History of the banks (ancient banks)

When the Roman Empire (ancient greece) disintegrated at the end of III century, banking continued to develop in the eastern part of the former empire. After the fall of its western part in the early Middle Ages, banking in Europe has not died completely. However, only in the XI-XIV centuries, when Western Europe witnessed a remarkable increase in population, production and trade, banking revived and began to play an important role in society. The earliest evidence of the medieval bankers’ existence has been found in the written sources originated from the Italian cities dating back to the XII century. Typically, a banker, doing business, was sitting on the bench that looked like a table, called bancum, so that the word “banker” comes from bancherius. Although the main function of the bankers in those days was the exchange of money, by 1200 they have already been taking deposits and paying interest on it. In addition, medieval bankers eased the conduct of commercial cases, made loans, opened credits to customers.
money in ancient Greece, ancient counterfeiting, banking in ancient greece

By XIV century moneychangers-bankers of this kind could be easily found in any European shopping center. Written orders, which were similar to modern checks, were used for the transfer of funds. Activity of most medieval bankers did not spread beyond a limited geographical region. Only very few of them supported the relationship with bankers in other countries and agreed to transfer the money over long distances. These functions could better describe the large retailers (merchants, bankers, or merchant bankers) who, due to the nature of their activities were more able to transfer money over long distances and to make loans to customers from quite distant places. In the XIV-XV merchants and bankers have greatly expanded network of agents in Europe to be able to maintain financial and business affairs on a large area.
. can be divided into separate periods: the colonial period, when financial institutions and markets were not numerous and performed basic functions; banking until 1863, early period of national development from American Revolution to the Civil War, when many current financial institutions were created and financial markets began to develop; banking from 1863 to 1913, when there was a sharp increase in the assets and operations of the American financial institutions and markets; banking from 1935 to 1945, when the state regulation of the banking increased; banking since 1945, when the state regulation and deregulation developed at full measure, internationalization emerged, the number of financial products multiplied, scandalous stories appeared and banking has become more complex and competitive. In 1661 the colonial legislature of Massachusetts passed the Law on usury. From this day begins the history of U.S. banks.