Pavlikov S.G., Vil'skaya N.V. The Bank of Russia: its Status and Activities in a Negative Economic Environment

Abstract: The subject of the study is constitutional and legal status of the Bank Russia which is investigated as to its potential of the government's anti-crisis policy implementation towards overcoming (minimizing) the crisis in the Russian economy in 2015. The main element in monetary relations in Russia is the banking system which main link is the central bank, but its constitutional and legal status is a topic for ongoing debate. The subject of research is analyzed from the perspective of the development of modern Russian constitutionalism and interrelation of economic and legal phenomena. To examine the status of the Bank of Russia, the study uses a set of research methods: dialectical method, particular social and legal studies, comparative law, systemic methods, etc. The study confirms the conclusion that the central bank is a public authority; this judgment is based on the analysis of the RF Constitution, federal laws, and acts of the Constitutional Court of the Russian Federation. A key feature of the constitutional and legal status of the Central Bank is the fact that the CB is a body dedicated to ensure the sustainability of national currency, especially when Russia faces serious economic trouble.

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