Banque Commerciale pour l'Europe du Nord – Eurobank

Banque Commerciale pour l’Europe du Nord (BCEN) or Banque Commerciale pour l'Europe du Nord – Eurobank (BCEN-Eurobank) was a Soviet-controlled bank in Paris, founded in 1921 by wealthy Russian emigres and supported by the Council of People's Commissars (SovNarKom) (Russian: Совнарком) through Leonid Krasin who, in 1925, sold their stakes to the Soviet Union. It maintained correspondent accounts with Western banks to secure lines of credit for facilitating Soviet imports into that country in which the correspondent account is located. Also, these correspondent accounts performed foreign currency exchange for the Kremlin.