In eighteen years, the Czech banking and financial market has changed beyond recognition. Let’s get down to a time when banking was in its infancy against the day. Vouchers and purchases in Tuzex were a dream for everyone working, but on the contrary, there was a deposit book with the input of three percent of the year, when the pension bag was expected for a year.
The banking sector was not nearly as long as it is today. Before the November Revolution, a total of five banks operated in our country, with only two of this pot providing their products to so-called small clients. It was an Esk sttn spořitelna and today there is no non-profit bank.
Foreign exchange and in the bank? The only in ivnostensk
The first named – esk sttn spoitelna (according to only STSP) offered its mass services. The second – rate bank was exchanged for foreign exchange operations and the management of payments made from abroad and for Czechoslovak citizens temporarily working abroad. As the only one at that time, she led foreign exchange and Tuzex residents and carried out collection and payment operations connected with them. At the end of the 80s, these t managed 120 thousand.
Tuzex’s account expired and after the adoption of the amendment to the foreign exchange bill, it entered into force on 1 July 1992. Deposits on these were repaid at the rate of 1 DEM for 5.5 Tuzex crowns. As of the dark date, Tuzex vouchers, so-called vouchers, were canceled (collection of vouchers abroad or at Tuzex stores).
The symbol of the “eight hundred” were deposit books, sporoiro and Novomanelsk loans
Until 1989 (in fact, several years later), the Czech Savings Bank had a monopoly on the provision of banking services to the population. The most important STSP products were deposit books and well-known savings banks. Deposits, withdrawals, passbooks are kept here, as well as payment orders – this was provided to clients free of charge.
There were a number of passbooks and it was possible to base them either on the bearer or on the name. There were also several options for protecting deposits on deposit books (including bearer books). The so-called bindings were used for this purpose. Vinkulac, for example, was obliged to give a specific password when paying for the deposit, brew the third person mentioned in the book to collect, and it was possible to pay the deposit and then what happened a certain event (and it was certain that it would occur – . It was only possible to insert and select from the passbook at the branch that issued the passbook. The only alternative to washing at other savings banks were travel passbooks.
The most popular were deposit books without a due period with a year of 2%, a huge deposit book (without a year, but promising a profit of winnings and a bonus) and books with a payable fee with a year of 4% (ie it was necessary to pay 12 msc, then followed the period of urns for vbr – the so-called deadline realized, which lasted two months). Deposits on these passbooks accounted for more than 87% of the total volume of deposits managed by the savings bank. The total number of STSP deposit books at the end of 1989 today reached such a reversible strength – 14.812 million pieces.
The financial needs of the population were much more irritating. Therefore, with the encounter of 1972, Sporoirov (inspired by the STDR) appeared among the services provided by STSP. Sporoers were 2% of the year and, in addition to cash transactions, allowed owners to pay cashless with one-time and permanent orders. At the end of 1988, there were 1.5 million Sporoirs, so on the dark date, 7.5 billion Ks were deposited on them.
To give you a better idea: the average monthly wage of the workers in the central and hard-working sector reached 3,085 Ks in 1988 (it cost 701 kilograms of bread to buy, in 2005 it was possible to buy 1268 kilograms of bread for an average wage of 19,030 crowns).
STSP issued payment instruments for this. They were able to pay in selected stores and withdraw cash in any branch of the savings bank with us (the first payment cards began to be issued with us in 1988 – ivnostensk banka called the Tuzx dark card, the first ATM appeared in mid-1989).
Not only deposit services were widely used financial services, but loans were also included. The most popular is the very popular Newlywed loans (introduced in 1948 to help solve the problem of living with young people affected by the wolf). They were provided up to a maximum of 30, resp. 50 thousand K (after 1 July 1987) with a year of 2.5% per annum for the number of dwellings and 1% per annum for the number of dwellings. In order to obtain loans, it was always necessary to get a guarantor. The loan had to be repaid within 10 years at the latest.
The Novomanel loans, together with the supporters supporting the individual and especially the hard construction, accounted for 79% of the total volume of loans registered by the STSP.
Ron prmry kurz nkterch mn v Praze (r. 1988)
100 DDM (bval NDR) = 301.56 Ks
Source: Statistick roenka r. 1990