Gosbank

Gosbank (Russian: Госбанк, Государственный банк СССР, Gosudarstvenny bank SSSR—the State Bank of the USSR) was the central bank of the Soviet Union and the only bank whatsoever in the entire Union from the 1930s to 1987. Gosbank was one of the three Soviet economic authorities, the other two being "Gosplan" (the State Planning Committee) and "Gossnab" (the State Committee for Material Technical Supply). The Gosbank closely collaborated with the Ministry of Finance of the USSR to prepare the national state budget.

Foundation

Soviet economics
Part of a series on
Organizations STO Gosplan Gossnab Gosbank Supreme Soviet of the National Economy Economic ministries Enterprises Combines
Planning methods Material balances Linear optimization Five-year plans
Statistics Material product Material Product System Net material product
Related topics Hyperinflation in early Soviet Russia Cybernetics Eastern bloc Economic planning Marxism-Leninism Socialism State capitalism
Business and economics portal

The foundation of the bank was part of the implementation of the New Economic Policy. On 3 October 1921, the All-Russian Central Executive Committee (VTsIK), passed a resolution for the founding of the State bank of the Russian Soviet Federative Socialist Republic. This was followed by a similar resolution passed by Sovnarkom on 10 October 1921. It began operations on 16 November 1921. In February 1922 Lenin described the State Bank as a "a bureaucratic paper game", comparing it to a Potemkin village in a letter to Aron Sheinman who he accused of being a "Communist-mandarin childishness".^[1] In 1923 it was transformed into the State Bank of the USSR. It was placed under the jurisdiction of Narkomfin.^[2] The Soviet state used Gosbank, primarily, as a tool to impose centralized control upon industry in general, using bank balances and transaction histories to monitor the activity of individual concerns and their compliance with Five-Year Plans and directives. Gosbank did not act as a commercial bank in regard to the profit motive. It acted, theoretically, as an instrument of government policy. Instead of independently and impartially assessing the creditworthiness of the borrower, Gosbank would provide loan funds to favored individuals, groups and industries as directed by the central government.^[3]

In 1931 Boris Berlatsky, a senior official of the State Bank was put on trial for wrecking as part of the 1931 Menshevik Trial.^[4]

Perestroika

As part of Mikhail Gorbachev's perestroika program, other banks were formed, including; "Promstroybank" (USSR Bank of Industrial Construction), "Zhilstoybank" (USSR Bank of Residential Construction), "Agrobank" (USSR Agricultural Bank), "Vneshekonombank" (USSR Internal Trade Bank), and "Sberbank" (USSR Savings Bank). "Sberbank" continues to this day as one of Russia's largest banks, retaining senior ex-Gosbank personnel and most of the present Russian government's banking business.

Senior Executives

This is the list of the Chairmen of the Board of the State Bank.^[2]

A. L. Sheinman, (1921-1924), Chairman of the Board of the RSFSR State Bank
Nikolai G. Tumanov, (1924-1926), Acting Chairman of the Board of the USSR State Bank

Chairman of the Board of the USSR State Bank

Aron Sheinman, (1926-1929),
Georgy Pyatakov, (1929-1930),
Moise Kalmanovitch, (1930-1934),
Lev Maryasin, (1934-1936),
Solomon Kruglikov, (1936-1937),
Aleksei Grichmanov, (1937-1938),
Nikolai Bulganin, (1938-1940),
Nikolai Sokolov, (1940),
Nikolai Bulganin, (1940-1945),
Yakov Golev, (1945-1948),
Vasili Popov, (1948-1958),
Nikolai Bulganin, (1958),
Aleksandr Korovushkin, (1958-1963),
Aleksei Poskonov, (1963-1969),
M. N. Sveshnikov, (1969-1976),
Vladimir Alkhimov, (1976-1986),
Viktor Dementsev, (1986-1987),
Nikolai Garetovsky, (1987-1989),
Viktor Gerashchenko, (1989-1991),

References

↑ Lenin, Vladimir (1922). Letter to A. L. Sheinman. Progress Publishers. Retrieved 26 May 2015.
1 2 "The State Bank of the USSR". Bank of Russia Today. Bank of Russia. Retrieved 26 May 2015.
↑ Russia's Road To Corruption
↑ Jasny, Naum (1972). Soviet Economists of the Twenties. London: Cambridge University Press.

External links

Soviet Banking System, Pekka Sutela, Answers.com (accessed 2012-08-02)

Soviet Union topics

Index

History

Geography

Subdivisions	Republics autonomous Oblasts autonomous Autonomous okrugs Closed cities list

Regions	Caspian Sea Caucasus Mountains European Russia North Caucasus Siberia Ural Mountains West Siberian Plain

Politics

General	Constitution Elections Foreign relations Brezhnev Doctrine Government list Human rights LGBT Law Leaders Collective leadership Passport system State ideology Marxism–Leninism Leninism Stalinism

Bodies	Communist Party organisation Central Committee Politburo Secretariat Congress General Secretary Congress of Soviets (1922–1936) Supreme Soviet (1938–1991) Congress of People's Deputies (1989–1991) Supreme Court

Offices	Premier President Deputy Premier First Deputy Premier

Security services	Cheka GPU NKVD MVD MGB KGB

Political repression	Red Terror Collectivization Great Purge Population transfer Gulag list Holodomor Political abuse of psychiatry

Ideological repression	Religion Suppressed research Censorship Censorship of images

Economy

Science

Communist Academy
Academy of Sciences
Academy of Medical Sciences
Lenin All-Union Academy of Agricultural Sciences
Academy of Pedagogical Sciences
Sharashkas
Naukograds
- list

Society

Crime Demographics Soviet people working class 1989 census Languages Linguistics

Culture	Ballet Cinema Fashion Literature Music opera Propaganda Sports Stalinist architecture

Opposition	Soviet dissidents and their groups list

Anthem Emblem republics Flag republics

Templates

Departments
Russian Revolution 1917
Joseph Stalin
Stagnation Era
Fall of Communism

Book
Category
Commons
Portal
WikiProject

Central banks

Global

Global	Bank for International Settlements Basel Committee on Banking Supervision Financial Stability Board

By continent

Africa	Bank of Central African States Central Bank of West African States Bank of Algeria National Bank of Angola Bank of Botswana Bank of the Republic of Burundi Bank of Cape Verde Central Bank of the Comoros Central Bank of the Congo Central Bank of Djibouti Central Bank of Egypt Bank of Eritrea National Bank of Ethiopia Central Bank of The Gambia Bank of Ghana Central Bank of the Republic of Guinea Central Bank of Kenya Central Bank of Lesotho Central Bank of Liberia Central Bank of Libya Central Bank of Madagascar Reserve Bank of Malawi Central Bank of Mauritania Bank of Mauritius Bank Al-Maghrib (Morocco) Bank of Mozambique Bank of Namibia Central Bank of Nigeria National Bank of Rwanda Central Bank of São Tomé and Príncipe Central Bank of Seychelles Bank of Sierra Leone Central Bank of Somalia Bank of Somaliland South African Reserve Bank Bank of South Sudan Central Bank of Sudan Central Bank of Swaziland Bank of Tanzania Central Bank of Tunisia Bank of Uganda Bank of Zambia Reserve Bank of Zimbabwe

Americas	Central Bank of Argentina Central Bank of Aruba Central Bank of The Bahamas Central Bank of Barbados Bermuda Monetary Authority Central Bank of Brazil Bank of Canada Central Bank of Chile Bank of the Republic (Colombia) Central Bank of Cuba Central Bank of Curaçao and Sint Maarten Eastern Caribbean Central Bank Cayman Islands Monetary Authority Central Bank of Ecuador Bank of Guatemala Bank of the Republic of Haiti Central Bank of Honduras Bank of Jamaica Bank of Mexico Central Bank of Nicaragua Central Reserve Bank of Peru Central Bank of Suriname Central Bank of Trinidad and Tobago Federal Reserve System (United States) Central Bank of the Uruguay Central Bank of Venezuela

Asia	Da Afghanistan Bank Central Bank of Bahrain Bangladesh Bank Royal Monetary Authority of Bhutan Brunei Currency and Monetary Board Autoriti Monetari Brunei Darussalam National Bank of Cambodia People's Bank of China Hong Kong Monetary Authority Reserve Bank of India Bank Indonesia Central Bank of the Islamic Republic of Iran Central Bank of Iraq Bank of Israel Bank of Japan Central Bank of Jordan National Bank of Kazakhstan National Bank of the Kyrgyz Republic Bank of Korea Central Bank of the Democratic People's Republic of Korea Central Bank of Kuwait Banque du Liban Monetary Authority of Macao Bank Negara Malaysia Maldives Monetary Authority Bank of Mongolia Central Bank of Myanmar Nepal Rastra Bank Central Bank of Oman State Bank of Pakistan Palestine Monetary Authority Bangko Sentral ng Pilipinas Qatar Central Bank Saudi Arabian Monetary Authority Monetary Authority of Singapore Central Bank of Sri Lanka Central Bank of Syria Central Bank of the Republic of China (Taiwan) Bank of Thailand Central Bank of Turkmenistan Central Bank of the United Arab Emirates Central Bank of Uzbekistan State Bank of Vietnam Central Bank of Yemen

Europe	European Central Bank (Eurosystem) National Bank of the Republic of Abkhazia Bank of Albania Central Bank of Armenia National Bank of Austria Central Bank of Azerbaijan National Bank of the Republic of Belarus National Bank of Belgium Central Bank of Bosnia and Herzegovina Bulgarian National Bank Croatian National Bank Central Bank of Cyprus Czech National Bank Danmarks Nationalbank (Denmark) Deutsche Bundesbank (Germany) Bank of England Bank of Estonia Bank of Finland Banque de France National Bank of Georgia Bank of Greece Hungarian National Bank Central Bank of Iceland Central Bank of Ireland Banca d'Italia Central Bank of Kosovo Bank of Latvia Bank of Lithuania Central Bank of Luxembourg National Bank of the Republic of Macedonia Central Bank of Malta National Bank of Moldova Central Bank of Montenegro De Nederlandsche Bank Norges Bank Central Bank of the Turkish Republic of Northern Cyprus National Bank of Poland Banco de Portugal National Bank of Romania Central Bank of Russia National Bank of Serbia National Bank of Slovakia Bank of Slovenia Gosbank (Soviet Union) Bank of Spain Swedish National Bank Swiss National Bank Central Bank of the Republic of Turkey National Bank of Ukraine

Oceania	Reserve Bank of Australia Reserve Bank of Fiji Reserve Bank of New Zealand Bank of Papua New Guinea Central Bank of Samoa Central Bank of Solomon Islands National Reserve Bank of Tonga Reserve Bank of Vanuatu

Policies and implementation

Policies	Capital requirement Contractionary monetary policy Expansionary monetary policy Basel II Basel III Basel 4

Implementation	Capital control Discount rate Interest rates Money creation Open market operation Sovereign wealth fund

Bretton Woods system

International Monetary Fund World Bank Group International Bank for Reconstruction and Development International Centre for Settlement of Investment Disputes International Development Association International Finance Corporation Multilateral Investment Guarantee Agency

Lists

List of central banks Central banks and currencies of Africa Central banks and currencies of Asia-Pacific Central banks and currencies of the Caribbean Central banks and currencies of Europe Central banks and currencies of Central America and South America

Names in italics indicate non-sovereign (dependent) territories, former countries, or states with limited recognition

This article is issued from Wikipedia - version of the 11/26/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.