banking. A system of trading in money which involved safeguarding deposits and making funds available for borrowers, banking developed in the Middle Ages in response to the growing need for credit in commerce. The lending functions of banks were undertaken in England by money-lenders. Until their expulsion by Edward I in 1291, the most important money-lenders were Jews, since they were not bound by canon law which forbade usury. They were replaced by Italian merchants who had papal dispensations to lend money at interest. In the 13th cent. credit was essential to finance commerce and major projects. The most important was the wool trade but other examples included large buildings such as Edward's castles in north Wales. When Italians had their activities in England curtailed in the early 14th cent., they were replaced by English merchants and goldsmiths, whose rates of interest were
Tuesday, September 8, 2009
banking
banking Commercial process providing a wide range of financial services, such as holding and transferring money, providing loans, and giving stability to the financial sector of the economy. There are a variety of sectors in the banking industry. Clearing banks in the UK and commercial banks in the USA deal with the public, as well as with small and medium-sized businesses and corporations; merchant banks or investment banks provide services to business and industry, such as investment loans or share flotations. In many countries there are other providers of banking services, such as insurance companies and credit card firms, as well as building societies in the UK and savings and loan associations in the USA. A country's central bank, sometimes under government control, is the bankers' bank and can be used to regulate an economy.
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banking Commercial process providing a wide range of financial services, such as holding and transferring money, providing loans, and giving stability to the financial sector of the economy. There are a variety of sectors in the banking industry. Clearing banks in the UK and commercial banks in the USA deal with the public, as well as with small and medium-sized businesses and corporations; merchant banks or investment banks provide services to business and industry, such as investment loans or share flotations. In many countries there are other providers of banking services, such as insurance companies and credit card firms, as well as building societies in the UK and savings and loan associations in the USA. A country's central bank, sometimes under government control, is the bankers' bank and can be used to regulate an economy.
banking
Types of Banks
Banks have traditionally been distinguished according to their primary functions. Commercial banks, which include national- and state-chartered banks, trust companies, stock savings banks, and industrial banks, have traditionally rendered a wide range of services in addition to their primary functions of making loans and investments and handling demand as well as savings and other time deposits. Mutual savings banks , until recently, accepted only savings and other time deposits, and offered limited types of loans and services. The fact that commercial banks were able to expand or contract...
Banking markets and the use of financial services by households. (Survey by Board of Governors of the Federal Reserve System)
Newspaper article from: Federal Reserve Bulletin; 3/1/1992; Elliehausen, Gregory E. Wolken, John D.; 700+ words ...likely to reduce the competitiveness of banking services. And whether competition would...geographic area that constitute the "banking market." The current definition assumes...institutions offering the full range of banking products. Therefore, only local commercial...
Online Banking - One of the Fastest Growing Internet Sectors.
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