Europe is slow to follow

The rest of the world recovers apace from 2001’s travails, but Europe’s

bank of sweden

History

Sveriges Riksbank, or the Riksbank as it is usually called, is the world’s oldest central bank. It was founded in 1668 and was then known as the Bank of the Estates of the Realm, in other words, parliament’s bank. Initially, the Riksbank was more like an ordinary commercial bank than a central bank. It lent money to the general public and did not have a monopoly on issuing banknotes until 1904. Prior to this the banks issued their own banknotes.

The Riksbank began its activities in 1668. Its precursor was the so-called Palmstruch bank, or Stockholm Banco, which was founded in 1656. Although Johan Palmstruch’s bank was private, its governors were chosen by the King and the bank’s activities were regulated in a document whereby the King gave Palmstruch permission to run a bank.

Introduction to the People's Bank of China

Introduction to the People's Bank of China

The People's Bank of China (PBC) was established on December 1, 1948 based on the consolidation of the Huabei Bank, the Beihai Bank and the Xibei Farmer Bank. In September 1983, the State Council decided to have the PBC function as a central bank. The Law of the People's Republic of China on the People's Bank of China adopted on March 18, 1995 by the 3rd Plenum of the 8th National People's Congress has since legally confirmed the PBC's central bank status.
With the improvement of the socialist market economic system, the PBC, as a central bank, will play an even more important role in China's macroeconomic management. The amended Law of the People's Republic of China on the People's Bank of China, adopted by the 6th meeting of the Standing Committee of the 10th National People's Congress on December 27, 2003, provides that the PBC performs the following major functions:
(1) Drafting and enforcing relevant laws, rules and regulations that are related to fulfilling its functions;
(2) Formulating and implementing monetary policy in accordance with law;
(3) Issuing the Renminbi and administering its circulation;
(4) Regulating financial markets, including the inter-bank lending market, the inter-bank bond market, foreign exchange market and gold market;
(5) Preventing and mitigating systemic financial risks to safeguard financial stability;
(6) Maintaining the Renminbi exchange rate at adaptive and equilibrium level; Holding and managing the state foreign exchange and gold reserves;
(7) Managing the State treasury as fiscal agent;
(8) Making payment and settlement rules in collaboration with relevant departments and ensuring normal operation of the payment and settlement systems;
(9) Providing guidance to anti-money laundering work in the financial sector and monitoring money-laundering related suspicious fund movement;
(10) Developing statistics system for the financial industry and responsible for the consolidation of financial statistics as well as the conduct of economic analysis and forecast
(11) Administering credit reporting industry in China and promoting the building up of credit information system;
(12) Participating in international financial activities at the capacity of the central bank;
(13) Engaging in financial business operations in line with relevant rules;
(14) Performing other functions prescribed by the State Council.

Bank of India

The Reserve Bank of India was set up on the basis of the recommendations of the Royal Commission on Indian Currency and Finance also known as the Hilton-Young Commission.

The Reserve Bank of India was set up as a Share Holders' Bank. The Share Issue of the Bank offered in March, 1935 was the largest share issue in India at the time. The matter was further compounded by the conditions and restrictions imposed under the Act. These conditions related to qualifications of the shareholders, the geographical distribution and allotment of shares (to avoid concentration of shares and to ensure that those holding the shares were fit and proper. To simplify matters, Share Certificate Forms of the different registers were printed in different colours. Despite the intricate and gigantic nature of the task, it was carried out with great 'accuracy and dispatch'.

A message sent by the Viceroy to the Governor, Osborne Smith when the Reserve Bank of India commenced its operations on 1st April, 1935

Message

OSBORNE SMITH GOVERNOR RESERVE BANK CALCUTTA. FOLLOWING HAS BEEN RECEIVED FROM SECRETARY FOR YOU. BEGINS, AS RESERVE BANK COMMENCES OPERATIONS TODAY I TAKE OPPORTUNITY TO CONVEY YOU AND YOUR COLLEAGUES ON THE BOARD MY MOST GOOD WISHES AND TO EXPRESS MY CONFIDENCE THAT THIS GREAT UNDERTAKING WILL CONTRIBUTE LARGELY TO THE ECONOMIC WELL BEING OF INDIA AND OF ITS PEOPLE. PRIVATE SECRETARY VICEROY

History and production of money

Different cultures throughout the world have used different means of payment. In the South Seas, seashells were used as money, while Central Americans paid for goods with cocoa beans. Welcome to the diverse world of payment media!

The functions of money - what makes it valuable?

Why do we actually need money?
What characteristics does it have to have in order to fulfil its functions? On this stage, you will learn about the basics of monetary theory and policy.

At an interactive terminal, you can see for yourself how difficult life would be without money - in a goods market in the imaginary country of Nonpekunia.

The World's Top 50 Banks

Current Rank	Previous Rank	BANK	Assets US$m	+ or - (local curr)	Capital US$m	Balance Sheet
1	(1)	Deutsche Bank AG, Frankfurt am Main, Germany
			*841,801	-	1,576.63	31.12.99
2	(2)	BNP Paribas SA, Paris, France
			*700,236	-	1,803.15	31.12.99
3	(4)	The Bank of Tokyo-Mitsubishi Ltd, Tokyo, Japan
			*700,065	-3.25%	7,663.14	31.03.00
4	(3)	UBS AG, Z�rich, Switzerland
			686,634	+5.59%	2,691.95	31.12.99
5	(5)	Bank of America NA, Charlotte, USA
			*571,732	-	2,833.00	31.12.99
6	(10)	The Sumitomo Bank Ltd, Tokyo, Japan
			*524,229	-2.19%	7,340.20	31.03.00
7	(6)	Bayerische Hypo-und Vereinsbank AG, Munich, Germany
			504,415	-	1,267.92	31.12.99
8	(11)	The Norinchukin Bank, Tokyo, Japan
			485,112	+1.32%	10,968.64	31.03.00
9	(7)	The Dai-Ichi Kangyo Bank Limited, Tokyo, Japan
			480,710	-6.15%	8,373.07	31.03.00
Current Rank	Previous Rank	BANK	Assets US$m	+ or - (local curr)	Capital US$m	Balance Sheet
10	(12)	The Sakura Bank Ltd, Tokyo, Japan
			*472,828	-1.06%	10,166.29	31.03.00
11	(8)	ABN AMRO Holding NV, Amsterdam, Netherlands
			*458,940	-	1,661.82	31.12.99
12	(18)	The Fuji Bank Ltd, Tokyo, Japan
			458,338	+2.39%	10,135.46	31.03.00
13	(9)	Cr�dit Agricole, Paris, France
			*440,525	+12.50%	3,896.43	31.12.99
14	(20)	Industrial & Commercial Bank of China, Beijing, China
			427,546	+9.30%	20,220.67	31.12.99
15	(13)	Soci�t� G�n�rale, Paris La D�fense, France
			*407,478	+6.00%	3,793.73	31.12.99
16	(14)	Dresdner Bank AG, Frankfurt am Main, Germany
			*397,761	-	1,357.12	31.12.99
17	(15)	Barclays Bank PLC, London, UK
			*397,668	+16.17%	2,409.35	31.12.99
18	(16)	The Sanwa Bank, Limited, Tokyo, Japan
			396,308	-9.71%	13,113.46	31.03.99
Current Rank	Previous Rank	BANK	Assets US$m	+ or - (local curr)	Capital US$m	Balance Sheet
19	(17)	Westdeutsche Landesbank Girozentrale, D�sseldorf, Germany
			*394,662	-	1,186.53	31.12.99
20	(19)	Commerzbank AG, Frankfurt am Main, Germany
			*372,898	-	1,338.08	31.12.99
21	(21)	The Industrial Bank of Japan Ltd, Tokyo, Japan
			370,990	-9.60%	6,567.59	31.03.00
22	(22)	ING Bank NV, Amsterdam, Netherlands
			*350,424	-	-	31.12.99
23	(-)	Fortis Bank NV/SA, Brussels, Belgium
			*341,251	-	2,932.14	31.12.99
24	(23)	The Chase Manhattan Bank, New York City, USA
			*332,198	+11.96%	1,211.00	31.12.99
25	(24)	Citibank NA, New York City, USA
			*327,899	+8.97%	751.00	31.12.99
26	(27)	Bank of China, Beijing, China
			316,214	+5.76%	12,621.54	31.12.99
27	(25)	Banca Intesa SpA, Milan, Italy
			*304,664	-	2,798.39	31.12.99
Current Rank	Previous Rank	BANK	Assets US$m	+ or - (local curr)	Capital US$m	Balance Sheet
28	(26)	National Westminster Bank Plc, London, UK
			*299,313	-0.14%	-	31.12.99
29	(35)	The Tokai Bank Limited, Nagoya, Japan
			*297,858	+0.61%	7,050.53	31.03.00
30	(28)	Credit Suisse First Boston, Z�rich, Switzerland
			*293,922	-10.86%	2,373.50	31.12.98
31	(29)	Abbey National plc, London, UK
			*291,288	+11.05%	752.62	31.12.99
32	(31)	Lloyds TSB Bank plc, London, UK
			*283,789	+4.82%	2,238.52	31.12.99
33	(30)	Bayerische Landesbank Girozentrale, Munich, Germany
			*281,877	-	3,346.76	31.12.99
34	(32)	Rabobank Nederland, Utrecht, Netherlands
			*281,866	-	-	31.12.99
35	(-)	The Agricultural Bank of China, Beijing, China
			*274,876	+12.53%	15,944.32	31.12.99
36	(39)	The Asahi Bank Ltd, Tokyo, Japan
			273,999	-0.43%	3,914.06	31.03.00
Current Rank	Previous Rank	BANK	Assets US$m	+ or - (local curr)	Capital US$m	Balance Sheet
37	(-)	China Construction Bank, Beijing, China
			265,845	+14.42%	10,280.69	31.12.99
38	(43)	Halifax plc, Halifax, UK
			261,205	+29.65%	723.61	31.12.99
39	(33)	Landesbank Baden-W�rttemberg, Stuttgart, Germany
			*257,632	-	2,207.14	31.12.99
40	(34)	Banco Santander Central Hispano, Madrid, Spain
			*257,041	-	1,838.21	31.12.99
41	(37)	DG BANK Deutsche Genossenschaftsbank AG, Frankfurt am Main, Germany
			*243,778	-	1,472.39	31.12.99
42	(38)	Banco Bilbao Vizcaya Argentaria, Madrid, Spain
			*238,726	-	-	31.12.99
43	(41)	First Union National Bank, Charlotte, USA
			*229,272	+3.05%	616.00	31.12.99
44	(42)	The Hongkong and Shanghai Banking Corporation Limited, Hong Kong, Hong Kong
			*210,702	+10.58%	2,091.46	31.12.99
45	(55)	The Zenshinren Bank, Tokyo, Japan
			209,996	+12.21%	2,437.46	31.03.00
Current Rank	Previous Rank	BANK	Assets US$m	+ or - (local curr)	Capital US$m	Balance Sheet
46	(44)	International Bank for Reconstruction and Development, Washington, USA
			204,971	+26.57%	11,288.00	30.06.98
47	(46)	Kreditanstalt f�r Wiederaufbau (KFW), Frankfurt am Main, Germany
			197,096	-	512.47	31.12.99
48	(47)	Bankgesellschaft Berlin AG, Berlin, Germany
			*194,233	-	558.79	31.12.99
49	(48)	Royal Bank of Canada, Montr�al, Canada
			*184,003	-1.37%	3,449.59	31.10.99
50	(49)	Caisse des D�p�ts et Consignations, Paris, France
			*177,511	-	-	31.12.99

HSBC

ABOUT HSBC

2007

2007 was a year of challenges for HSBC.

The weakness in the American property market affected its US subsidiary, HSBC Finance Corporation, and in February the bank issued a trading statement to warn investors about the impact of bad debts. Many other banks follow suit and by the end of the year HSBC is winning plaudits for its early announcement and prudent handling of the situation. In a strategic review of its consumer and mortgage lending businesses, the bank announces the closure of Decision One, its sub-prime mortgage loans wholesale channel.

Elsewhere, HSBC continues to expand its business in key markets and through key products. In April, the bank officially incorporates in China and the chairman announces the intention to 'significantly invest in and develop our business in the country.' By the end of the year HSBC is operating from 53 outlets in the country – up from 39 – and is the first foreign bank to receive permission to open a branch in rural China. September sees the official launch of HSBC Premier – the world's first truly global banking service – which is soon dubbed 'The world's local bank account.'

HSBC continues its long-standing engagement with the environmental agenda when it launches the HSBC Climate Partnership in May. This five-year, US$100m project aims to tackle the causes and impact of climate change. The bank also appoints Nicholas Stern to the post of special advisor on Economic Development and Climate Change. The bank's principles are put into practice to good effect in its new HQ in Mexico which wins Gold awards for its environmental design, construction and operation. This is just one of many awards that HSBC receives throughout the year - others include Asia's top retail bank and the Best International Islamic Bank.

Both looking back, and looking forward, HSBC announces during the year that it has commissioned a new history of the bank to be published in 2015 to coincide with the bank's 150th birthday.

Beacuse of willing only to entroduce with HSBC I will make the history shorter.

1900-1945

In the early years of the twentieth century, HSBC widened the scope of its activities in the East. It became increasingly involved in the issuing of loans to national governments, especially in China, to finance modernisation and internal infrastructure projects such as railway building. The First World War brought disruption and dislocation to many businesses but the 1920s saw a return to prosperity in the East as new industries were developed and trade in commodities such as rubber and tin soared. The bank’s new head office in Hong Kong (1935) and the new buildings at major branches such as Bangkok (1921), Manila (1922) and Shanghai (1923) reflected this confidence. In contrast the political outlook in China grew increasingly uncertain. Throughout the 1930s, in keeping with its long-standing connections with government finance in China, the bank took a leading part in efforts to stabilise the Chinese national currency.

In the Second World War, the majority of the bank’s staff in the East became prisoners of war as the Japanese advanced through Asia. The chief manager, Sir Vandeleur Grayburn and his designated successor died while prisoners in Hong Kong. The bank survived under the guidance of its London Advisory Committee who were empowered to act as a Board of Directors in 1943, and under the leadership of Arthur Morse who became Chairman and Chief Manager of the bank at the same time. With most of the branch network shut down the bank adjusted to wartime conditions whilst always making plans to return to its home.