The operations of particular organizational levels of BR included the following42:

a) Proxy s outlets: financed, extended loans, oversaw investments and certain produc- tion outlays of cooperatives; extended loans for investment projects undertaken by inhabitants of rural areas. Branches of NBP served as backup units handling the oper- ating and accounting matters of proxy s outlets.

b) Regional branches: in addition to special tasks performed by proxy s outlets and involving serving as production cooperatives and providing services to inhabitants of rural areas in the given region (several counties) financing and auditing the invest- ment projects and general renovations of state-owned agricultural enterprises; lending and auditing the operations of contractors of investment projects; administrating investment loans; carrying out accounting operations.

c) Province branches: within their region, carried out the same tasks as a regional branch and, additionally, oversaw and audited their subordinated regional branches and proxy s outlets.

d) Headquarters: coordinated, issued instructions, oversaw and audited its subordinated branches and proxy s outlets.

Scope of activity

Mid-1953 witnessed further changes to the Polish banking system. Those changes also included Bank Rolny. Following reorganization, BR was transformed into a special-pur- pose investment bank for agriculture and forestry. BR transferred part of its operations to the National Bank of Poland, such as financing and auditing the operations of the enterprises subordinated to the Ministry of Agriculture and Forestry; indirectly extending short-term loans to individual peasant s farms; rights and duties of the Headquarters of municipal cooperative savings banks; administration of certain state funds (sowing cam- paign 1945-1948, import of horses, UNRRA). In addition, the bank transferred to National Councils (Rada Narodowa) the administration of State Land Fund (Państwowy Fundusz Ziemi)43. On the other hand, the duties of Bank Rolny included the following: financing and auditing the agricultural and forestry investment projects conducted by enterprises and entities subordinated to the Ministry of Agriculture and Forestry, and state-owned agri- cultural farms (PGR); financing and auditing the general renovations of state agricultural and forestry enterprises; financing and auditing the investment projects of agricultural production cooperatives; financing and auditing long-term production outlays, extending long-term converted, consolidation and special-purpose loans to farmers members

42. Ibidem, pp. 29-30.

43. Ibidem, p. 25.

120 T H E H I S T O R Y O F B G Z