Nobles' Land Bank () was a

bank A bank is a financial institution that accepts Deposit account, 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 m ...

operating in the

Russian Empire The Russian Empire was an empire that spanned most of northern Eurasia from its establishment in November 1721 until the proclamation of the Russian Republic in September 1917. At its height in the late 19th century, it covered about , roughl ...

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 Duchy of Finland The Grand Duchy of Finland was the predecessor state of modern Finland. It existed from 1809 to 1917 as an Autonomous region, autonomous state within the Russian Empire. Originating in the 16th century as a titular grand duchy held by the Monarc ...

, the

Kingdom of Poland The Kingdom of Poland (; Latin: ''Regnum Poloniae'') was a monarchy in Central Europe during the Middle Ages, medieval period from 1025 until 1385. Background The West Slavs, West Slavic tribe of Polans (western), Polans who lived in what i ...

, the

Baltic Governorates The Baltic Governorates, originally the Ostsee Governorates, was a collective name for the administrative units of the Russian Empire set up in the territories of Swedish Estonia, Swedish Livonia (1721) and, afterwards, of the Duchy of Courland ...

and the

Transcaucasus The South Caucasus, also known as Transcaucasia or the Transcaucasus, is a geographical region on the border of Eastern Europe and West Asia, straddling the southern Caucasus Mountains. The South Caucasus roughly corresponds to modern Armenia, ...

. 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