As the central bank of the Russian Federation, the Bank of Russia operates as a special public legal entity with exclusive authority to issue currency. Its primary objectives are to protect and ensure the stability of the ruble, develop and strengthen the Russian banking system, and ensure the stability and development of the national payment system and financial market. Established in its modern form in 1990, its history dates back to the State Bank of the Russian Empire founded in 1860. It performs the functions of chief coordinator and regulator of Russia's entire financial sector.