Tsekombank
| Type | Joint-stock company |
|---|---|
| Industry | Financial services |
| Founded | 1925 |
| Defunct | 1959 |
| Fate | Decree from the Soviet Union |
| Successor | Construction Bank of the USSR and State Bank of the USSR |
| Headquarters | , |
Area served | Russia |
| Products | Banking services |
The Central Bank of Public Utilities and Housing Construction (Russian: Центральный банк коммунального хозяйства и жилищного строительства), sometimes also referred to as Central Communal Bank[1] or Communal Economy Bank[2]: 886 and commonly as Tsekombank (Russian: Цекомбанк), was a significant component of the Soviet banking system from its establishment in 1925 to 1959, when it was merged with Prombank and Selkhozbank to form the Construction Bank of the USSR, known as Stroybank.[3]: 31
History
The Tsekombank was established on 17 January 1925 as a joint-stock company. It operated mainly through local municipal banks, even though it also had offices of its own in Siberia and Ukraine. Like the Selkhozbank in agriculture, the Tsekombank was a mere conduit for budgetary appropriations and had no autonomy in its credit allocation.[2]: 886
The 1936 Constitution of the Soviet Union resulted in further centralization of housing construction financing at the Tsekombank.[4]
By the Decree of the President of the Soviet Union of April 7, 1959, the Central Bank was abolished, and its functions were distributed between the Construction Bank of the USSR and the State Bank of the USSR.
See also
Notes
- ^ Anatole Kopp (30 July 2013). "Foreign architects in the Soviet Union during the first two five-year plans". The Charnel-House - From Bauhaus to Beinhaus.
- ^ a b George Garvy (December 1972), "Banking Under the Tsars and the Soviets", Journal of Economic History (32:4), Cambridge University Press: 869–893
- ^ George Garvy (1977). "The Origins and Evolution of the Soviet Banking System: An Historical Perspective" (PDF). Money, Financial Flows, and Credit in the Soviet Union. National Bureau of Economic Research.
- ^ "Housing in the USSR since 1917". U.S. Central Intelligence Agency. 2 June 1953.