Staatsbank
From Wikipedia, the free encyclopedia
 |
This article does not cite any references or sources. (October 2007) Please help improve this article by adding citations to reliable sources. Unverifiable material may be challenged and removed. |
The state bank of the GDR (German: Staatsbank der DDR) was the central bank of the German Democratic Republic. It was established on 1 January 1968 from the Deutsche Notenbank and took over the majority of the same tasks.
The state bank of the GDR was responsible for the competence of Zahlungsverkehr by transfer and control of money circulation within the GDR, as well as the exchange abroad. In addition, the bank bought and sold security and administered precious metals.
The state bank was responsible also for the account processing of the state institutions and state enterprises. In each of the 15 districts of the GDR, the state bank had at least one main branch.
Citizens of the GDR, who were in the possession of DM foreign exchange, could furnish a DM foreign exchange account with the state bank. This account became over the nationally determined interest rate of 3.25% per annum with 4.25% per annum pays interest on. The availability of the foreign exchange was however going by made more difficult that the owner of an account only limits his fortune on 15.00 DM per day for west journeys bar to take off could. Bar orders were not possible further. Orders for goods over the GENEX gift service GmbH were possible. But the GENEX catalog was lent at short notice against proof.
The special is remarkable, with a law of 19 December 1974 fixed, political dependence of the state bank, according to which president of the bank Council of Ministers belonged at the same time. The state bank was organ of the Council of Ministers of the GDR. The instruction bindingness of the central bank head is present however also in other states.
Presidents of the bank:
- Greta Kuckhoff (1950-1958)
- Martin Schmidt (1958-1961)
- Rolf Wetzel (1961-1964)
- Helmut Dietrich (1964-1967)
- Margarete Wittkowski (1967-1974)
- Horst Kaminsky (1974-1990)
After German reunification the bank was privatised by Treuhand and parts of other banks were taken over (see also Deutsche Kreditbank).
Other banks and banks in the GDR were:
- Bank for agriculture and food processing industry
- Deutsche Außenhandelsbank AG (German doreign trade bank)
- Sparkassen (savings banks)
- Genossenschaftskassen for handicraft and trade of the GDR
The state bank of the GDR was at the same time created a member of the international bank for economic co-operation, as Comecon-organ 1957 with seat in Moscow. Their currencies were transfer roubles and gold reserves.
The monument-protected neo-classical building of 1889 at the Bebelplatz, in which the state bank resided, was until 1945 the head office of the Dresdner Bank. This unsuccessfully for an endaround carry had striven and built its capital representative office finally to Pariser Platz. New owner of the area was calculated a subsidiary Commerzbank.
The building functioned after 1990 occasionally than citizen of Berlin head office of the Dresdner Bank, in addition, than film scenery (Run Lola Run). In 2004 it was converted as part of the real estate project OpernCarrée by the hotelier Sir Rocco Forte into a luxury hotel (the Hotel de Rome). The hotel opened on 12 October 2006.
