Subject Reserves of the Central Bank are designated to finance the balance of payments in case of its shortage, intervene into currency markets so as to influence the foreign exchange rate and otherwise. Assets management should mitigate the credit risk and interest risk. Liquidity of such assets during sanctions became a special topic to discuss. Objectives The article provides my own interpretation of methods for managing reserve assets of the Central Bank during developments in the economic situation. Methods My recommendations are substantiated, verified and proved with techniques for grouping, sampling, comparison and generalization, evolutionary and dynamic analysis. Results The article reviews key issues and solutions concerning the design of foreign exchange reserves of the Central Bank in line with global trends. Whilst some restrictions became especially stringent in 2018, certain actions were undertaken to reshape the structure, though their efficiency is questionable. There is undeniable evidence that some solutions are ineffective. Conclusions and Relevance In 2018, sanctions against the Russian private and public entities were tightened. Foreseeing the reserve freeze which the Central Bank held in the U.S. treasury stocks, it had to opt for other currencies, being guided by political, rather than economic, motives.
Nazarova E.V., Sycheva E.I., Egorova N.E. et al. Teoretiko-metodologicheskie aspekty innovatsionnoi deyatel'nosti organizatsii: monografiya [Theoretical and methodological aspects of corporate innovative activity: a monograph]. Moscow, Moscow Region State University Publ., 2016, 312 p.
Nazarova E.V. [Globalization of financial markets: Content and trends]. Vestnik Moskovskogo gosudarstvennogo oblastnogo universiteta. Seriya: Ekonomika = Bulletin of the Moscow Region State University. Series: Economics, 2016, no. 4, pp. 32–40. (In Russ.)
Zelenskii S.Yu., Komarova T.V. [Types and stages of M&A]. Molodoi uchenyi = Young Scientist, 2014, no. 19, pp. 304–306. (In Russ.)
Glaz'ev S.Yu. [Sanctions of the USA and the policy of Bank of Russia: Double blow to the national economy]. Voprosy Ekonomiki, 2014, no. 9, pp. 13–29. (In Russ.) URL: Link
Nikulina O.V. [Research into the efficiency of the Central Bank of Russia's tools for monetary regulation of the national economy]. Ekonomika: teoriya i praktika = Economics: Theory and Practice, 2018, no. 1, pp. 57–65. (In Russ.)
Kudrin A., Goryunov E., Trunin P. [Stimulative monetary policy: Myths and reality]. Voprosy Ekonomiki, 2017, no. 5, pp. 5–28. (In Russ.) URL: Link
Abramova M.A., Dubova S.E., Krasavina L.N. et al. [Key aspects of modern Russian monetary policy: Expert opinion]. Ekonomika. Nalogi. Pravo = Economics, Taxes & Law, 2016, vol. 9, no. 1, pp. 6–15. URL: Link (In Russ.)
Aganbegyan A.G., Ershov M.V. [On the relationship of monetary and industrial policy in the banking system of Russia]. Den'gi i kredit = Money and Credit, 2013, no. 6, pp. 3–11. (In Russ.)
Manevich V.E. [Central bank (RF) monetary policy and the dynamics of the Russian economy 2015–2017]. Ekonomicheskaya nauka sovremennoi Rossii = Economics of Contemporary Russia, 2018, no. 4, pp. 85–102. (In Russ.)
Turkina O.A., Shabaev P.V. [Financial globalization and its impact on financial markets]. Ekonomika i sotsiologiya = Economics and Sociology, 2017, no. 34, pp. 30–35. (In Russ.)
Zhdanova O.A. [To the question of classification of mutual funds]. Aktual'nye problemy gumanitarnykh i estestvennykh nauk = Actual Problems of Humanities and Natural Sciences, 2013, no. 3, pp. 102–108. (In Russ.)