory pension insurance, investors and members of non-state pension fund on non-state pension provision;

18. 5) is organized by rendering services in transfer of electronic messages on financial transactions (further - financial messages);

18. 6) in interaction with the Government of the Russian Federation realizes actions for increase in level of financial literacy of the population and subjects of small and medium business in the Russian Federation;

18. Develops 7) in interaction with the Government of the Russian Federation and pursues policy on ensuring availability of financial services to the population and subjects of small and medium business in the Russian Federation;

18. 8) performs assessment of degree (level) of risk of making of suspicious transactions by credit institutions, clients of credit institutions - the legal entities (except for credit institutions, state bodies and local government bodies) (individual entrepreneurs) registered in accordance with the legislation of the Russian Federation;

19) performs other functions according to the Federal Laws.

Article 4.1. The Bank of Russia when implementing the functions provided by the Federal Laws shall develop and realize policy on prevention, identification and conflict management of interests.

Article 5. The Bank of Russia is accountable to the State Duma of Federal Assembly of the Russian Federation.

State Duma:

appoints to position and dismisses the Chairman of the Bank of Russia on representation of the President of the Russian Federation;

appoints to position and dismisses board members of the Bank of Russia (further - the Board of directors) on the representation of the Chairman of the Bank of Russia approved with the President of the Russian Federation;

directs and recalls representatives of the State Duma in National financial council within the quota;

considers the main directions of single state monetary policy and makes in them the decision;

considers the annual statement of the Bank of Russia and makes on it the decision;

makes the decision on check by Audit Chamber of the Russian Federation of financial and economic activities of the Bank of Russia, its structural divisions and organizations. The specified decision can be made only based on the offer of National financial council;

carries out parliamentary hearings about activities of the Bank of Russia with participation of his representatives;

hears reports of the Chairman of the Bank of Russia on activities of the Bank of Russia (in case of submission of the annual statement and the main directions of single state monetary policy).

The Bank of Russia represents to the State Duma and to the President of the Russian Federation information according to the procedure, established by the Federal Laws.

Article 6. The Bank of Russia has the right to turn with claims to the courts according to the procedure, determined by the legislation of the Russian Federation.

The Bank of Russia has the right to turn for protection of the interests to international courts, courts of foreign states and reference tribunals.

Article 6.1. The Bank of Russia has the right to take a legal action with administrative actions for declaration about recognition placed in information and telecommunication networks, including in Internet network, information specified in part fifteen of article 30 of the Federal law "About Banks and Banking Activity", part 1.1 of article 27 of the Federal Law of June 27, 2011 to No. 161-FZ "About national payment system" or Item 6.2 of article 51 of the Federal Law of April 22, 1996 No. 39-FZ "About the security market", information which distribution in the Russian Federation is forbidden.

Article 6.2. The chairman of the Bank of Russia or its deputies has the right to send to the Prosecutor General's Office of the Russian Federation the notification on distribution in information and telecommunication networks, including in Internet network:

1) information on possibility of receipt of banking services, insurance services, services in the security market, and also the services connected with attraction and (or) placement of money of legal entities and physical persons, the Russian Federation extended with violation of the law, the governing relation in the financial market and containing data on receipt of the specified services from persons who do not have the right to their rendering in accordance with the legislation of the Russian Federation;

2) information inducing to participation in activities for attraction of money and (or) other property of physical persons and (or) legal entities in case of which payment of the income and (or) provision of other benefit to persons whose money and (or) other property are attracted earlier, are performed at the expense of borrowed funds and (or) other property of other physical persons and (or) legal entities in the absence of investing and (or) other legal business or other activities which are connected with use of borrowed funds and (or) other property and for which the criminal or administrative responsibility is provided.

Article 7. The Bank of Russia on the questions carried to its competence by this Federal Law and other Federal Laws publishes in the form of instructions, provisions and instructions the regulations obligatory for federal bodies of the government, public authorities of subjects of the Russian Federation and local government bodies, all legal entities and physical persons.

Rules of preparation of regulations of the Bank of Russia are established by the Bank of Russia independently.

Regulations of the Bank of Russia become effective after 10 days after day of their official publication, except as specified, of the regulations of the Bank of Russia established by the Board of directors, and except for specified in part five of this Article. Official publication of the regulation of the Bank of Russia the first publication of its complete text in the official publication of the Bank of Russia - "The Bulletin of the Bank of Russia" or the first placement (publication) on the official site of the Bank of Russia on the Internet (www.cbr.ru) is considered. Regulations of the Bank of Russia have no retroactive force.

Regulations of the Bank of Russia shall be registered according to the procedure, established for state registration of regulatory legal acts of federal executive bodies.

Are not subject to state registration and the regulations of the Bank of Russia establishing become effective according to the procedure provided in them:

paragraph two of ceased to be valid according to the Federal Law of the Russian Federation of 07.03.2018 No. 53-FZ

interest rate realignment;

size of mandatory reserve requirements (standard rates of required reserves, coefficient of averaging of required reserves);

the sizes of obligatory standard rates for credit institutions and banking groups, and also for not credit financial credit institutions according to this Federal Law and other Federal Laws;

direct quantitative restrictions;

industry standards of financial accounting for the Bank of Russia, the chart of accounts of financial accounting for the Bank of Russia and procedure for its application;

procedure for ensuring functioning of system of the Bank of Russia.

According to the procedure established for federal executive bodies other regulations of the Bank of Russia can also not be subject to registration.

 The part seven of Article 7 voided according to the Federal Law of the Russian Federation of 23.07.2013 No. 251-FZ.

Regulations of the Bank of Russia can be appealed in court according to the procedure, established for contest of regulatory legal acts of federal bodies of the government.

The drafts of the Federal Laws, and also regulatory legal acts of federal executive bodies concerning accomplishment of the functions by the Bank of Russia go to the conclusion to the Bank of Russia.

Article 7.1. The Bank of Russia establishes procedure for provision by credit institutions and not credit financial credit institutions to citizens of data on availability of accounts and other information necessary for submission by citizens of data on the income, expenses, about property and obligations of property nature, and also according to the offer of the federal executive body performing functions on development and realization of state policy and normative legal regulation in the sphere of work and the public civil service approves single form of provision of data on availability of accounts and other information necessary for submission by citizens of data on the income, expenses, of property and obligations of property nature, and procedure for its filling.

Article 8. The Bank of Russia has no right to participate in the capitals of credit institutions if other is not established by the Federal Laws.

Action of part one of this Article does not extend to participation of the Bank of Russia in the capital of Savings bank of the Russian Federation (further - Sberbank).

The reduction or alienation of share of the Bank of Russia in the authorized capital of Sberbank which is not leading to reducing the specified share to level less than 50 percent plus one voting share is performed by the Bank of Russia in coordination with the Government of the Russian Federation.

The reduction or alienation of share of the Bank of Russia in the authorized capital of Sberbank leading to reducing the specified share to level less than 50 percent plus one voting share is performed based on the Federal Law.

The Bank of Russia has no right to participate in the capitals or to be the member of other commercial or non-profit organizations if they do not provide activities of the Bank of Russia, its organizations, organizations and serving, except as specified, established by the Federal Laws.

Action of parts one and the fifth this Article does not extend to the transactions of the Bank of Russia in the public market made according to article 39 of this Federal Law.

The Bank of Russia for the purpose of ensuring stability of ruble has the right to create and participate in the capital of the organization performing activities for trust management of assets of the Bank of Russia and also the assets transferred in its management of the Russian Federation, the state corporations created by the Russian Federation, and other public legal entities or the organizations including foreign for implementation of investments in the Russian Federation and (or) in foreign states.

Provisions of Chapter XI of the Federal Law of December 26, 1995 No. 208-FZ "About joint-stock companies" are not applied to the transactions made by the Bank of Russia with credit institutions for the purpose of realization of single state monetary policy provided by Articles 39, of 40, 44 presents of the Federal Law.

The Bank of Russia based on the solution of the Board of directors has the right to deposit money and (or) other property, including real estate, as property fee of the Bank of Russia in property of the "Deposit Insurance Agency" state corporation.

Article 9. The Bank of Russia can participate in the capitals of the international organizations which are engaged in development of cooperation in monetary, currency, bank spheres and other spheres of the financial market.

The Bank of Russia can participate in activities of the international organizations which are engaged in development of cooperation in monetary, currency, bank spheres and other spheres of the financial market, including development of cooperation between Central Banks and (or) the relevant regulating (supervising) organs (organizations), and also to participate in activities of the associations which do not have the status of the organization (including forums, groups, committees).

Relations of the Bank of Russia with credit institutions of foreign states are performed according to international treaties of the Russian Federation, the Federal Laws, and also with interbank agreements.

Article 9.1. When implementing assessment of degree (level) of risk of making of suspicious transactions by clients of credit institutions - the legal entities (except for credit institutions, state bodies and local government bodies) (individual entrepreneurs) registered in accordance with the legislation of the Russian Federation the Bank of Russia carries each such legal entity (each such individual entrepreneur) to one of three risk groups of making of suspicious transactions depending on the following degrees (levels) of risk of making of suspicious transactions by it:

1) low degree (level) of risk of making of suspicious transactions;

2) average degree (level) of risk of making of suspicious transactions;

3) high degree (level) of risk of making of suspicious transactions.

The purposes of reference of the legal entities (except for credit institutions, state bodies and local government bodies) (individual entrepreneurs) registered in accordance with the legislation of the Russian Federation to risk groups of making of suspicious transactions are:

1) protection against use of infrastructure of the financial market of the Russian Federation for the purpose of making of financial transactions in the illegal purposes;

2) creation of conditions for free carrying out financial transactions of legal entities (individual entrepreneurs) carried to group of low degree (level) of risk of making of suspicious transactions;

3) improvement of quality of assessment by credit institutions of degree (level) of risk of making of suspicious transactions by clients - legal entities (individual entrepreneurs);

4) cost reduction of the business entities and credit institutions connected with accomplishment of requirements of the legislation of the Russian Federation by credit institutions about counteraction of legalization (washing) of income gained in the criminal way and to terrorism financing;

5) ensuring protection of the rights and legitimate interests of clients of credit institutions - legal entities (individual entrepreneurs) when implementing of internal control by credit institutions in accordance with the legislation of the Russian Federation about counteraction of legalization (washing) of income gained in the criminal way and to terrorism financing.

Assessment of degree (level) of risk of making of suspicious transactions by clients of credit institutions - the legal entities (except for credit institutions, state bodies and local government bodies) (individual entrepreneurs) registered in accordance with the legislation of the Russian Federation is performed by the Bank of Russia on the basis of the principles of openness and availability of information on reference of such clients to risk groups of making of suspicious transactions.

The Bank of Russia carries the legal entities (except for credit institutions, state bodies and local government bodies) (individual entrepreneurs) registered in accordance with the legislation of the Russian Federation to risk groups of making of suspicious transactions based on criteria which are determined by the Bank of Russia in coordination with the federal executive body performing functions on counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction and affirm the Board of directors.

The criteria specified in part four of this Article are based on information on types and nature of activities of the legal entities (except for credit institutions, state bodies and local government bodies) (individual entrepreneurs) registered in accordance with the legislation of the Russian Federation on transactions on their accounts in credit institutions, their founders (participants) and heads, affiliation with other legal entities (individual entrepreneurs) making suspicious transactions about the number of bank accounts (deposits, deposits), on the results of national risks assessment and sectoral risks assessment which are carried out according to the Federal Law of August 7, 2001 No. 115-FZ "About counteraction of legalization (washing) of income gained in the criminal way and to terrorism financing" and also on information arriving from state bodies, and other information.

The Bank of Russia has the right to post on the official site on the Internet information on reference of the legal entities (except for credit institutions, state bodies and local government bodies) (individual entrepreneurs) registered in accordance with the legislation of the Russian Federation to risk groups of making of suspicious transactions which has help character for users of this information. The structure of this information and procedure for access to it are established by the regulation of the Bank of Russia.

The concept "suspicious transactions" used in Article 4, to this article and article 18 of this Federal Law is applied in that value in what it is used in the Federal Law of August 7, 2001 No. 115-FZ "About counteraction of legalization (washing) of income gained in the criminal way and to terrorism financing".

Head of II. Capital of the Bank of Russia

Article 10. The Bank of Russia has the authorized capital in the amount of 3 billion rubles.

Article 11. The profit of the Bank of Russia is determined as difference between the amount of the income from stipulated by the legislation the Russian Federation, including this Federal Law, banking activities and transactions, the income from participation in the capitals of the organizations and other income from activities of the Bank of Russia and expense amount connected with implementation of the functions by the Bank of Russia, the stipulated in Clause 4 presents of the Federal Law, including the expenses connected with ensuring activities of the Bank of Russia, its organizations and employees.

Chapter III. National financial council and governing bodies of the Bank of Russia

Article 12. National financial council - collegiate organ of the Bank of Russia.

The number of National financial council constitutes 12 people from whom two go the Federation Council of Federal Assembly of the Russian Federation from among senators of the Russian Federation, three - the State Duma from among deputies of the State Duma, three - the President of the Russian Federation, three - the Government of the Russian Federation. Also the Chairman of the Bank of Russia is part of National financial council.

The response of members of National financial council is performed by the public authority which sent them to structure of National financial council.

Members of National financial council, except for the Chairman of the Bank of Russia, do not work in the Bank of Russia at permanent basis and do not receive payment for these activities.

The chairman of National financial council is elected members of National financial council from their number by a majority vote from total number of members of National financial council.

The chairman of National financial council performs the common directorship of its activities, presides over its meetings. In case of absence of the Chairman of National financial council its functions are performed by the deputy elected from among members of National financial council by a majority vote from total number of members of National financial council.

Decisions of National financial council are made by a majority vote from number of the present members of National financial council in case of quorum in seven people.

In case of adoption of decisions by National financial council the opinion of the members of National financial council who appeared in minority is entered according to their requirement in the minutes of National financial council.

In case of equality of votes the voice of the National financial council presiding over meeting is decisive.

National financial council sits at least once a quarter.

Meetings of National financial council are appointed by the Chairman of National financial council or in case of absence of the Chairman of National financial council his deputy, and also upon the demand of the Chairman of the Bank of Russia or at least three members of National financial council.

Members of National financial council are timely notified on meeting of National financial council.

Article 13. Enters competence of National financial council:

1) consideration of the annual statement of the Bank of Russia and the annual activities report of "Managing Company of Fund of Consolidation of Banking Sector" limited liability company (further also - Managing company);

2) approval on the basis of proposals of the Board of directors for the next year no later than December 15 of prior year:

total amount of maintenance costs of bank clerks of Russia;

total amount of expenses on provision of pensions, life insurance and medical insurance of bank clerks of Russia;

total amount of the capital investments;

total amount of other administrative expenses;

3) approval if necessary on the basis of proposals of the Board of directors of additional expenses on content of bank clerks of Russia, additional expenses on provision of pensions, life insurance and medical insurance of bank clerks of Russia, additional capital investments, and also approval of other additional administrative expenses;

4) consideration of questions of development and enhancement of the financial market of the Russian Federation, enhancement of bank system of the Russian Federation;

5) consideration of the project of the main directions of single state monetary policy and main directions of single state monetary policy;

6) the solution of the questions connected with participation of the Bank of Russia in the capitals of credit institutions;

7) appointment of the chief auditor of the Bank of Russia and consideration of its reports;

8) quarterly consideration of information of the Board of directors on the main questions of activities of the Bank of Russia:

realization of the main directions of single state monetary policy;

bank regulation and banking supervision, including information on activities of the authorized representatives appointed in credit institution in cases, provided by part one of article 76 of this Federal Law, regulation, control and supervision of activities of not credit financial credit institutions, persons rendering professional services in the financial market;

realization of policy of currency control and currency exchange control;

ensuring stability and development of national payment system;

execution of expense budget of the Bank of Russia;

preparation of drafts of legal acts and other regulations in the field of development and ensuring stability of functioning of the financial market of the Russian Federation;

9) determination of auditing organization for carrying out statutory audit of the annual financial reporting of the Bank of Russia;

9. 1) assessment of independence of auditing organizations in the case specified in Item 9 of this Article and also when carrying out statutory audit of the annual financial reporting of the Bank of Russia and (or) audit of accounting (financial) records of the organizations which share of the Bank of Russia in the capital exceeds 50 percent, qualities of carrying out such audit. National financial council has the right to request from the relevant auditing organizations information necessary for consideration of the questions provided by this Item and Item 9 of this Article. For discussion of the questions provided by this Item and Item 9 of this Article, National financial council can invite representatives of the relevant auditing organizations to the meetings, and also attract independent consultants (experts) to preparation of materials and recommendations about the specified questions. National financial council considers information which arrived from the auditing organizations which are carrying out or booking within the last three years statutory audit of the annual financial reporting of the Bank of Russia and (or) audit of accounting (financial) records of the organizations which share of the Bank of Russia in the capital exceeds 50 percent about actions of bank clerks of Russia which influence or can affect independence of the relevant auditing organization;

10) approval according to the proposal of the Board of directors of industry standards of financial accounting for the Bank of Russia, the chart of accounts of financial accounting for the Bank of Russia and procedure for its application;

10. 1) consideration of the policy on prevention, identification and conflict management of interests provided by the Board of directors when implementing by the Bank of Russia of the functions provided by the Federal Laws and making recommendations about the specified policy;

11) entering into the State Duma of offers on conducting check by Audit Chamber of the Russian Federation of financial and economic activities of the Bank of Russia, its structural divisions and organizations;

12) approval according to the proposal of the Board of directors of procedure for forming of provisions of the Bank of Russia and procedure for profit distribution of the Bank of Russia, being at the command the Bank of Russia;

13) approval according to the proposal of the Board of directors of the expense statement of the Bank of Russia on content of bank clerks of Russia, provision of pensions, life insurance and medical insurance of bank clerks of Russia, the capital investments and other administrative needs.

14) consent to board members, and also citizens within two years from the date of the termination of their powers as board members on holding the posts in cases, stipulated in Clause the 90th this Federal Law.

15) consent on appointment of sole executive body of the operator of the National Payment Card System;

16) consideration of the development strategy of the National Payment Card System and making recommendations about the specified strategy;

17) consideration of the project of the main directions of development of the financial market of the Russian Federation and making recommendations about the specified project.

Article 14. The chairman of the Bank of Russia is appointed to position by the State Duma for a period of five years by a majority vote from total number of deputies of the State Duma.

The candidacy for position assignment of the Chairman of the Bank of Russia is presented by the President of the Russian Federation not later than three months before the expiration of powers of the acting Chairman of the Bank of Russia.

The citizen of the Russian Federation who does not have nationality (citizenship) of the foreign state or the residence permit or other document confirming the right to permanent residence of the citizen of the Russian Federation in the territory of foreign state can be appointed to position of the Chairman of the Bank of Russia.

In case of early release from position of the Chairman of the Bank of Russia the President of the Russian Federation submits the candidate for this position within two weeks from the date of the specified release.

In case of variation of the candidacy proposed for position of the Chairman of the Bank of Russia the President of the Russian Federation within two weeks makes the new nomination. The same nomination cannot be made more than two times.

The same person more than three terms in a row cannot hold position of the Chairman of the Bank of Russia.

The State Duma has the right to dismiss the Chairman of the Bank of Russia on representation of the President of the Russian Federation.

The chairman of the Bank of Russia can be dismissed only in cases:

expirations of powers;

the impossibility of performance of service duties confirmed with the conclusion of the state medical commission;

submissions of the application in person about resignation;

making of the penal act established by the court verdict which took legal effect;

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