https://padlet.com/calvehan000/75239aczjyyb Made with love en-us 2018-09-13 16:57:57 UTC 2018-09-17 17:27:48 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Soccerball.png calvehan000 https://padlet.com/calvehan000/75239aczjyyb/wish/280968398 The Bank of North America, established by the Continental Congress, becomes the first chartered bank in the U.S.]]> 2018-09-13 17:30:26 UTC https://padlet.com/calvehan000/75239aczjyyb/wish/280968398 calvehan000 https://padlet.com/calvehan000/75239aczjyyb/wish/280969552 A group of New York investors establish the Bank of Manhattan to fund construction of a water supply for New York City. The state of New York charters the bank.

]]> 2018-09-13 17:32:37 UTC https://padlet.com/calvehan000/75239aczjyyb/wish/280969552 calvehan000 https://padlet.com/calvehan000/75239aczjyyb/wish/280970510 The Farmer's Exchange Bank in Glouchester, Rhode Island, fails—the first U.S. bank failure.

]]> 2018-09-13 17:34:21 UTC https://padlet.com/calvehan000/75239aczjyyb/wish/280970510 calvehan000 https://padlet.com/calvehan000/75239aczjyyb/wish/280973876 More than 420 banks exist in the U.S. All of them printing bank notes and making loans.]]> 2018-09-13 17:39:59 UTC https://padlet.com/calvehan000/75239aczjyyb/wish/280973876 calvehan000 https://padlet.com/calvehan000/75239aczjyyb/wish/280975799 New York is the first state to adopt an insurance plan for bank obligations. Between 1829 and 1866, five other states adopt similar plans.]]> 2018-09-13 17:42:49 UTC https://padlet.com/calvehan000/75239aczjyyb/wish/280975799 calvehan000 https://padlet.com/calvehan000/75239aczjyyb/wish/280978608 With the demise of the Second Bank of the United States in 1837, only state-chartered banks exist. During this period, known as the Free Banking Era, state chartering standards often are not very stringent, and many new banks are formed. Large numbers of them will fail. The era ends with the passage of the National Currency Act in 1863.]]> 2018-09-13 17:46:51 UTC https://padlet.com/calvehan000/75239aczjyyb/wish/280978608 calvehan000 https://padlet.com/calvehan000/75239aczjyyb/wish/280981825 The first issue of the Bank Note Reporter is published. This weekly report on the value and validity of the bank notes was the most respected of many such publications that merchants relied upon to evaluate the reliability of currency.

]]> 2018-09-13 17:51:21 UTC https://padlet.com/calvehan000/75239aczjyyb/wish/280981825 calvehan000 https://padlet.com/calvehan000/75239aczjyyb/wish/280984204 Wealth compressed into the convenient form of gold brings one disadvantage. Unless well hidden or protected, it is easily stolen. ]]> 2018-09-13 17:55:10 UTC https://padlet.com/calvehan000/75239aczjyyb/wish/280984204 calvehan000 https://padlet.com/calvehan000/75239aczjyyb/wish/280987741 Banking activities in Greece are more varied and sophisticated than in any previous society. Private entrepreneurs, as well as temples and public bodies, now undertake financial transactions. They take deposits, make loans, change money from one currency to another and test coins for weight and purity. ]]> 2018-09-13 18:00:39 UTC https://padlet.com/calvehan000/75239aczjyyb/wish/280987741 calvehan000 https://padlet.com/calvehan000/75239aczjyyb/wish/280990254 The Christian prohibition on usury eventually provides an opportunity for bankers of another religion. European prosperity needs finance. The Jews, barred from most other forms of employment, supply this need. But their success, and their extreme visibility as a religious sect, brings dangers. ]]> 2018-09-13 18:04:48 UTC https://padlet.com/calvehan000/75239aczjyyb/wish/280990254 calvehan000 https://padlet.com/calvehan000/75239aczjyyb/wish/282459000 During the 13th century bankers from north Italy, collectively known as Lombards, gradually replace the Jewsin their traditional role as money-lenders to the rich and powerful. The business skills of the Italians are enhanced by their invention of double-entry book-keeping. Creative accountancy enables them to avoid the Christian sin of usury; interest on a loan is presented in the accounts either as a voluntary gift from the borrower or as a reward for the risk taken. ]]> 2018-09-17 16:51:24 UTC https://padlet.com/calvehan000/75239aczjyyb/wish/282459000 calvehan000 https://padlet.com/calvehan000/75239aczjyyb/wish/282460515 At the start of the 15th century the Medici are Europe's greatest banking dynasty, but their political power later distracts them from the highly focussed business of making money. After the reign of Lorenzo the Magnificent the bank's finances are in a perilous state. ]]> 2018-09-17 16:53:27 UTC https://padlet.com/calvehan000/75239aczjyyb/wish/282460515 calvehan000 https://padlet.com/calvehan000/75239aczjyyb/wish/282463494 Venice, after being possibly the first city to found a bank for the keeping of money on safe deposit and the clearing of cheques, is also a pioneer in the involvement of a bank with state finances. In 1617 the Banco Giro is established to solve problems encountered by the earlier Banco della Piazza di Rialto, which has got into trouble through the making of unsecured loans.]]> 2018-09-17 16:57:47 UTC https://padlet.com/calvehan000/75239aczjyyb/wish/282463494 calvehan000 https://padlet.com/calvehan000/75239aczjyyb/wish/282466073 Checks become a more common means of payment.

]]> 2018-09-17 17:01:30 UTC https://padlet.com/calvehan000/75239aczjyyb/wish/282466073 calvehan000 https://padlet.com/calvehan000/75239aczjyyb/wish/282466964 Bank of America launches a credit card in California.In 1966, the bank licenses BankAmericard, and in 1976, it changes its name to Visa.

]]> 2018-09-17 17:02:47 UTC https://padlet.com/calvehan000/75239aczjyyb/wish/282466964 calvehan000 https://padlet.com/calvehan000/75239aczjyyb/wish/282471275 Both J.P. Morgan Chase and Bank of America report more than $1 trillion of bank and non-bank assets.

]]> 2018-09-17 17:08:45 UTC https://padlet.com/calvehan000/75239aczjyyb/wish/282471275 calvehan000 https://padlet.com/calvehan000/75239aczjyyb/wish/282472473 Citigroup agrees to pay $2 billion to settle a class-action lawsuit over its role in the Enron collapse.
In 2002, Citigroup sold stocks and bonds in the company before Enron filed for bankruptcy.

]]> 2018-09-17 17:10:32 UTC https://padlet.com/calvehan000/75239aczjyyb/wish/282472473 calvehan000 https://padlet.com/calvehan000/75239aczjyyb/wish/282477990
The prime minister of Iceland, Geir Haarde, resigns after the collapse of his country's banking system]]> 2018-09-17 17:18:33 UTC https://padlet.com/calvehan000/75239aczjyyb/wish/282477990 calvehan000 https://padlet.com/calvehan000/75239aczjyyb/wish/282480153 The definition of capital is unchanged; however, Basel II allows the largest banks to use their own internal ratings systems to measure credit risk, as well as requires banks to measure and hold capital against operational risk.]]> 2018-09-17 17:21:21 UTC https://padlet.com/calvehan000/75239aczjyyb/wish/282480153 calvehan000 https://padlet.com/calvehan000/75239aczjyyb/wish/282481437 For the first time, electronic payments (automatic transactions, credit cards, and debit cards) totaling $44.5 billion outnumber paper checks totaling $36.7 billion.

]]> 2018-09-17 17:22:56 UTC https://padlet.com/calvehan000/75239aczjyyb/wish/282481437