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In order to financially assist Communist Parties, anti-imperialism, and pro national liberation movements worldwide, these banks acted as subsidiaries or "daughters" to the "mother" bank or Gosbank, which was the central bank of Russian Soviet Federative Socialist Republic (Russia) from 1921 to 1922 and the Soviet Union from 1923 to 1991.
The State Bank of the USSR (Russian: Государственный банк СССР, romanized: Gosudarstvennyy bank SSSR), from 1921 to 1923 State Bank of the RSFSR and commonly referred to as Gosbank (Russian: Госбанк), was the central bank and main component of the single-tier banking system of the Soviet Union from 1922 to 1991.
A soviet passbook with the words "savings booklet" in the USSR's 15 official languages. The system of State Labor Savings Banks of the USSR (Russian: Государственные трудовые сберегательные кассы СССР, shorthand Gostrudsberkassy) was the main retail bank of the Soviet Union, which in some respects perpetuated the prior operations of savings banks ...
In 1927, negotiations were held with the Berliner Handels-Gesellschaft to secure foreign loans, but in May of that year the Soviet Council of People's Commissars granted Gosbank extensive control over Vneshtorgbank in order to centralise its foreign trade activities, putting an end to its autonomous decision-making.
The Soviet Union used the bank to manage Spain's gold reserves during the Spanish Civil War. [5] After the fall of the Soviet Union, many persons involved with BCEN-Eurobank became leaders in Russian economy, banking, and finance. [6] The 1993 established Moscow bank "Evrofinance" was a subsidiary of Eurobank. [7]
The history of the Soviet Union from 1964 to 1982, referred to as the Brezhnev Era, covers the period of Leonid Brezhnev's rule of the Union of Soviet Socialist Republics (USSR). This period began with high economic growth and soaring prosperity but ended with a much weaker Soviet Union facing social, political, and economic stagnation.
Current events; Random article; About Wikipedia; ... Banks of the Soviet Union (1 C, 12 P) Pages in category "Banking in the Soviet Union"
The Soviet economic data archive indicates that by 1921, the national monthly inflation rate averaged about 50 per cent and the quantity of currency in the Soviet economy increased by 164.2 times. [6] According to the Soviet Union's 1921 purchasing-power index, 10,000 Soviet sovznaks had the purchasing power of 0.59 1914 chervonets. [7]