|
National Westminster Bank USA
National Westminster Bank USA, commonly known as NatWest USA, was a wholly owned subsidiary of National Westminster Bank in the United Kingdom from 1983 to 1996. Formed as the National Bank of North America in 1905, the U.S. retail banking operation was sold to Fleet Financial Group in 1996. During its existence, National Westminster Bank USA was a commercial bank with a national charter and a member of the Federal Reserve System, supervised by the Office of the Comptroller of the Currency. History National Provincial Bank Limited first entered the United States with a branch in New York, shortly before merging with Westminster Bank Limited in 1970.Tschoegl, Adrian EForeign Banks in the United States Since World War II: A Useful Fringe (pp. 24-25) The Wharton Financial Institutions Center, University of Pennsylvania (00-42), November 2000 National Bank of North America The National Bank of North America was founded in New York in 1851. In 1970, it acquired Trade Bank and Tru ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Services
Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, consumer-finance companies, stock brokerages, investment funds, individual asset managers, and some government-sponsored enterprises. History The term "financial services" became more prevalent in the United States partly as a result of the GrammLeachBliley Act of the late 1990s, which enabled different types of companies operating in the U.S. financial services industry at that time to merge. Companies usually have two distinct approaches to this new type of business. One approach would be a bank that simply buys an insurance company or an investment bank, keeps the original brands of the acquired firm, and adds the acquisition to its holding company simply to diversify its earnings. Outside the U.S. (e.g. Japan), non-financia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Edge Act
The Edge Act is a 1919 amendment to the United States Federal Reserve Act of 1913, codified at {{UnitedStatesCode, 12, 611, 631, which allows national banks to engage in international banking through subsidiaries chartered by the Board of Governors of the Federal Reserve System. The act is named after Walter Evans Edge, a U.S. Senator from New Jersey who sponsored the original legislation for these types of subsidiaries. The impetus for the act was to give U.S. firms more flexibility to compete with foreign firms. Edge Act Corporation (EAC) An Edge Act Corporation is a subsidiary of a bank or bank holding company or financial holding company, that is chartered by the Federal Reserve under Section 25A of the Federal Reserve Act, as amended in 1916 and 1919, to engage in foreign banking activities. The Federal Reserve Board authorizes U.S. and foreign banking and financial organizations to establish Edge Act Corporations. It also regulates and examines the foreign activities of Edg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Established In 1983
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 a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
NatWest Group
NatWest Group plc is a British banking and insurance holding company, based in Edinburgh, Scotland. The group operates a wide variety of banking brands offering personal and business banking, private banking, investment banking, insurance and corporate finance. In the United Kingdom, its main subsidiary companies are National Westminster Bank, Royal Bank of Scotland, NatWest Markets and Coutts. The group issues banknotes in Scotland and Northern Ireland; , the Royal Bank of Scotland was the only bank in the UK to still print £1 notes. Before the 2008 collapse and the general financial crisis, the Group was very briefly the largest bank in the world, and for a period was the second-largest bank in the UK and Europe and the fifth-largest in the world by market capitalisation. Subsequently, with a slumping share price and major loss of confidence, the bank fell sharply in the rankings, although in 2009 it was briefly the world's largest company by both assets (£1.9 trillion ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
NatWest Three
The NatWest Three, also known as the Enron Three, are three British businessmen – Giles Darby, David Bermingham and Gary Mulgrew. In 2002 they were indicted in Houston, Texas on seven counts of wire fraud against their former employer Greenwich NatWest, at the time a division of National Westminster Bank, as part of the Enron scandal. After a high-profile battle in the British courts they were extradited from the United Kingdom to the United States in 2006. On 28 November 2007, each pleaded guilty to one count of wire fraud in exchange for the other charges being dropped. On 22 February 2008 they were each sentenced to 37 months in prison. Initially they were jailed in the US, but were later repatriated to British prisons to serve out the rest of their sentences. They were released from custody in August 2010. Background In 2000 the three worked for Greenwich NatWest, then a unit of National Westminster Bank, later acquired by Royal Bank of Scotland (RBS). The three were inv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Greenwich NatWest
NatWest Markets is the investment banking arm of NatWest Group. It was created from the then RBS Group's corporate and institutional banking division in 2016, as part of a structural reform intended to comply with the requirements of the Financial Services (Banking Reform) Act 2013 and to give the NatWest brand greater prominence. The Act implements the Independent Commission on Banking recommendation that domestic retail banking should be "ring-fenced" from riskier trading activities by 2019. The ring-fenced group, NatWest Holdings, was created at the same time. To give it legal form, The Royal Bank of Scotland was renamed NatWest Markets in 2018; at the same time Adam and Company (which held a separate PRA banking licence) was renamed The Royal Bank of Scotland, with Adam and Company continuing as an RBS private banking brand. History The NatWest Markets name was previously used from 1992 to 1997, the remnants of which were absorbed into the Royal Bank of Scotland Group on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Westminster Bank Of Canada
National Westminster Bank of Canada (french: Banque National Westminster du Canada), commonly known as NatWest Canada, was a wholly owned subsidiary of National Westminster Bank, a global integrated financial service group based in the United Kingdom, which operated from 1982 to 1998. History The Canadian operation provided domestic and international banking services through its branches in Montreal, Toronto, Calgary and Vancouver. It was chartered in 1982 and acquired by Hongkong Bank of Canada, a subsidiary of HSBC Holdings, pursuant to statutory amalgamation agreements in 1998. At the time, net assets were CAN$107m. The following year, HBC became HSBC Bank Canada, consistent with their strategy of creating a global brand. Earlier operations Lombank Canada Limited was formed as a subsidiary of London-based Lombard Banking Limited in 1955. Lombard Banking was acquired by National Westminster Bank in 1970 and merged with North Central Finance in 1971, to form Lombard North Cent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Westminster Bank
International Westminster Bank was a wholly-owned subsidiary of National Westminster Bank and its predecessors from 1913 to 1989, with branches in London, France, Spain and West Germany. At the peak of its operations during the 1980s, the bank had a multibillion-pound deposit base, principally through its London office, which administered the commercial loan and deposit book on behalf of National Westminster Bank's International Division. As such, it engaged in wholesale fixed-term deposits with other banks, corporates and some individual private customers; it accepted short term and medium deposits (up to 12 months) against issuance of its own dollar and sterling-denominated certificates of deposit (CDs); and it administered commercial loans to corporate clients and sovereign governments. History The bank was formed as London County and Westminster Bank (Paris) Limited in 1913. It was renamed London County Westminster and Parr's Foreign Bank Limited in 1920 and shortened to W ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of America
The Bank of America Corporation (often abbreviated BofA or BoA) is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina. The bank was founded in San Francisco. It is the second-largest banking institution in the United States, after JPMorgan Chase, and the second largest bank in the world by market capitalization. Bank of America is one of the Big Four banking institutions of the United States. It serves approximately 10.73% of all American bank deposits, in direct competition with JPMorgan Chase, Citigroup, and Wells Fargo. Its primary financial services revolve around commercial banking, wealth management, and investment banking. One branch of its history stretches back to the U.S.-based Bank of Italy, founded by Amadeo Pietro Giannini in 1904, which provided various banking options to Italian immigrants who faced service discrimination. Originally headqu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Bank
In banking, the term national bank carries several meanings: * a bank owned by the state * an ordinary private bank which operates nationally (as opposed to regionally or locally or even internationally) * in the United States, an ordinary private bank operating within a specific regulatory structure, which may or may not operate nationally, under the supervision of the Office of the Comptroller of the Currency. In the past, the term "national bank" has been used synonymously with "central bank", but it is no longer used in this sense today. Some central banks may have the words "National Bank" in their name; conversely if a bank is named in this way, it is not automatically considered a central bank. For example, National Bank of Canada of Montreal, Canada, is a privately owned commercial bank. On the other hand, National Bank of Ethiopia is the central bank of Ethiopia and National Bank of Cambodia is the central bank of Cambodia. By country Afghanistan Pashtany Bank is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bankers Trust Company
Bankers Trust was a historic American banking organization. The bank merged with Alex. Brown & Sons in 1997 before being acquired by Deutsche Bank in 1999. Deutsche Bank sold the Trust and Custody division of Bankers Trust to State Street Corporation in 2003. History In 1903 a group of New York national banks formed trust company Bankers Trust to provide trust services to customers of state and national banks throughout the country on the premise that it would not lure commercial bank customers away. In addition to offering the usual trust and commercial banking functions, it also acted as a "bankers' bank" by holding the reserves of other banks and trust companies and loaning them money when they needed additional reserves due to unexpected withdrawals. Bankers Trust Company was incorporated on March 24, 1903, with an initial capital of $1.5 million. Despite technically having numerous stockholders, the voting power was held by three associates of J.P. Morgan. Thus, it was w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Westminster Bank
National Westminster Bank, commonly known as NatWest, is a major retail and commercial bank in the United Kingdom based in London, England. It was established in 1968 by the merger of National Provincial Bank and Westminster Bank. In 2000, it became part of The Royal Bank of Scotland Group, which was re-named NatWest Group in 2020. Following ringfencing of the group's core domestic business, the bank became a direct subsidiary of NatWest Holdings; NatWest Markets comprises the non-ringfenced investment banking arm. The British government currently owns around 48.1%, previously 54.7% of NatWest Group after spending £45 billion ($61.87 billion) bailing out the lender in 2008. NatWest is considered one of the Big Four clearing banks in the UK, and it has a large network of over 960 branches and 3,400 cash machines across Great Britain and offers 24-hour ''Actionline'' telephone and online banking services. Today, it has more than 7.5 million personal customers and 850 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
.jpg "Click for more on -> International Westminster Bank")
