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	Gosbank - Wikipedia, the free encyclopedia
		Gosbank (Госбанк, Государственный банк СССР, Gosudarstvenny bank SSSR—the USSR State Bank) was the central bank of the Soviet Union and the only bank since 1930s until 1987.
		The Gosbank was one of three economic authorities in Russia, the other two being Gosplan (State Planning Committee) and Gossnab (State Committee for Material Technical Supply).
		Gosbank did not act as a commercial bank in the sense understood in the West.
	en.wikipedia.org /wiki/Gosbank (240 words)

	Gosbank - Encyclopedia Glossary Meaning Explanation Gosbank (Site not responding. Last check: 2007-10-29)
		Instead of independently and impartially assesing the creditworthiness of the borrower, Gosbank provided loan funds to "favored individuals, groups and industries" as directed by the central government.
		The Soviets also used Gosbank as a tool to impose central control on industry, using bank balances and transaction histories to monitor the activity of individual concerns and their compliance with Plans and directives.
		As the Soviet Union neared collapse, and as part of Mikhail Gorbachev's perestroika program, other banks were formed including Pomstriobank, Zhilstosbank, Agrobank, Vneshekombank, and Sberbank.
	www.encyclopedia-glossary.com /en/Gosbank.html (218 words)

	Europe-Asia Studies: Currency regulation in the NEP period
		Gosbank and Narkomfin strove to keep this rate close to the official one set in the stock department of the Moscow commodity exchange, where, unlike on the free market, the restrictions on currency transactions described above were effective.
		Gold coin was not quoted on the official exchanges, so the policy of Gosbank and Narkomfin boiled down to trying to prevent too big a gap between the rates for the gold 10 ruble coin and the chervonets in terms of the sovznak.
		Nevertheless, it made execution of the monetary reform harder and at the beginning of March 1924, on Sokol'nikov's proposal, the Politburo instructed the OGPU to cease repression of exchange dealers because it was obstructing the conduct of currency operations on the free markets by Narkomfin.
	www.findarticles.com /p/articles/mi_m3955/is_n8_v46/ai_16549029/pg_2 (1286 words)

	Vnesheconombank :: Vnesheconombank history pages (Site not responding. Last check: 2007-10-29)
		The said banks were obliged to transfer to their current accounts with Gosbank all their foreign currency free balance except for the currency required to repay, within a period of three days, liabilities provided for by a currency schedule and except for the currency needed to secure credits extended by foreign banks.
		Gosbank of the USSR was granted the right to exercise control over and keep records of Vneshtorgbank's transactions, to this end Gosbank of the USSR could delegate its representatives to Vneshtorgbank's Board, Auditing Commission and Management Council and receive from Vneshtorgbank all data relating to its transactions.
		Gosbank of the USSR took over the management of other lending institutions and specifically it started to service foreign trade transactions thus cutting down the scope of Vneshtorgbank's business.
	www.veb.ru /eng/history/bank/index.wbp (6133 words)

	[No title]
		The document was then turned over to Gosbank, which credited the farm's account according to the value of the milk delivered, and debited the cheese factory's account by the same value.
		Also, enterprise accounts with Gosbank were "blocked," that is, they could only be used to pay for the type and quantities of inputs that were specified in the plan.
		In particular, the Gosbank monopoly on enterprise loans and deposits was simply replaced with three new monopoly banks, each responsible for its own sector of the economy.
	faculty.vassar.edu /~kennett/Lieberman.htm (3816 words)

	Gosbank, 1921--1927: Banking, political economy, and the Soviet state during NEP
		Examining Gosbank as both an economic actor and an institution of the Soviet state yields insights into such fundamental issues of NEP as its essential nature as an economic phenomenon and its viability.
		Gosbank's experience also sheds light on the nature and dynamics of Soviet politics in the 1920s and the trajectory of the Soviet political system at that time.
		Gosbank's operations demonstrate that NEP existed as a conscious and coherent economic system designed to develop a market socialist economy, but a system which was non-viable.
	repository.upenn.edu /dissertations/AAI3054933 (242 words)

	Belarus - Banking and Finance
		Under the communist regime, the currency of the Soviet Union was the ruble, and the banking system was owned and managed by the central government.
		Gosbank (Gosudarstvennyy bank--the State Bank) was the central bank of the country and its only commercial bank as well.
		Gosbank had main offices in each of the republics, and, because the banking system was highly centralized, it played an important role in managing the economy.
	www.country-data.com /cgi-bin/query/r-1283.html (620 words)

	[No title]
		The traditional instrument for intermediated private saving in the former Soviet Union was the ruble deposit in the Gosbank.
		Saving in Gosbank was in excess of that desired by the households, but in the absence of goods to purchase the deposits accumulated into the "ruble overhang".
		The banking system of Kazakhstan had its beginnings in 1987 with the "break-up" of the Gosbank and the passage of a new law on corporations.
	www.unc.edu /~pconway/teccours/kazsav.htm (2885 words)

	Europe-Asia Studies: As good as gold? A note on the chervonets - a gold-backed currency during the New Economic Policy ...
		During the issue of chervontsy it was declared that the chervonets was a currency directly exchangeable for gold, but the commencement of this exchange was delayed until a special resolution was prepared: such a resolution was in fact never issued.
		Thus the chervonets was never directly convertible into gold at par, rather Gosbank purchased chervontsy for gold and foreign currency as a mechanism for supporting the exchange rate at a certain level.
		Table 3 also shows that the quantity of chervontsy actually in circulation as a percentage of the amount in Gosbank reserves increased from 32% in January 1923 to 92% in March 1924, indicating that growing confidence in the chervonets allowed the Soviet government to increase this ratio gradually.
	www.findarticles.com /p/articles/mi_m3955/is_n4_v46/ai_15654724/pg_2 (799 words)

	Banking in planned economies (from bank) -- Britannica Concise Encyclopedia - The online encyclopedia you can trust! (Site not responding. Last check: 2007-10-29)
		The activities of the Gosbank are by no means limited to purely financial operations, and it actively controls the implementation of production and financial plans and the spending of wages funds.
		The Gosbank was originally concerned with the provision of short-term credit; a number of other banks were created to finance capital investment in the socialized economy.
		The Gosbank served the needs of the urban population through its network of branches, which collected rent, taxes, and other compulsory payments and contributions.
	www.britannica.com /ebc/article-21554 (1320 words)

	Soviet Union - Financial System (Site not responding. Last check: 2007-10-29)
		Gosbank was the central bank of the country and also its only commercial bank.
		The latter bank provided capital investment funds for all branches of the economy except agriculture, which was handled by Gosbank.
		The reforms of the mid-1980s, however, required enterprises to rely to a greater extent on their own financial resources rather than on the central budget.
	www.country-data.com /cgi-bin/query/r-12703.html (434 words)

	Investment in Modern Day Russia
		There was a central government bank, Gosbank, which handled all financial and banking transactions.
		Gosbank was designed to monitor compliance with the nation's economic plan.
		In the last years of the USSR, they converted the subsidiary banks of Gosbank, the federal bank of the USSR, into commercial banks and relicensed under the new Central Bank of Russia.
	www.allenwood.org /essays/russia.html (1171 words)

	Finance & Development, December 1998 - Monetary Policy in Russia
		The Gosbank tightly controlled specialized banks, setting ceilings on their credits and providing most of their funding.
		The Gosbank remained as the central bank of the Soviet Union, to which the central banks of the various republics, including Russia, were made subordinate.
		The Gosbank disappeared, and monetary policy functions were vested in the central banks of the countries in the ruble area.
	www.imf.org /external/pubs/ft/fandd/1998/12/balino.htm (2869 words)

	WORLD ENCYCLOPAEDIA - Russia - Banking and Finance (Site not responding. Last check: 2007-10-29)
		In its capacity as a central bank, Gosbank handled all significant banking transactions, including the issuance and control of currency and credit, the management of gold reserves, and the oversight of transactions among enterprises.
		In 1987 and 1988, the Gorbachev regime separated commercial banking operations from Gosbank and replaced the two specialized banks with three banks to provide credit to designated sectors of the economy: the Agro-Industrial Bank (Agroprombank), the Industry and Construction Bank (Promstroy-bank), and the Social Investment Bank (Zhilsotsbank), which managed credits for the social welfare sector.
		The Russian Central Bank (RCB) assumed the functions of Gosbank in November 1991, and Gosbank was eliminated when the Soviet Union dissolved one month later.
	encyclopaedic.net /world/russia/62.php (2703 words)

	Commanding Heights : Russia Money \| on PBS
		Gosbank is the USSR's Central Bank and its only commercial bank.
		The ruble is an almost entirely internal currency unit, with the government fixing its rate of exchange with foreign currencies somewhat arbitrarily.
		Several new banks are set up to finance industrial undertakings, ending the monopoly of Gosbank.
	www.pbs.org /wgbh/commandingheights/lo/countries/ru/ru_money.html (813 words)

	CHAPTER 3-Thesis Work "Lithuanian Banking Crisis of 1995: Causes & Ramifications
		But it was only one of those weak points in the financial policy of Lithuania and its attempts to promote the development of the private banking sector and simultaneously to provide prudential and reasonable ways of its growth (Fleming and others 3).
		During several years after the independence, the banking sector took a fast development course that was accompanied by the early monetary reforms of the BOL as, for instance, the presentation of a temporary substitute of national currency.
		That situation was similar to the "old good" Gosbank and its notorious banking policies.
	adata.8m.com /chap3.htm (4012 words)

	Banking System
		The banking system of Kazakhstan was a constituent of the all-Union system until 1987, the USSR banking system consisted of a three bank monopoly: Gosbank of the USSR (State Bank), Stroibank (Construction bank), and Vneshtorgbank (Export-import Bank).
		The leading position belonged to the state bank, which was the unique issuing body and the central crediting organ.
		Gosbank was vested with powers to co-ordinate the operations of all other banks and to determine the monetary and crediting policies.
	emgmkts.com /kazkommerts/research/financial_markets/banking_system.htm (1000 words)

	Replacing the Ruble in Lithuania: Real Changeversus Pseudoreform (Site not responding. Last check: 2007-10-29)
		Zilevicius, the local head of the Gosbank, a member of the Lithuanian parliament, and, naturally, a Communist, drafted a bill elevating the Gosbank branch into the quasi-independent Bank of Lithuania.
		It was embroiled in a contest with the Gosbank's Lithuanian branch, which remained open because Moscow did not recognize the new Lithuanian parliament's actions as legitimate.
		Among the Bank of Lithuania's regulatory powers, as set forth in the law establishing it, are the powers to deny licenses to other commercial banks, to set minimum capital requirements for them, to set maximum and minimum interest rates, and to control foreign exchange transactions.
	www.regulationmagazine.org /pubs/pas/pa-163.html (6689 words)

	History
		By 1862, when Gosbank (the State Bank, established in 1860) was entrusted with the general management of all savings offices the total balances in 140,000 deposit accounts amounted to 11.5 million roubles.
		Under the credit reform of 1930-1932, all operations connected with distributing state loans were transferred from Gosbank of the USSR to the savings banks.
		In 1963, Gosbank was entrusted with the supervision of all savings banks, and the public funds in the accounts with the savings banks were applied to replenish Gosbank's financing resources.
	www.sbrf.ru /eng/AnnRep1999/backgrd.htm (2216 words)

	Ru: Uchetno-kreditny tekhnikum
		I need some help understanding what kind of = education he had: = = The school was a "uchetno-kreditnyj tekhnikum" (sorted under Gosbank).
		I am currently translating a diploma for a person how graduated in the beginning of the 1980-ees.
		I need some help understanding what kind of education he had: The school was a "uchetno-kreditnyj tekhnikum" (sorted under Gosbank).
	www.forum-one.org /new-439345-4340.html (574 words)

	Making Economic Sense
		The man from Gosbank was astounded to hear Mr.
		Not that the Gosbank man was unfamiliar with the gold standard; it was just that he had imbibed conventional Western wisdom that the gold standard only be restored at some indistinct point in the far future, after all other economic ills had been neatly solved.
		The man from Gosbank was quick with the crucial question.
	www.mises.org /econsense/ch96.asp (715 words)

	ISCIP - Perspective
		The provisions for ministerial oversight in the restructuring of the Russian government were written in accordance with the proposal before the USSR State Council to abolish 80 union ministries and administrative organs, which was approved at the November 14 session of the USSR State Council.
		On November 22, the RSFSR Supreme Soviet approved a resolution incorporating Gosbank and Vneshekonombank into a Russian Central Bank responsible for monetary policy.
		On November 30, after consulting with USSR President Gorbachev and the director of Gosbank, Yel'tsin announced that Russia would assume responsibility for the union budget through the end of 1991, guaranteeing payments, among others, to the military and scientific sectors.
	www.bu.edu /iscip/vol2/Cavan.html (818 words)

	The Russian Mafia
		The trail leads back to the murky circumstances surrounding the fall of the USSR itself, when western intelligence services connived in or fostered financial malfeasance on a colossal scale by high Russian officials (among them even then, was V. Gerashchenko).
		The piece de resistance of the western-sponsored crime wave which pushed the USSR over the brink was, of course, the theft of the entire Soviet gold reserve of more than 2,000 tonnes of bullion from the Soviet gosbank vaults, a crime announced by Geraschenko to an astonished Russian parliament.
		This crime remains 'unsolved' to this day despite extraordinary efforts made to solve it, including the highly- publicised hiring by Boris Yeltsin of a crack team of US private investigators, who came up with nothing.
	www.marxmail.org /archives/February99/crime_ussr.htm (1140 words)

	Week 10 Essay Question of the Week (Site not responding. Last check: 2007-10-29)
		Through the Gosbank project and his backers there was talk of the possible implementation of a credit limit to industries and enterprises, which were highly opposed by Vesenkha officials and supporters.
		Negotiation on the subject of monetary consolidation between these two groups finally ended in a credit reform program, mostly as Gosbank had designed it.
		But this policy included two new clauses that would reciprocate the changes both groups were trying to implement.
	web.bryant.edu /~history/h385nis/2000/essay1000c.htm (613 words)

	Latvian ruble (Site not responding. Last check: 2007-10-29)
		After the Second World War, Latvia was again incorporated into the Soviet financial system.
		The State Bank of the USSR (Gosbank) both issued money and functioned as the State Treasury.
		The monetary system of the Latvian Soviet Socialist Republic was entirely controlled by the Gosbank.
	www.worldhistory.com /wiki/L/Latvian-ruble.htm (649 words)

	SOCIETY AND ECONOMY: WILLIAM TOMPSON (Site not responding. Last check: 2007-10-29)
		By far the most important of these is their acquisition of large stakes in former state enterprises, on which basis a number of extremely powerful economic groupings have been formed.
		Under the monobank system which operated from the Stalin period until the late 1980s, the State Bank (Gosbank) and its specialised divisions and local branches were no more than an instrument for channelling financial resources in accordance with state economic plans and monitoring enterprise behaviour.
		The regions have also been as eager as the centre to borrow on both domestic and international markets, although their accumulated borrowing to date is still dwarfed by that of the federal government.
	www.lib.uni-corvinus.hu /tartalom/socec/98-1-2/knapp1.htm (5969 words)

	The Russian Economy: Fixing Russia's Banks: Chapter 1
		The old Soviet banking system was a monobank system, centered on the state bank, Gosbank, which covered the entire Soviet Union through its many branches and collection systems.
		The primary purpose of the banking system was to support the economic system of central planning, in which government bureaucrats allocated inputs (raw materials, labor, investment), outputs (told enterprises what to produce and where to ship goods), set prices and wages, determined incomes, and rationed consumption.
		In 1991, Gosbank became the Central Bank of Russia (CBR), which held responsibility for monetary policy, commercial bank supervision, and facilitating interbank settlements.
	www.ibiblio.org /efloyd/UNC_classwork/Econ162/russianeconomy.htm (3745 words)

	[No title] (Site not responding. Last check: 2007-10-29)
		Meanwhile, RSFSR State Councilor Sergei Stankevich told Western news agencies on August 28 that Gorbachev's position is being strengthened by the republics which prefer Gorbachev to a strong Russia under Yeltsin.
		Soviet and Western agencies reported August 28 that Yeltsin has issued orders that require all currency and financial transactions and transactions with precious metals and stones to be approved by the relevant RSFSR authorities.
		These are just the latest in a series of moves that Yeltsin has taken in an effort to establish some type of central control over economic activity in the country.
	gee.cs.oswego.edu /pub/COUP/RLA/91-164.RLA (4430 words)

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