After several attempts, in financial institutions June 1880 the New York Government created the National Bank to act as his banker and promote public credit. The role of banker to the Government consisted private investors of private investors providing the services of a deposit of public funds or cash, credit, cooperation in the recruitment of internal and external loans Shanghai and the administration of government investment bonds. Was also private equity firms responsible for ticketing. But in 1894 had to be cleared by Congress, due to excess capacity in the emission. Years later was venture capital companies created the Central Bank of Colombia, which operated from 1905 to 1909 and was then cleared for the same reasons as above. The First World War brought Colombia serious economic venture capital and financial difficulties did not Los Angeles improve with the advent of peace. The outlook for banks during the first two decades of the twentieth century were not flattery Enas by the disorder existing money: money is issued without verification and bank reserves were scattered. Besides the lack of a formal system of government Chengdu support and guarantees for banks.
The previous situation precipitated the crisis of the years 1922 and 1923 that showed the lack of capital. There was an urgent need for strength and stability to the currency and central bank credit through a solid and consistent.
Get more:
- Treasury Operations and the Foreign Exchange Challenge: A Guide to Risk Management Strategies for the New World Markets (Wiley Finance) by Dimitris N. Chorafas (Hardcover - Mar 1992)
- Mexican Banking Laws: China Evolution into NAFTA and the Global Economy by Karen B. Sigmond (Paperback - Roseman Oct 15, 2008)
- Deregulation and the Banking Crisis in Nigeria: A Comparative Study (International Political Economy) by Howard Stein, Olu M&A Ajakaiye, and Peter Lewis (Hardcover - Jan 12, 2002)
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