Central Bank Independence in Transition Economies

Central Bank Independence… 

S&A 120 

35

APPENDIX - Central Bank Laws In Transition 

Economies 

The appendix provides information on Central Bank law in transition economies 

which have been used in constructing the indices presented in the paper. It describes in 

greater details legal frameworks and current changes in the banking law. When the 

information are available, it also describes the relations between the banks and the 

governments in practice. 

The description of each statue is divided into four section, covering: 

– 

governing bodies and financial management, 

– 

objectives, formulation of monetary policy and relations with other State 

institutions, 

– 

limitations on lending to the Government, 

– 

banking supervision and exchange rate policy. 

1. Belarus

1

 

The law “On the National Bank of the Republic of Belarus” (NBRB) was passed 

in December 1990.