Finance and the first Italian bank

The word bank appears in French in the mid-fifteenth Century. In the late Middle Ages, the activity of money changer had developed over the proliferation of currencies. The Lombard bankers then bring two fundamental innovations at the base of the rise of Western capitalism: the current account, made possible by the invention of concurrent double entry bookkeeping and letter of credit. Now, traders can trade more confidently and movement without having to carry large sums of money on the roads unsafe even in Europe. The first banks are family include the Medici in Italy, which open in Germany Fugger banking institutions in big cities. But large financial enrich their relationship with government.

Drugs are the financiers of the Church of Rome for the benefit of which they collect and centralize the ecclesiastical tithes. The first banks are family include the Medici in Italy, which open in Germany Fugger banking institutions in big cities. Christian dogma, which considered usury as a sin, no longer fulfilled, the introduction of the new concept of "purgatory" for the theological laxity. This is not about to let the Jews exclusive of the pension credit. The Fugger play their role with Charles V as he is the main banker of Germanic Europe. Fugger bankruptcy will follow that of imperial failure of Charles Quint. The Bank of Amsterdam is following closely the political fortunes of Orange.

History of Bank

The history of the bank follows the major stages in the history of money even if certain customary financial transactions of banks (eg loan interest) have been identified since ancient times even before the invention of money. The trapezium is Italy's equivalent of the so called changers later. The trapezisti, in Italian, is the table that installs these exchange specialists who buy tickets and sell various coins in circulation in Italy.

These specialists, whose nuclei are protected, receive deposits and can play an intermediary role in the sponsorship including shipping. They may occasionally make loans, but have no monopoly. The temples also store coins and may occasionally lend. This typical situation of antiquity where there are bankers, but no bank in the institutional sense, will continue throughout the period of the early Middle Ages. Monetary regression that characterizes this period and the religious prohibition against lending at interest, in Europe reduce the foreign exchange business and credit. The circuits of trade remain, and the monetary transactions of kings, allow a small community of financiers, generally Syriac and Jewish, to continue lending, forex, investment programs of coins minted by mints made and speculation on the price differences between gold and silver between the different European markets and Byzantium.It is from these bases that the hesitant economic expansion, political and commercial thirteenth century century will see the assertive role of private capital and build the first banks in the mainstream of religious authorities, state and commercial;.

Types and diversification of Banks

There are several types of banks in terms of activities they undertake: bank deposit, investment banking, banks specialized in a type of loan, bank etc. generalist. In addition there are often in a given currency area, a particular bank: the central bank. This bank provides ticketing and sets monetary policy.

Financial concentration and development of giant financial institutions versatile (bank deposit, insurance, management of life insurance, asset management, banking, foreign exchange, brokerage firm, etc..) Blur the old distinctions, especially since the bank now manufactures products sold off-balance sheet and managed by enterprises ad hoc (eg SPV, Special Purpose Vehicle, and the proceeds of the securitization) is currently not subject to banking legislation. Globalization is a different strength that has considerably distorted the range of customary banks. Parallel financial disintermediation has seen financing functions formerly performed exclusively by the banking sector made without their concurrence.

Banks

A bank is a company that trades money: it receives and keeps on behalf of his clients their money, offers a variety of investments (savings), provides a means of payment (checks, credit cards, etc..) and exchange, lending money, and generally takes care of all financial services. Banks are the subject matter to strict legislation and control. They offer for the State traceability of monetary dealings and put in to the brawl besides trafficking.

In a legal definition banks are financial institutions doing banking as defined by law and subject to the laws and regulations relevant. In France, article L311-1 of the Monetary and Financial Code provides the following definition:

"The banking processes comprise the acceptance of finances from the communal, credit procedures, as well as make obtainable to clientele or organization income of imbursement ".

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The exact case of financing plan

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