Portal:Banks

The Banks and Banking Portal

The Bank of England, established in 1694

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.

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. (Full article...)

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Did you know...

  • ... that the primarily glass facade of 510 Fifth Avenue was said to have "led the banking profession out of the cellar and onto the street"?
  • ... that during contract bidding for structural steel for New York City's New Lots Line, all three bids were rejected partly because the chief engineer was banking on steel prices falling?
  • ... that the final owners of Connecticut's WQQW radio station were involved in a fraudulent banking ring that toppled the town's mayor?
  • ... that the Hanbo scandal, one of South Korea's largest corruption cases, involved presidential aides, a former minister, and top banking executives?
  • ... that £100,000,000 notes known as "Titans" are locked away in the Bank of England?
  • ... that when the National City Bank of New York moved to 55 Wall Street in 1908, messengers carried the bank's $500 million holdings across the street in leather satchels?

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