Nobles' Land Bank (russian: Дворянский земельный банк) was a

bank A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

operating in the

Russian Empire The Russian Empire was an empire and the final period of the Russian monarchy from 1721 to 1917, ruling across large parts of Eurasia. It succeeded the Tsardom of Russia following the Treaty of Nystad, which ended the Great Northern War. ...

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

, 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

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 {{Russia-hist-stub

History

See also

References