In this paper the author has analyzed certain provisions of the main legal acts regulating monetary legal policy and its subjects. The following norms were subjected to legal analysis: the Constitution of the Russian Federation, the Federal Constitutional Law «On the Government of the Russian Federation», the Federal Law «On the Central Bank of the Russian Federation (Bank of Russia)", etc. The legal status of the Bank of Russia as the main subject of Russia's monetary policy was also considered. According to the results of the study, it turned out that the legal regulation of the monetary policy of the Russian Federation contains gaps and collisions that require a thorough revision of legislation in order to eliminate them.