In the second half of the 1920s. development syndicates led to a concentration of them all bank loans allocated to the relevant industry, and their distribution among the trusts. Such syndicates are increasingly taking on responsibilities in the credit intermediary.
This triggered the beginning of the reorganization of the banking system. In 1927, the Resolution of the Central Executive Committee and SNK "On the principles of construction of credit system," according to which the State Bank received the operational control of the entire banking system, which eliminated the right to self-interest rate policy in the conduct of banks. This decree abolished and specialized banks.
The next stage of the reorganization was the rigid distinction of short-term and long-term lending. In 1928 Prombank and Elektrobank were merged into a single long-term loans Bank of Industry and Power Engineering. All short-term loans was to give the State Bank in accordance with the quarterly plans.
In general, the result of 1927-1929. was the elimination of specific credit functions of banks, bank lending that has turned into a sort of state planning funding. Credit reform of 1930-1932. marked the beginning of a new stage in the development of the banking system.
Its essence was the replacement of commercial bank lending and indirect direct bank lending. The banking system was reorganized along functional lines: isolated national short-term bank credit and created a system of specialized banks to service the capital investment. This was odnozvennoy banking system, consisting of the State Bank of the USSR All-Union four specialized banks finance long-term lending and capital investment - Prombank, Selkhozbank, Tsekombank, Torgbank, VTB, which had a wide network of correspondent relations with foreign banks, and savings banks, which is a unified nation-wide credit institution that serves the general public by bringing available funds, payments for services, placing loans.
In 1959, the system of long-term bank was reorganized two banks - Selkhozbank and Tsekombank were abolished and their functions transferred to the State Bank. On the basis of Torgbanka Industrial Bank and Union Bank was established for capital financing - Strojbank.
Its functions include financing and long-term lending to businesses and organizations of different sectors of the economy (excluding agriculture). The final structure of the banking system by 1960 was as follows: The State Bank, Construction Bank, VTB, the system of savings banks. Such a system has existed for a long time, up to 1988 Further changes in the country's politics, the transition to a market economy has led to changes in the banking system. In 1987, the Plenum of the Central Committee of the CPSU was held, which decided on its improvement.
As a result, along with the State Bank, who played the role of "bank of banks" have been created 5 branch banks - Industrial and Construction Bank (ICB), a lending industry, construction, transport, communications, Agriculture Bank (agroprombank), credited the agro-industrial complex, housing and social Bank (Zhilsotsbank), whose task was served the lending and housing and social services, the Savings Bank (Sberbank), converted from savings banks and the population served, and the Bank of Foreign Economic Affairs (Vnesheconombank), maintenance lished in foreign trade. Such a set of banks in a one-tier system has led to the interweaving of their functions, which further aggravated the causes reorganization of the banking system. Came to the aid of the Law "On Cooperation" (1988), which allowed banks to form a cooperative that filled a vacant niche in the lending and raising funds.
First Commercial Bank was registered in August 1988 Favourable conditions for the opening of banking cooperatives led to the emergence of a broad wave of bank peculiar "banking boom." By 1 January 1989, there were 43 commercial banks, one year - 224, and by the end of 1991 - 1357. However, most of these banks was a "phony banks", which are designed only for a certain part of the profit, and then they shut down, and in their place comes a new, supposed to be very favorable conditions for the clients, but also to meet their obligations. Certain order came in 1991, when at the end of 1990 was adopted two laws - the Law "On the State Bank" and the "Law on Banks and Banking Activities", which outlined the conditions for opening bank, ways and methods to control them.
Following these laws, the Law "On Banks and Banking Activity of the Russian Federation", which finally established a two-tier banking system in the form of the Central Bank. Savings bank and commercial banks. Under the Act, commercial banks have independent status in attracting deposits and lending policies, as well as in the determination of interest rates. In addition, they were given the right to carry out foreign exchange transactions on the basis of licenses issued by the Central Bank.
Specialized banks were transformed into commercial banks on the basis of incorporation. By the time of the adoption of these laws, there were 1,215 commercial and cooperative banks with 2,293 branches.