May 13 is the day of the establishment of the first state bank in Russia by the decree of Elizabeth Petrovna

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May 13 is the day of the establishment of the first state bank in Russia by the decree of Elizabeth Petrovna

On May 1754, 13, by the decree of Elizabeth Petrovna, the first state bank in Russia was established. The beginning of the development of banking in Russia dates back to the first half of the XVIII century. The first attempts to regulate and organize credit institutions belonged to the imperial government, as it sponsored the development of financial affairs in Russia. During the reign of Anna Ioannovna, when the need for loans was great, a "Coin Office" was created in Russia, which provided loans secured by gold and silver for 8%. This was the first step in the development of banks and other credit institutions. The further development of banking was under the control of Elizabeth Petrovna, who, at the time of her accession to the throne, declared herself the successor of the affairs of her father, Peter the Great. Following in the footsteps of Peter, the empress paid particular attention to economic issues, trade and industry. Supporting the business of the nobility, Elizabeth by her decree of May 1754, 13, established the Noble Lending Bank with its headquarters in St. Petersburg and its branch in Moscow, to lend to landlords in exchange for mortgaging their land. It was the first state-owned bank in Russia. The material well-being of the nobility was a major object of direct concern to the government. Therefore, the loan bank would gladly lend the nobility low-cost loans (10000% per annum) in large sums (up to 6 rubles, which at the time was a very large amount) as collateral for real estate or other property. Beginning in 1766, the credit bank also began lending to peasants (Christians) at 6 rubles at 20% per annum. In recent years, banking in Russia has been actively developing, new banks have been created.