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BANK

bank is a financial company that is responsible for raising funds in the form of deposits and lending money, and the provision of financial services . The bank or the banking system is the set of entities or institutions within an economy determined bank providing the service. The internalization and globalization promote the creation of a universal banking . Like the Spanish word "bank", the Greek word (eg traf ‧ ‧ za) bank which translates literally means " table ". In a financial context, such as the work of the moneychangers , refers to the counter for the transaction of money

History of banking

Loans are existing records in Babylon during the eighteenth century. performed by temple priests to merchants. The trapezitas were bankers in ancient Greece . Trapeza was the table behind which were in stores, sometimes intended to other business, but very often bank transactions. The major banks were still the great temples however, where the priests made fruitful the money they received on deposit according to loans to individuals and cities. Pythius of Lydia , in Asia Minor, early V century a. C. , was the first individual banker which there are records. Many of the bankers of the Greek city-states were " metics "or foreign residents. About 371. C. , passion a slave , became the banker richer and more famous in Greece.

There is evidence that such operations were made possible in times of Abraham , as the ancient Sumerians in the plains of Shinar were "uniquely complex system of giving and receiving loans, keep money on deposit and provide letters of credit . " In Babylonia and later in Greece, banking centered around the temples religious whose sacrosanct nature posed a security against thieves.

Banks in Roman times did not work as modern. Most banking activities were carried out by individuals and not by institutions. Large investments were financed by faeneratores, while those working professionally in the business of money and credit were known by various names, such as argentarii (banker), nummularii (money changer) and cofactors (collectors).

During the first century banks in Persia and other territories in the Sassanid Empire issued letters of credit known as SAKKS. Muslim traders are known to have used Karimi check or sakk system since the time of the Abbasid Caliphate under Harun al-Rashid . In the ninth century a businessman putting cash Muslim primitive form of check in China drawn on sources in Baghdad, a tradition that has been strengthened significantly in the centuries XIII and XIV , during the Mongol Empire . In fact, the fragments found in the Geniza of Cairo indicate that in the twelfth century checks similar to ours were in use, only smaller to save costs on paper. Contain an amount to be paid, order. The date and the name of the issuer are also apparent.

Medieval trade fairs, such as that of Hamburg , contributed to the growth of banking in a curious way: moneychangers were issuing documents available with other fairs, a currency exchange. These documents could be cashed at another fair in a different country or at a future fair in the same place. They were redeemable at a future date, often were discounted by an amount comparable to an interest rate .

Starting around 1100 , the need to transfer large sums of money to finance the Crusades stimulated the resurgence of banking in Western Europe . In 1156 , in Genoa , there were the first known foreign exchange contracts. Two brothers borrowed 115 pounds Genoese and agreed to reimburse the bank's agents in Constantinople the sum of 460 bezants one month after his arrival in that city.

The money changer and his wife,

The first modern bank was founded in Genoa , Italy in 1406, its name was Banco di San Giorgio . The first banks were at the time of the Renaissance in cities such as Venice , Pisa , Florence and Genoa.

The name "bank" derives from the Italian word bank, "desk", used during the Renaissance by bankers Jews Florentines who made their transactions on a table covered by a green tablecloth.

The members of the Family Fugger or Fuggers of Augsburg , along with the banker Welser were kings Charles I and Philip II of Spain . After the Siege of Antwerp , the financial center moved to Amsterdam to the Industrial Revolution . In 1609 the bank was founded there Amsterdamsche Wisselbank. Bank branches were located at the centers of trade, the largest of which were during the seventeenth century the ports of Amsterdam , London and Hamburg . Some people could participate in the lucrative East India trade by purchasing bills of credit from banks.

Over the centuries XVIII and XIX saw a massive growth in banking. Banks played a key role in the movement of gold and silver coins based on paper money, redeemable for their holdings. For general economic stability as collateral for customers became necessary during the twentieth century, the establishment of financial regulation in most countries, to establish minimum standards of banking and financial competition and avoid or face possible bankruptcy bank, especially during economic downturns .

Since 1980 there are ethical or social banks (see: Social Banking ) being its funding goal of social, environmental and cultural speculation rejecting any such funds.

Typical Banking

Many of these basic banking parameters are derived from the Financial Statements primary secondary and creating new indexes to measure.

Passive operations

Made up of those operations for which the bank collects, receives or collects money from people.

The fundraising operations, called passive character operations are implemented by means of deposits. Bank deposits fall into three broad categories:

CURRENT ACCOUNT

The Current Account (Cta. cte.) Is a contract where the cardholder makes banking income funds. With a current account deposits may have immediately admitted through checkbooks , ATMs or the window of the box or bench . An account that does not earn interest on the owner.

Current account can only withdraw money by check, in advances and purchases.

The current account for another series of transactions with banks:

The award of a credit is reflected in the current account.

Household payments can be through it.

Discounts are possible effects.

Charge interest.

Paying interest.

Collect taxes .

Paying taxes.

It is an account that is used primarily to expenses of the owner. The payment methods that can be used associated with checking accounts include:

Checkbook .

Credit card .

Debit card .

Electronic

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