№ 12/2021

Fìnansi Ukr. 2021 (12): 114–128https://doi.org/10.33763/finukr2021.12.114

MONETARY POLICY

SHAROV Oleksandr ¹

¹SO "Institute for Economics and Forecasting of the NAS of Ukraine"
OrcID ID : https://orcid.org/0000-0001-8460-9996

The case of the Sberbank of the USSR - thirty years later

The article covers the issue of the “disappeared” deposits of the population in the USSR Savings bank , and attempts to solve the problem. The role of the USSR Savings bank in the monetary system, the impact of the so-called Pavlov monetary reform and the collapse of the unified all-Union system of the USSR Savings bank as well as the role it played in the emergence of the "deposit crisis" are considered. It is concluded that there are reasons of complex nature: political, organizational and institutional and technical- methodological that led to it. According to the author, the main role in the emergence of the problem in Ukraine was played by the unorganized nature of the Soviet credit and financial system sharing between the newly established states - former Soviet republics and unprofessional reaction to the situation by then top management of the Savings bank, the National Bank of Ukraine and the state as a whole. So, the restoration of historical justice for citizens who suffered significant losses due to the deprivation of their money savings, is possible only with the appropriate political will.

Keywords:collapse of the USSR, Savings bank, credit and financial system, money savings

JEL: G28, N24

Sharov O. . The case of the Sberbank of the USSR - thirty years later / O. Sharov // Фінанси України. - 2021. - № 12. - C. 114-128.

Article original in Ukrainian (pp. 114 - 128)

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