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Initially, the functions of the provincial banks were limited to a certain area or industry, but now it extends to the entire territory of Germany and beyond. The largest of the country banks are Bavarian mortgage and bank promissory notes, as well as the Bavarian combined bank. For commercial or credit, and banks are branches of foreign banks. They serve the commercial and industrial

Savings banks emerged in Germany in the second half of the XVIII century. The first private savings banks were established in Hamburg in 1778, followed by the creation of savings banks began by local authorities. Thus, at the present time almost all savings banks in Germany are state-owned. Feature liabilities savings banks is that they have no equity, equity capital consists of reserves. Strong and solid guarantee

Was also established mandatory (unlimited amount) taking all grade (gold and 5-franc silver) coins issued by any of the member countries of the Union, and a small change in the amount taken no more than 100 francs (of its citizens coins were made without limitation of amount) . In fact, in contrast to the previous period, when many European countries the foundation of the financial system

In fact, this decision was the beginning of the elimination of the Latin Monetary Union. And only because of the complexity of this final settlement process lasted for five years. Union officially ceased to exist December 31, 1926. Scandinavian Monetary Union was signed May 27, 1873 between Sweden and Denmark.

Eighteen months later, an agreement has joined Norway. With the simultaneous introduction of the gold standard in the Nordic countries,

During 2000, the euro / dollar fell even more dramatically, triggering the world's largest securities go into action in the foreign exchange market. At the end of September 2000 the ECB, the U. S. Treasury, the Bank of Japan, Bank of England and several European banks held a joint intervention in support of the single European currency. According to economists, the further depreciation of the euro could hurt the global economy. Actions banks

Serious structural problems in the U. S. economy led to the collapse of the U. S. currency, and eventually 18 February 2004 the euro reached a maximum level of $ 1.2930 in the history of the currency. The appreciation of the euro against the dollar over the past two years was 4200 points. The market has already

A very large proportion of foreign securities proved crucial in London as an international financial center and in the stock market, for example, as a major center of Eurobond issues. In recent years, the London Stock Exchange was the site of significant change in the framework of the 1983 and 1986 reforms, which, in turn, had a significant influence on the reform