Al Jazeera English
| Apr 4, 2013
A colossal data leak obtained by the International Consortium of Investigative Journalists has exposed the secret offshore accounts of tens of thousands of people and companies -- including more than a few politicians. The ICIJ's deputy director t...
Euronews
| Apr 2, 2013
When you're the French budget minister in charge of cracking down on tax dodgers for the Socialist government, it's probably not a good idea to evade taxes yourself by hiding funds in foreign banks. But that's what Jérôme Cahuzac has ...
Associated Press
| Mar 28, 2013
Security was tight and the crowds were large but mostly patient as Cypriot banks opened their doors for the first time in nearly two weeks. Strict controls are in place to prevent people from taking large sums out of the country and cash withdrawa...
Democracy Now!
| Mar 25, 2013
Democracy Now takes a look at the stunning Cyprus deal that allows money to be to "snatched" from depositors' bank accounts, in the words of Prof. Richard Wolff. In exchange for a $13 billion Eurozone bailout, all bank deposits above $130,000 will...
Al Jazeera English
| Mar 24, 2013
A last-minute deal on a bailout for Cyprus' crippled banks has been reached, but could cost depositors with more than $130,000 in savings in the nation's staggering Laiki Bank up to 40 percent of their deposits. Laiki is being wound down so that t...
Euronews
| Mar 20, 2013
Cypriot ministers voted down a proposed levy on the island's bank deposits as part of a bailout arrangement, delighting protesters gathered outside, but shaking up the Eurozone."We are a strong example, not only for this country, but for ...
Al Jazeera English
| Mar 17, 2013
Cypriots are furious with government plans to take some of their savings to part-fund a bailout of the country's banks. The EU and IMF are lending 13 billion dollars to Cyprus and insist ordinary Cypriots must contribute to the bailout.
Euronews
| Feb 28, 2013
European Union lawmakers, in a bid to curb the kind of risk-taking that leaves banks needing bailouts, have agreed on a plan to cap bonuses at no more than one year's salary. The banking industry -- and the British government -- are opposed, argui...
Al Jazeera English
| Jan 25, 2013
Iceland President Olafur Ragnar Grimsson tells Al Jazeera's Stephen Cole that Europe should let banks that are ran "irresponsibly" go bankrupt.
Speaking at the annual World Economic Forum in Davos, Grimsson also held his country as a model of eco...
LinkAsia
via
MBC
| Nov 2, 2012
Although South Korea has escaped the worst of the global recession, the country is still feeling the crunch. MBC reports that major banks are rejecting most loan applications, forcing people to take out extremely high interest loans from private l...
— Jun 16, 2012 at 05:00 am
— Sep 13, 2011 at 05:26 pm
...resource. Join now to get round-the-clock business new, market data and stock quotes from Japan, fresh from the newsroom to your desktop! ...
— Jan 11, 2012 at 09:17 am
— Apr 4, 2012 at 11:54 am
...home to the religious holy site known as the Cave of the Patriarch to Jews and the Ibrahimi mosque to Muslims. Relations between Israelis and Pa...
— Sep 18, 2012 at 07:18 pm
...Bank and PA police were being attacked, Abbas left for an official visit – to India. Palestinians are frustrated. They get the feeling – rightly...
A bank is a financial institution and a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly by loaning or indirectly through capital markets. A bank is the connection between customers that have capital deficits and customers with capital surpluses.
Due to their influence within a financial system and the economy, banks are highly regulated in most countries. Most banks operate under a system known as fractional reserve banking where they hold only a small reserve of the funds deposited and lend out the rest for profit. They are generally subject to minimum capital requirements which are based on an international set of capital standards, known as the Basel Accords.
Banking in its modern sense evolved in the 14th century in the rich cities of Renaissance Italy but in many ways was a continuation of ideas and concepts of credit and lending that had its roots in the ancient world. In the history of banking, a number of banking dynasties have played a central role over many centuries.
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