The Bank of Russia is the main financial regulator and central bank of the Russian Federation. Established in its modern form in 1990, its history dates back to the State Bank of the Russian Empire founded in 1860. Its primary objectives include maintaining the stability of the ruble, developing and strengthening the Russian banking and financial systems, and ensuring the stability of the national payment system. It holds the exclusive right to issue banknotes and coins, manages the country's international reserves, acts as the lender of last resort for credit institutions, and sets key monetary policy rates.