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2008 United Kingdom bank rescue package
During the period 2007–2009, the UK government intervened financially to support the UK banking sector, and four UK banks in particular.
BankingAaron of Lincoln
Aaron of Lincoln (c. 1123 – 1186) was an English Jewish financier. He is believed to have been the wealthiest man in Norman England; it is estimated that his wealth exceeded that of the King.
BankingAdvance (trade union)
Advance is a certified, independent trade union affiliated to the TUC representing workers within the bank Santander UK, the UK subsidiary of Santander Group. The union was formerly known as the Abbey National Group Union (ANGU) before it expanded to include staff of Alliance & Leicester and Bradford & Bingley following their acquisitions by Santander. Its aims are the supporting and rep
BankingAmbulance (2022 film)
Ambulance is a 2022 American action thriller film directed by Michael Bay. It is a remake of the 2005 Danish film. It stars Jake Gyllenhaal and Yahya Abdul-Mateen II as adoptive brothers who hijack an ambulance after robbing a bank and take a paramedic (Eiza González) and an injured police officer (Jackson White) hostage.
BankingAndrea Orcel
Andrea Orcel (Italian: [anˈdrɛːa orˈtʃɛl]; born May 14, 1963) is an Italian investment banker who is CEO of UniCredit. He was the president of UBS Investment Bank from November 2014 to September 2018. He was poised to take on the role of Chief Executive of Banco Santander from September 2018 to January 2019; however, the job offer was withdrawn which resulted in him taking legal action
Trading basicsAPTIS
APTIS was the Accountancy and Passenger Ticket Issuing System used on the British Rail/National Rail network until 2007. It was originally called "Advanced Passenger Ticket Issuing System" as it was being developed at the time of the Advanced Passenger Train.
FinanceBanco Santander
Banco Santander S.A., trading as Santander Group (UK: SAN-tən-DAIR, -tan-, US: SAHN-tahn-DAIR, Spanish: [ˈbaŋko santanˈdeɾ]), is a Spanish multinational financial services company based in Santander. It is Europe's 4th largest bank by assets, with $2.251 trillion in assets and the 16th-largest banking institution in the world. Although known for its European banking operations, it has
BankingBanking in Manchester
Manchester's first bank was the Manchester Bank of Byrom, Allen, Sedgwick and Place on Bank Street in 1771. Over the next century many new banks were founded. They built impressive buildings in the city. The Co-operative Bank was formed in 1872 as the Loan and Deposit Department of Manchester's Co-operative Wholesale Society, becoming the CWS Bank four years later. However, the bank did
Trading basicsBradford & Bingley
Bradford & Bingley plc was a British bank with headquarters in the West Yorkshire town of Bingley.
Trading basicsBuilding society
A building society is a financial institution owned by its members as a mutual organization, which offers banking and related financial services, especially savings and mortgage lending. They exist in the United Kingdom, Australia and New Zealand, and formerly in Ireland and several Commonwealth countries, including South Africa as mutual banks. They are similar to credit unions, but rat
Trading basicsDemutualization
Demutualization is the process by which a customer-owned mutual organization (mutual) or co-operative changes legal form to a joint stock company. It is sometimes called stocking or privatization. As part of the demutualization process, members of a mutual usually receive a "windfall" payout, in the form of shares in the successor company, a cash payment, or a mixture of both. Mutualizat
FinanceEuropean banking union
The European banking union refers to the transfer of responsibility for banking policy from the member state-level to the union-wide level in several EU member states, initiated in 2012 as a response to the 2009 eurozone crisis. The motivation for the banking union was the fragility of numerous banks in the eurozone, and the identification of a vicious circle between credit conditions fo
Fiat currenciesEwiger Pfennig
The Ewiger Pfennig or eternal penny (Latin: denarius perpetuus) was a coin of the regional pfennig period (bracteate period), which was minted until the late medieval groschen time. These coins are mostly of the Hohlpfennig or "hollow pfennig" type which, unlike bracteates, had to be exchanged regularly for a fee but were not subject to annual recall of coins in circulation, the Münzverr
Payments & settlementFaster Payment System (United Kingdom)
The Faster Payment System (FPS) is a United Kingdom real-time gross settlement system which facilitates transfers between different banks' customer accounts within a few seconds. The system offers faster settlement times than the long-established BACS and CHAPS systems. FPS processes a large volume of small payments, subject to limits set by the individual banks, with some allowing Faste
BankingFugger family
The House of Fugger (German pronunciation: [ˈfʊɡɐ]) is a German family that was historically a prominent group of European bankers, members of the fifteenth- and sixteenth-century mercantile patriciate of Augsburg, international mercantile bankers, and venture capitalists. Alongside the Welser family, the Fugger family controlled much of the European economy in the sixteenth century and
Trading basicsHistory of private equity and venture capital
The history of private equity, venture capital, and the development of these asset classes has occurred through a series of boom-and-bust cycles since the middle of the 20th century. Within the broader private equity industry, two distinct sub-industries, leveraged buyouts and venture capital experienced growth along parallel, although interrelated tracks.
Trading basicsIn commendam
In canon law, commenda (or in commendam) was a form of transferring an ecclesiastical benefice in trust to the custody of a patron. The phrase in commendam was originally applied to the provisional occupation of an ecclesiastical benefice, which was temporarily without an actual occupant, in contrast to the conferral of a title, in titulum, which was applied to the regular and unconditi
FinanceInternational Financial Services Centre, Dublin
The International Financial Services Centre (IFSC; Irish: Lárionad Seirbhísí Airgeadais Idirnáisiúnta) is an area of central Dublin and part of the CBD established in the 1980s as an urban regeneration area and special economic zone (SEZ) on the derelict state-owned former port authority lands of the reclaimed North Wall and George's Dock areas of the Dublin Docklands. The term has beco
BankingLicoricia of Winchester
Licoricia of Winchester (early 13th century – 1277) was an English Jewish businesswoman.
Securities & exchangesMelvin Van Peebles
Melvin Van Peebles (born Melvin Peebles; August 21, 1932 – September 21, 2021) was an American actor, filmmaker, writer, and composer. His feature film debut, The Story of a Three-Day Pass (1967), was based on his own French-language novel La Permission and was shot in France, as it was difficult for a black American director to get work at the time. The film won an award at the San Fran
FinanceMense
A mense (from Latin mensa 'table') is the name of a form of ecclesiastical income in the Catholic Church. Historically, the mense was a land tax that was used as income for its holder (i.e. bishop, abbot, canons or monks, pastor, etc.). In an abbey this support was called the In commendam and was divided into three lots, one for the commendatory abbot, one for the religious community a
BankingNorthern Rock
Northern Rock, formerly the Northern Rock Building Society, was a British bank. Based at Regent Centre in Newcastle upon Tyne, United Kingdom, Northern Rock was originally a building society. It demutualised and became Northern Rock bank in 1997, when it floated on the London Stock Exchange with the ticker symbol NRK.
BankingOffice of Fair Trading v Abbey National plc
Office of Fair Trading v Abbey National plc and Others [2009] UKSC 6 is a judicial decision of the United Kingdom Supreme Court relating to bank charges in the United Kingdom, with reference to the situation where a bank account holder goes into unplanned overdraft.
FinancePeter's Pence
Peter's Pence (or Denarii Sancti Petri and "Alms of St Peter") are donations or payments made directly to the Holy See of the Catholic Church. The practice began under the Saxons in England and spread through Europe. Both before and after the Norman Conquest the practice varied by time and place: initially, it was given as a pious contribution, whereas later it was required by various ru
BankingPrivate equity in the 2000s
Private equity in the 2000s represents one of the major growth periods in the history of private equity and venture capital. Within the broader private equity industry, two distinct sub-industries, leveraged buyouts and venture capital, expanded along parallel and interrelated tracks.
Trading basicsPrivate-equity secondary market
In finance, the Private Equity Secondary Market (also often called Private Equity Secondaries or Secondaries) refers to the buying and selling of pre-existing investor commitments to private equity and other alternative investment funds or the underlying private equity assets (e.g., credit secondaries). Unlike public markets, private-equity interests lack an established trading exchange,
Trading basicsRothschild loans to the Holy See
Rothschild loans to the Holy See refers to a series of major financial loans arranged between the Rothschild family and the Holy See of the Catholic Church. The first loan, which occurred in 1832, took place in the aftermath of the Napoleonic Wars during the pontificate of Pope Gregory XVI (involving James Mayer de Rothschild and Carl Mayer von Rothschild). This loan agreed on was for a
FinanceSecretariat for the Economy
The Secretariat for the Economy (Italian: Segreteria per l'economia) is a department of the Roman Curia with authority over all economic activities of the Holy See and the Vatican City State.
BankingSort code
Sort codes are the domestic bank codes used to route money transfers between financial institutions in the United Kingdom, and formerly in Ireland. They are six-digit hierarchical numerical addresses that specify clearing banks, clearing systems, regions, large financial institutions, groups of financial institutions and ultimately resolve to individual branches. In the UK they continue
Trading basicsTo rob Peter to pay Paul
"To rob Peter to pay Paul", and similar variants that have developed over the centuries such as "to borrow from Peter to pay Paul", and "to unclothe Peter to clothe Paul", are English idioms meaning to take from one person to give to another, especially when it results in the elimination of one debt by incurring another. Similar phrases are found in many languages. "Manoeuvring the Apost
Trading basicsTravelex
Travelex International Limited is a foreign exchange company founded by Lloyd Dorfman and headquartered in Peterborough, United Kingdom. Its main businesses are foreign currency exchange, issuing prepaid credit cards for use by travellers, supplying central banks with foreign currency and global remittance. Travelex operates more than 600 stores and 700 ATMs in over 20 countries.