Industrial and commercial bank
The Industrie- und Handelsbank (IHB) was the central body of the GDR's Council of Ministers as a commercial bank for companies and business management bodies in industry, construction, trade, transport and, until October 1968, also the food industry.
function
The IHB was responsible for carrying out the credit, payment and clearing transactions of state- owned companies , companies of other forms of ownership including socialist cooperatives, business management and state bodies and institutions and social organizations, unless other credit institutions were responsible. It carried out special state control tasks, particularly in the investment area and with regard to the scheduled and timely transfer of profits to the state budget of the GDR .
From 1972 the IHB executing bank was involved in the implementation of the resolutions of the Politburo of the Central Committee of the SED and the Council of Ministers of the GDR to eliminate the private sector of the GDR's economy.
history
The decision of the Politburo of the SED on "the new role and the most appropriate structure of the banking system under the conditions of the 2nd stage of the new economic system , in particular on relations between banks and businesses" of February 28, 1967 and a corresponding decision of the Council of Ministers of the GDR on April 5, 1967 gave the impetus for a comprehensive banking reform in the GDR. The single-stage banking system was replaced by a two-step, from the previous German Central Bank and the German Investment Bank created the State Bank of the GDR and the Commerce and Industry Bank (IHB).
The IHB began its activities on January 1, 1968 on the basis of the resolution of the Council of Ministers of the GDR of December 13, 1967. It took over the commercial bank function and all branches of the German Central Bank with the land, buildings and inventory used by them. In addition, the IHB acted as legal successor to the Deutsche Investitionsbank, whose assets and liabilities were transferred to it. The tasks, rights and obligations as well as the management and organization of the IHB were regulated by the statute established by the GDR Council of Ministers on December 13, 1967. In 1974 the tasks of the industrial and commercial bank were taken over by the State Bank of the GDR.
literature
- Detlev Hummel: History of the banking industry in the GDR from 1945 - 1989. Potsdam 1997.
Individual evidence
- ↑ a b c d e Federal Archives: Industrie- und Handelsbank
- ^ Sächsisches Staatsarchiv Portal Europe