Nobles' Land Bank (russian: Дворянский земельный банк) was a
bank operating in the
Russian Empire founded in 1885.
The bank was created to provide cheap loans to
Russian landed nobility as the mortgages of their estates.
History
The Nobles' Land Bank was founded in 1885 to maintain the land tenure of hereditary nobles. It was located in St. Petersburg, Admiralty Embankment, house 14.
The bank applied to the European part of the
Russian Empire, excluding the
Grand Principality Finland, the
Kingdom of Polish, the
Baltic province and the
Transcaucasus
The South Caucasus, also known as Transcaucasia or the Transcaucasus, is a geographical region on the border of Eastern Europe and Western Asia, straddling the southern Caucasus Mountains. The South Caucasus roughly corresponds to modern Arme ...
. The loans were issued to landowners on the security of their land possessions in the amount of 60-75% of the value of land (including burdensome debts). The maximum period of repayment of the loan reached 48 years 4 months, but was later increased to 51 years, and then up to 66 years 6 months. In the 1880s the percentage paid on the loan was 5%-6%, and by 1897 it was reduced to 3.5%. Late payments were charged with 0.5 percent in the first two months and 1 percent in the next. In accordance with the Regulation of 26.6.1889 the estate could be appointed to auction, but in practice it was not applied.
In 1890, Bank's activities were extended to the Transcaucasus, in 1894 — to the Western province of the Empire.
In November 25 (December 8) of 1917 the Bank was abolished by the decree of the Council of People's Commissars of the RSFSR.
Декрет Совета народных комиссаров РСФСР от 25 ноября 1917 года «Объ упраздненіи Государственнаго Дворянскаго Земельнаго и Крестьянскаго Поземельнаго Банковъ».
Библиотека нормативно-правовых актов СССР // libussr.ru
See also
*Peasants' Land Bank
The Peasants' Land Bank (russian: Крестьянский поземельный банк) was a financial institution of the Russian Empire founded during the reign of Tsar Alexander III, by Nobles'. The Peasants' Land Bank in 1885 was created t ...
References
Defunct banks of Russia
Banks established in 1885
1885 establishments in the Russian Empire
Companies based in Saint Petersburg
Banks of the Russian Empire
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