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Banks Established In 1690
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the anc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of England
The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the English Government's banker, and still one of the bankers for the Government of the United Kingdom, it is the world's eighth-oldest bank. It was privately owned by stockholders from its foundation in 1694 until it was nationalised in 1946 by the Attlee ministry. The Bank became an independent public organisation in 1998, wholly owned by the Treasury Solicitor on behalf of the government, with a mandate to support the economic policies of the government of the day, but independence in maintaining price stability. The Bank is one of eight banks authorised to issue banknotes in the United Kingdom, has a monopoly on the issue of banknotes in England and Wales, and regulates the issue of banknotes by commercial banks in Scotland and Northern Ireland. The Bank's Monetary Policy Committee has devolved responsibility for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
House Of Medici
The House of Medici ( , ) was an Italian banking family and political dynasty that first began to gather prominence under Cosimo de' Medici, in the Republic of Florence during the first half of the 15th century. The family originated in the Mugello region of Tuscany, and prospered gradually until it was able to fund the Medici Bank. This bank was the largest in Europe during the 15th century and facilitated the Medicis' rise to political power in Florence, although they officially remained citizens rather than monarchs until the 16th century. The Medici produced four popes of the Catholic Church—Pope Leo X (1513–1521), Pope Clement VII (1523–1534), Pope Pius IV (1559–1565) and Pope Leo XI (1605)—and two queens of France— Catherine de' Medici (1547–1559) and Marie de' Medici (1600–1610). In 1532, the family acquired the hereditary title Duke of Florence. In 1569, the duchy was elevated to the Grand Duchy of Tuscany after territorial expansion. The Medici ruled ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Merchant
A merchant is a person who trades in commodities produced by other people, especially one who trades with foreign countries. Historically, a merchant is anyone who is involved in business or trade. Merchants have operated for as long as industry, commerce, and trade have existed. In 16th-century Europe, two different terms for merchants emerged: referred to local traders (such as bakers and grocers) and ( nl, koopman) referred to merchants who operated on a global stage, importing and exporting goods over vast distances and offering added-value services such as credit and finance. The status of the merchant has varied during different periods of history and among different societies. In modern times, the term ''merchant'' has occasionally been used to refer to a businessperson or someone undertaking activities (commercial or industrial) for the purpose of generating profit, cash flow, sales, and revenue using a combination of human, financial, intellectual and physical capit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Babylonia
Babylonia (; Akkadian: , ''māt Akkadī'') was an ancient Akkadian-speaking state and cultural area based in the city of Babylon in central-southern Mesopotamia (present-day Iraq and parts of Syria). It emerged as an Amorite-ruled state c. 1894 BCE. During the reign of Hammurabi and afterwards, Babylonia was called "the country of Akkad" (''Māt Akkadī'' in Akkadian), a deliberate archaism in reference to the previous glory of the Akkadian Empire. It was often involved in rivalry with the older state of Assyria to the north and Elam to the east in Ancient Iran. Babylonia briefly became the major power in the region after Hammurabi ( fl. c. 1792–1752 BCE middle chronology, or c. 1696–1654 BCE, short chronology) created a short-lived empire, succeeding the earlier Akkadian Empire, Third Dynasty of Ur, and Old Assyrian Empire. The Babylonian Empire rapidly fell apart after the death of Hammurabi and reverted to a small kingdom. Like Assyria, the Babylonian state retained ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Assyria
Assyria (Neo-Assyrian cuneiform: , romanized: ''māt Aššur''; syc, ܐܬܘܪ, ʾāthor) was a major ancient Mesopotamian civilization which existed as a city-state at times controlling regional territories in the indigenous lands of the Assyrians from the 21st century BC to the 14th century BC, then to a territorial state, and eventually an empire from the 14th century BC to the 7th century BC. Spanning from the early Bronze Age to the late Iron Age, modern historians typically divide ancient Assyrian history into the Early Assyrian ( 2600–2025 BC), Old Assyrian ( 2025–1364 BC), Middle Assyrian ( 1363–912 BC), Neo-Assyrian (911–609 BC) and post-imperial (609 BC– AD 630) periods, based on political events and gradual changes in language. Assur, the first Assyrian capital, was founded 2600 BC but there is no evidence yet discovered that the city was independent until the collapse of the Third Dynasty of Ur in the 21st century BC, when a line of independent kin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Berenberg Bank
Joh. Berenberg, Gossler & Co. KG, commonly known as Berenberg Bank and also branded as simply Berenberg, is a multinational full-service investment bank based in Hamburg, Germany. It was founded by the Flemish Berenberg family in 1590 () and is the world's oldest merchant bank. Its owners, the Berenberg/ Gossler family, belonged to the ruling elite of Hanseatic merchants of the city-republic of Hamburg and several family members served in the city-state's government from 1735. Like many other merchant bankers, the Berenbergs were originally cloth merchants. The bank's name refers to Johann Berenberg, his son-in-law Johann Hinrich Gossler and the latter's son-in-law L.E. Seyler, and has remained unchanged since 1791. The bank has operated continuously since 1590 and is still part-owned by members of the Berenberg-Gossler family. Berenberg Bank is active in investment banking, particularly pan-European equity research, brokerage and capital markets transactions, in additio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Merchant Bank
A merchant bank is historically a bank dealing in commercial loans and investment. In modern British usage it is the same as an investment bank. Merchant banks were the first modern banks and evolved from medieval merchants who traded in commodities, particularly cloth merchants. Historically, merchant banks' purpose was to facilitate and/or finance production and trade of commodities, hence the name "merchant". Few banks today restrict their activities to such a narrow scope. In modern usage in the United States, the term additionally has taken on a more narrow meaning, and refers to a financial institution providing capital to companies in the form of share ownership instead of loans. A merchant bank also provides advice on corporate matters to the firms in which they invest. History Merchant banks were the first modern banks. They emerged in the Middle Ages from the Italian grain and cloth merchants community and started to develop in the 11th century during the large Eur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banca Monte Dei Paschi Di Siena
Banca Monte dei Paschi di Siena S.p.A. (), known as BMPS or just MPS, is an Italian bank. Tracing its history to a mount of piety founded in 1472 () and established in its present form in 1624 (), it is the world's oldest or second oldest bank, depending on the definition, and the fifth largest Italian commercial and retail bank. In 1995, the bank (then known as Monte dei Paschi di Siena) was transformed from a statutory corporation to a limited company called Banca Monte dei Paschi di Siena (Banca MPS). The Fondazione Monte dei Paschi di Siena was created to continue the charitable functions of the bank and to be, until the bailout in 2013, its largest single shareholder. According to research by Mediobanca and a press release issued by Banco BPM, Banco BPM overtook BMPS as the third largest commercial banking group in Italy (in terms of total assets) on 31 December 2016, after Banco BPM's formal formation on 1 January 2017. In 2016–17, BMPS was struggling to avoid a collap ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Retail Bank
Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking. Banking services which are regarded as retail include provision of savings and transactional accounts, mortgages, personal loans, debit cards, and credit cards. Retail banking is also distinguished from investment banking or commercial banking. It may also refer to a division or department of a bank which deals with individual customers. In the U.S., the term commercial bank is used for a ''normal'' bank to distinguish it from an investment bank. After the Great Depression, the Glass–Steagall Act restricted normal banks to banking activities, and investment banks to capital market activities. That distinction was repealed in the 1990s. Commercial bank can also refer to a bank or a division of a bank that deals mostly with deposits and loans from c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Oldest Banks In Continuous Operation
This list of the oldest banks includes financial institutions in ''continuous'' operation, operating with the same legal identity without interruption since their establishment until the present time. Depending on the definition, the world's oldest bank is either Banca Monte dei Paschi di Siena or Berenberg Bank. Banca Monte dei Paschi di Siena was founded in its present form in 1624, but traces its history to a mount of piety founded in 1472. The Berenberg company was founded in 1590 and has operated continuously ever since with the same family as owners or major co-owners. Banca Monte dei Paschi di Siena is today a large Italian retail bank, while Berenberg Bank is primarily involved in investment banking and private banking for wealthy customers; in any event Berenberg Bank is the world's oldest merchant bank or investment bank. The world's oldest central bank is the Sveriges Riksbank, which was founded in 1668. __TOC__ Banks established before 1600 Banks established ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rothschild Family
The Rothschild family ( , ) is a wealthy Ashkenazi Jewish family originally from Frankfurt that rose to prominence with Mayer Amschel Rothschild (1744–1812), a court factor to the German Landgraves of Hesse-Kassel in the Free City of Frankfurt, Holy Roman Empire, who established his banking business in the 1760s. Unlike most previous court factors, Rothschild managed to bequeath his wealth and established an international banking family through his five sons, who established businesses in London, Paris, Frankfurt, Vienna, and Naples. The family was elevated to noble rank in the Holy Roman Empire and the United Kingdom. The family's documented history starts in 16th century Frankfurt; its name is derived from the family house, Rothschild, built by Isaak Elchanan Bacharach in Frankfurt in 1567. During the 19th century, the Rothschild family possessed the largest private fortune in the world, as well as in modern world history.''The House of Rothschild: Money's prophets, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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