The Central Bank of the Russian Federation (CBR; ), doing business as the Bank of Russia (), 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 State Assignation Bank, which existed until 1818 and was replaced by the State Commercial Bank, but the first central banking body in Russia was established on as The State Bank (GosBank) of the Russian Empire () which was formed on the base of the State Commercial Bank by ukaz of Emperor Alexander II. This ukaz also ratified the statutes of the bank. According to the statutes, it was a state-owned bank, intended for short-term credit of trade and industry. In early 1917 the bank had eleven branches, 133 permanent and five temporary offices and 42 agencies. On 7 November 1917 the Russian State Bank was disestablished and replaced by The People's Bank which existed until the establishment of the Soviet Gosbank. State Bank of the Soviet Union The Central Bank of the Russian Federation The Central Bank of the Russian Federation (Bank of Russia) was established 13 July 1990 as a result of the transformation of the Russian Republican Bank of the State Bank of the USSR. It was accountable to the Supreme Soviet of the RSFSR. On 2 December 1990, the Supreme Soviet of the RSFSR passed the Law on the Central Bank of the Russian Federation (Bank of Russia), according to which the Bank of Russia has become a legal entity, the main bank of the RSFSR and was accountable to the Supreme