The Narkomfin commissar was part of
Sovnarkom.
Nikolai Krestinsky was the first commissar, appointed in 1918. However, following the introduction of the
New Economic Policy, Narkomfin was made responsible for
Gosbank, the State Bank of the RSFSR and then the
Soviet Union. On 26 November 1921,
Lenin issued a note calling for the appointment of
Grigory Sokolnikov, who took control of the organisation in 1922, although his formal position was not ratified until December 1922. In 1946, the People's Commissariat for Finance was
transformed and renamed into the Ministry of Finance of the RSFSR. After the failed
August Coup of 1991,
Boris Yeltsin and the RSFSR Ministry of Finance claimed authority over the
Ministry of Finance of the USSR, the
Gosbank, and
Vnesheconombank. These Soviet institutions could not carry out any orders without the consent of the RSFSR Ministry of Finance. The Ministry of Finance of the USSR continued functioning until the Ministry of Finance of the RSFSR issued a decree completing its takeover of the Soviet financial system. The RSFSR Ministry of Finance was succeeded by the Ministry of Economics and Finance of the
Russian Federation (1991), and the
Ministry of Finance of the Russian Federation (1992). ==Commissars and ministers==