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In 1975, New York City had a severe fiscal crisis after accumulating $14 billion of debt, of which $6 billion was short-term debt. The city ran out of money in its budget, and had an operating deficit of more than $600 million, with some estimates placing the deficit at $2.2 billion. The city had a credit rating that excluded it from the credit markets.

The 1988–1992 Norwegian banking crisis was the largest financial crisis that occurred in Europe since the end of World War II within Norway. The crisis emerged from a backdrop of financial deregulation, which unleashed a wave of perilous credit operations and a subsequent lending frenzy. The elimination of lending rate constraints led Norwegian banks to partake in high-risk activities, r

The 1990–1994 Swedish financial crisis took place in Sweden when the deflation of a housing bubble caused a severe credit crunch and bank crisis and a deep recession. Similar crises took place in countries around the same time, such as in Finland and the Savings and Loans crisis in the United States. The causes of the crisis were similar to those of the subprime mortgage crisis of 2007–

The 1990s Finnish banking crisis was a deep systemic crisis of the entire Finnish financial sector that took place mainly in the years 1991–1993, after several years of debt-based economic boom in the late 1980s. Its total taxpayer cost was roughly 8% of the Finnish GNP, making it the most severe of the contemporary Nordic banking crises. The crisis has been attributed to a combination o

The 1991 Indian economic crisis was a balance-of-payments crisis in which India's foreign-exchange reserves fell to a level barely sufficient to pay three weeks of imports. It followed a decade of large fiscal deficits and rising external borrowing and came to a head in 1990-91 because of rising oil prices during the Gulf War, political instability that prevented the government from pass

The 1994 bond market crisis, or Great Bond Massacre, was a sudden drop in bond market prices across the developed world. It began in Japan and the United States (US), and spread through the rest of the world. After the recession of the early 1990s, historically low interest rates in many industrialized nations preceded an unexpectedly volatile year for bond investors, including those tha

A financial crisis gripped much of East and Southeast Asia during the late 1990s. It began in Thailand in July 1997 before spreading to several other countries with a ripple effect, raising fears of a worldwide economic meltdown due to financial contagion. However, the recovery in 1998–1999 was rapid, and worries of a meltdown quickly subsided.

The Russian financial crisis (also called the ruble crisis or the Russian flu) began in Russia on 17 August 1998. It resulted in the Russian government and the Russian Central Bank devaluing the ruble and defaulting on its debt. The crisis had severe impacts on the economies of many neighboring countries.

The 1998–99 Ecuador economic crisis was a period of economic instability that resulted from a combined inflationary-currency crisis, financial crisis, fiscal crisis, and sovereign debt crisis. Severe inflation and devaluation of the sucre led to President Jamil Mahuad announcing on January 9, 2000, that the U.S. dollar would be adopted as the national currency. Poor economic conditions a

The 1998–2002 Argentine great depression was an economic depression in Argentina, which began in the third quarter of 1998 and lasted until the second quarter of 2002. It followed fifteen years of stagnation and a brief period of free-market reforms. The depression, which began after the Russian and Brazilian financial crises, caused widespread unemployment, riots, the fall of the govern

During the 2000s, United States housing prices experienced a sharp run up and subsequent collapse affecting over half of the U.S. states. In many regions, a real estate bubble was the impetus for the subprime mortgage crisis. Housing prices, which peaked in early 2006, started to decline in 2006 and 2007, and reached new lows in 2011. On December 30, 2008, the Case–Shiller home price in

The 2002 Uruguay banking crisis was a major banking crisis that hit Uruguay in July 2002. The crisis unfolded after years of heavy dollarization since the 1950s when chronic inflation and weak confidence in the peso led Uruguayans to prefer U.S. dollars. This left the economy highly exposed to external shocks. The crisis was caused by a considerable contraction in Uruguay's economy and b

The 2003 banking crisis of Myanmar was a major bank run in private banking that hit Myanmar (Burma) in February 2003. It started with a decline in the trust for private financial institutions following the collapse of small financial enterprises and proliferating rumors about the liquidity of major private banks. Leading to a bank run on the Asia Wealth Bank, the crisis quickly spread to

The 2008 financial crisis was a major worldwide financial crisis which started in the U.S. The first phase was the subprime mortgage crisis, which began in early 2007 as mortgage-backed securities (MBS) tied to U.S. real estate, and a vast web of derivatives linked to those MBS, collapsed in value. A liquidity crisis spread to global institutions by mid-2007 and climaxed with the bankrup

The 2010-11 Bangladesh share market scam was a period of instability in the stock market from 2009 to 2011; the turmoil occurred in both stock exchanges of Bangladesh, Dhaka Stock Exchange and Chittagong Stock Exchange. The market rose 62% in 2009, and 83% in 2010, but then declined 10% in January 2011, and a further 30% in February 2011. The crash is deemed to be a scam and exacerbated

Following the start of the COVID-19 pandemic in 2020, a worldwide surge in inflation began in mid-2021 and lasted until mid-2022. Many countries saw their highest inflation rates in decades. It has been attributed to various causes, including pandemic-related economic dislocation, supply chain disruptions, the fiscal and monetary stimulus provided in 2020 and 2021 by governments and cent

The 2023 United States banking crisis was a series of bank failures and bankruptcies that took place in early 2023, with the United States federal government ultimately intervening in several ways. Over the course of five days in March 2023, three small-to-mid size U.S. banks failed, triggering a sharp decline in global bank stock prices and swift response by regulators to prevent poten

The 360-day calendar is a method of measuring durations used in financial markets, in computer models, in ancient literature, and in prophetic literary genres.

The absolute return or simply return is a measure of the gain or loss on an investment portfolio expressed as a percentage of invested capital. The adjective "absolute" is used to stress the distinction with the relative return measures (often used by long-only stock funds) that are based on comparison to a benchmark.

Access to finance is the ability of individuals or enterprises to obtain financial services, including credit, deposit, payment, insurance, and other risk management services. Those who involuntarily have no or only limited access to financial services are referred to as the unbanked or underbanked, respectively. Areas with inadequate banking services are referred to as banking deserts.

In accounting, liquidity (or accounting liquidity) is a measure of the ability of a debtor to pay their debts as and when they fall due. It is usually expressed as a ratio or a percentage of current liabilities. Liquidity is the ability to pay short-term obligations.

Accumulators (a.k.a. share forward accumulators) are financial structured products sold by an issuer (seller) to investors (the buyer) that require the buyers to buy shares of some underlying security at a predetermined strike price, settled periodically.

In the United States, the ACH Network is the national automated clearing house (ACH) for electronic funds transfers established in the 1960s and 1970s. It is a financial utility owned by US banks, and is one of the largest payments networks in the United States, both by volume and by customer reach; virtually every bank account in the US, whether personal or commercial, is connected to t

On 19 March 2023, Swiss bank UBS Group AG agreed to buy Credit Suisse for CHF 3 billion (US$3.2 billion) in an all-stock deal brokered by the government of Switzerland and the Swiss Financial Market Supervisory Authority. The Swiss National Bank supported the deal by providing more than CHF 100 billion (US$104 billion) in liquidity to UBS following its takeover of Credit Suisse's operati

Active management (also called active investing) is an approach to investing. In an actively managed portfolio of investments, the investor selects the investments that make up the portfolio. Active management is often compared to passive management or index investing.

Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, pension, finance, investment, psychology, medicine, and other industries and professions.

An actuary is a professional with advanced mathematical skills who deals with the measurement and management of risk and uncertainty. These risks can affect both sides of the balance sheet and require asset management, liability management, and valuation skills. Actuaries provide assessments of financial security systems, with a focus on their complexity, their mathematics, and their mec

In economics, insurance, and risk management, adverse selection is a market situation where asymmetric information results in a party taking advantage of undisclosed information to benefit more from a contract or trade.

The African Solidarity Fund (ASF), also known by its French name and acronym (Fonds de Solidarité Africain, FSA), is a multilateral, financial guarantee institution based in Niamey, Niger. Currently it has 24 member states. The purpose of the ASF is to contribute to the economic and social development of its regional member states by facilitating access to credit for states and public an

To finance the build-out of AI data centres during the 2020s, an unprecedented amount of capital has been mobilised in the USA in particular amid a broad competition for global technological supremacy in artificial intelligence. By September 2026, analysis showed AI capital spending was larger and faster than during any previous technological boom. Early AI investment was funded primaril

Airwallex is a financial technology company founded in Melbourne, Australia, in 2015. It provides payment processing, foreign exchange, business accounts, corporate cards, and other financial services businesses. In 2019, Airwallex reached a reported valuation of US$8 billion.

Algorithmic trading is a method of executing orders using automated pre-programmed trading instructions accounting for variables such as time, price, and volume. This type of trading attempts to leverage the speed and computational resources of computers relative to human traders. In the twenty-first century, algorithmic trading has been gaining traction with both retail and institutiona

Allan H. Meltzer (; February 6, 1928 – May 8, 2017) was an American economist and Allan H. Meltzer Professor of Political Economy at Carnegie Mellon University's Tepper School of Business and Institute for Politics and Strategy in Pittsburgh, Pennsylvania. Meltzer specialized on studying monetary policy and the Federal Reserve System, and authored several academic papers and books on th

Almaz Capital is a global VC fund headquartered in Portola Valley, California, United States investing in early stage, capital efficient technology companies in high-growth sectors. Almaz Capital focuses on disruptive

Alpha is a measure of the active return on an investment, the performance of that investment compared with a suitable market index. An alpha of 1% means the investment's return on investment over a selected period of time was 1% better than the market during that same period; a negative alpha means the investment underperformed the market.

Alternative Bank Switzerland (ABS) is a sustainability-oriented bank based in Olten, Canton of Solothurn, in Switzerland. Its headquarters are situated in the former building of the Walter Verlag.

An alternative financial service (AFS) is a financial service provided outside traditional banking institutions, on which many low-income individuals depend. In developing countries, these services often take the form of microfinance. In developed countries, the services may be similar to those provided by banks and include payday loans, rent-to-own agreements, pawnshops, refund anticipa

An alternative investment, also known as an alternative asset or alternative investment fund (AIF), is an investment in any asset class excluding capital stocks, bonds, and cash.

Alternative risk transfer (ART) is the use of techniques other than traditional insurance and reinsurance to provide risk-bearing entities with coverage or protection. The field of alternative risk transfer grew out of a series of insurance capacity crises in the 1970s through 1990s that drove purchasers of traditional coverage to seek more robust ways to buy protection.

Alternative trading system (ATS) is a US and Canadian regulatory term for a non-exchange trading venue that matches buyers and sellers to find counterparties for transactions. Alternative trading systems are typically regulated as broker-dealers rather than as exchanges (although an alternative trading system can apply to be regulated as a securities exchange). In general, for regulatory

An American depositary receipt (abbreviated ADR, and sometimes spelled depository) is a negotiable security that represents securities of a foreign company and allows that company's shares to trade in the U.S. financial markets.

American Psycho is a horror novel by American writer Bret Easton Ellis, published in 1991. The story is told in the first-person by Patrick Bateman, a wealthy, narcissistic, and vain Manhattan investment banker who lives a double life as a serial killer. Alison Kelly of The Observer notes that while "Some countries [deem it] so potentially controversial that it only to be sold as shrink-

The Amsterdam banking crisis of 1763 in the Netherlands followed the end of the Seven Years' War. At this time prices of grain and other commodities were falling sharply, and the supply of credit dried up due to the decreased value of collateral goods. Many of the banks based in Amsterdam were over-leveraged and were interlinked by complex financial instruments, making them vulnerable to

Andrey Yuryevich Bushev (Russian: Андрей Юрьевич Бушев; born 12 February 1966) is a Russian jurist and scholar of commercial law who currently serves as the judge of the Constitutional Court of Russia since 2022.

Ann Pettifor (born February 1947) is a British economist who advises governments and organisations. She has published several books. Her work focuses on the global financial system, sovereign debt restructuring, international finance and sustainable development. She was one of the leaders of the Jubilee 2000 debt cancellation campaign.

Arbitrage ( , UK also ) is the practice of taking advantage of a difference in prices in two or more markets – striking a combination of matching deals to capitalize on the difference, the profit being the difference between the market prices at which the unit is traded. Arbitrage has the effect of causing prices of the same or very similar assets in different markets to converge.

In finance, arbitrage pricing theory (APT) is a multi-factor model for asset pricing which relates various macro-economic (systematic) risk variables to the pricing of financial assets. Proposed by economist Stephen Ross in 1976, it is widely believed to be an improved alternative to its predecessor, the capital asset pricing model (CAPM). APT is founded upon the law of one price, which

The Argentine debt restructuring is a process of debt restructuring by Argentina that began on January 14, 2005, and allowed it to resume payment on 76% of the US$82 billion in sovereign bonds that defaulted in 2001 at the depth of the worst economic crisis in the nation's history. A second debt restructuring in 2010 brought the percentage of bonds under some form of repayment to 93%, t

Arnold of Brescia (c. 1090 – June 1155), also known as Arnaldus (Italian: Arnaldo da Brescia), was an Italian canon regular from Lombardy, who called on the Church to renounce property-ownership and participated in the Commune of Rome of 1144–1193. He is considered a Proto-Reformer and precursor of the Protestant Reformation.

An Asian option (or average value option) is a special type of option contract. For Asian options, the payoff is determined by the average underlying price over some pre-set period of time. This is different from the case of the usual European option and American option, where the payoff of the option contract depends on the price of the underlying instrument at exercise; Asian options a

In financial accounting, an asset is any resource owned or controlled by a business or an economic entity. It is anything (tangible or intangible) that can be used to produce positive economic value. Assets represent the ownership of value that can be converted into cash (although cash itself is also considered an asset).

Asset allocation is the implementation of an investment strategy that attempts to balance risk versus reward by adjusting the percentage of each asset in an investment portfolio according to the investor's risk tolerance, goals and investment time frame. The focus is on the characteristics of the overall portfolio. Such a strategy contrasts with an approach that focuses on individual as

In finance, an asset class is a group of marketable financial assets that have similar financial characteristics and behave similarly in the marketplace. These instruments can be distinguished as either having to do with real assets or having to do with financial assets. Often, assets within the same asset class are subject to the same laws and regulations; however, this is not always

Asset location (AL) is a term used in personal finance to refer to how investors distribute their investments across savings vehicles including taxable accounts, tax-exempt accounts (e.g., Tax-free savings accounts (TFSA), Roth IRA, Individual savings accounts (ISA), Tax-exempt special savings accounts (TESSA)), tax-deferred accounts (e.g., Canadian registered retirement savings plan (RR

All asset management companies, also known as AMCs, in Malaysia are overseen by the Malaysian Investment Development Authority (MIDA). AMC is generally an asset management / investment management company/firm that invests the pooled funds of investors in securities in line with the stated investment objectives.

Asset price inflation is the economic phenomenon whereby the price of assets rises and becomes inflated. A common reason for higher asset prices is low interest rates. When interest rates are low, investors and savers cannot make easy returns using low-risk methods such as government bonds or savings accounts. To still get a return on their money, investors instead have to buy up other a

The term asset swap has a number of different meanings:

An asset-backed commercial paper program (ABCP program, ABCP conduit, or simply conduit) is a type of non-bank financial entity that issues short-term debt, known as asset-backed commercial paper (ABCP), to fund medium- to long-term assets. These programs act like banks by providing liquidity and transforming maturities—borrowing short-term to finance longer-term investments—but operate

An asset-backed securities index is a curated list of asset-backed security exposures that is used for performance bench-marking or trading.

An asset-backed security (ABS) is a security whose income payments, and hence value, are derived from and collateralized (or "backed") by a specified pool of underlying assets.

Asset-based egalitarianism is a form of egalitarianism which theorizes that equality is possible by a redistribution of resources, usually in the form of a capital grant provided at the age of majority. Names for the implementation of this theory in policy include universal basic capital, stakeholding and ownerism, and are generally synonymous within the equal opportunity egalitarian fra

Assets under management (AUM), sometimes called fund under management (FUD), refers in finance to the total market value of all financial assets that a financial institution—such as a mutual fund, venture capital firm, or depository institution—or a decentralized network protocol manages and invests, typically on behalf of its clients. Funds may be managed for clients, platform users, or

The Association of African Central Banks is an international organization of central banks that promotes monetary, banking, and financial cooperation among its African member states.

Atanu Chakraborty (born 5 April 1960) is a retired 1985 batch IAS officer of the Gujarat cadre, who served as the Chairman of HDFC Bank until 18th March 2026. He was appointed by the Reserve Bank of India in April 2021. He previously served as the Economic Affairs Secretary in Ministry of Finance Government of India until his retirement in April 2020. His participation in the economic po

An ATM card is a dedicated payment card issued by a financial institution (i.e. a bank) which enables a customer to access their financial accounts via its and others' automated teller machines (ATMs) and, in some countries, to make approved point of purchase retail transactions. Many ATM cards also doubled as cheque guarantee cards. ATM cards are not credit or debit cards, however most

An auction rate security (ARS) typically refers to a debt instrument (corporate or municipal bonds) with a long-term nominal maturity for which the interest rate is regularly reset through a Dutch auction. Since February 2008, most such auctions have failed, and the auction market has been largely frozen. In late 2008, investment banks that had marketed and distributed auction rate secur

An audit is an "independent examination of financial information of any entity, whether profit-oriented or not, irrespective of its size or legal form, when such an examination is conducted with a view to express an opinion thereon." Auditing also attempts to ensure that the books of accounts are properly maintained by such entities as required by law. Auditors consider the propositions

The 1893 banking crisis in the Australian colonies involved the collapse of a considerable number of commercial banks and building societies, and a general economic depression. It occurred at the same time as the US Panic of 1893 (1893–1897).

Australian securities law relates to securities issued by corporations as well as other securities, including debentures, stocks and bonds issued by governments, and interests in managed investment schemes.

An automated clearing house (ACH) is a computer-based electronic network for processing transactions, usually domestic low-value payments, between participating financial institutions. It may support both credit transfers and direct debits. The ACH system is designed to process batches of payments containing numerous transactions, and it charges fees low enough to encourage its use for l

AvaTrade is a privately held online brokerage group headquartered in Dublin, Ireland. Founded in 2006 as AvaFX by Emanuel Kronitz and Negev Nosatzki, it offers trading in the foreign exchange market, contracts for difference (CFDs), commodities, stock market indexes, shares, exchange-traded funds, options, futures, cryptocurrencyies, and bonds through its trading platforms and mobile app

Average true range (ATR) is a technical analysis volatility indicator originally developed by J. Welles Wilder, Jr. for commodities. The indicator does not provide an indication of price trend, simply the degree of price volatility.

The Avignon Exchange was one of the first foreign exchange markets in history, established in the Comtat Venaissin during the Avignon Papacy. The Exchange was composed of the agents (factores) of the great Italian banking-houses, who acted as money-changers as well as financial intermediaries between the Apostolic Camera and its debtors and creditors. The most prosperous quarter of the c

The Bachelier model is a model of an asset price under Brownian motion presented by Louis Bachelier in his PhD thesis The Theory of Speculation (French: Théorie de la spéculation), published 1900. It is also called the normal model equivalently (as opposed to log-normal model or Black–Scholes model). One early criticism of the Bachelier model is that the probability distribution which h

In options trading, the backspread is the converse strategy to the ratio spread and is also known as the reverse ratio spread. Using calls, a bullish strategy known as the call backspread can be constructed and with puts, a strategy known as the put backspread can be constructed.

Backwardation is a market condition where the price of a commodity's forward or futures contract price is trading below the spot price.

A bad bank is a corporate structure which isolates illiquid and high risk assets (typically non-performing loans) held by a bank or a financial organisation, or perhaps a group of banks or financial organisations.

In finance, bad debt, occasionally called uncollectible accounts expense, is a monetary amount owed to a creditor that is unlikely to be paid and for which the creditor is not willing to take action to collect for various reasons, often due to the debtor not having the money to pay, for example due to a company going into liquidation or insolvency. A high bad debt rate is caused when a b

The dollar (sign: $; code: BSD) has been the currency of The Bahamas since 1966. It is normally abbreviated with the dollar sign $, or alternatively B$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents.

Bai Salam (Arabic بيع سلم, more accurately transliterated as Bai us Salami) is an Islamic contract in which full payment is made in advance for specific goods (often agricultural products) to be delivered at a future date. It is necessary that the quality of the commodity intended to be purchased is fully specified leaving no ambiguity leading to dispute. Bai salam covers almost every

A bailout is the provision of financial help to a corporation or country which otherwise would undergo bankruptcy. A bailout differs from the term bail-in (coined in 2010) under which the bondholders or depositors of global systemically important financial institutions (G-SIFIs) are forced to participate in the recapitalization process but taxpayers are not. Some governments also have th

Banco Hispano Americano (BHA) was a private Spanish bank that operated during most of the 20th century, becoming one of the most important financial institutions in the country. The activities of the Hispano Americano were not limited to the financial sector and it also had a prominent presence in the industrial sector through various investments. It was also linked to foreign trade, ope

A bank account is a financial account maintained by a bank or other financial institution in which the financial transactions between the bank and a customer are recorded. Each financial institution sets the terms and conditions for each type of account it offers, which are classified in commonly understood types, such as deposit accounts, credit card accounts, current accounts, loan ac

Bank Australia is an Australian customer-owned bank based in Collingwood, Victoria. The organisation can trace its origins back to 1957, when the CSIRO Co-operative Credit Society was formed. Over succeeding years, mergers among 72 other credit unions and co-operative banks eventually led to the creation of the Members & Education Credit Union (mecu) in 2003, which became Bankmecu in 201

A bank failure occurs when a bank is unable to meet its obligations to its depositors or other creditors because it has become insolvent or too illiquid to meet its liabilities. Failing banks share commonalities: rising asset losses, deteriorating solvency, and an increasing reliance on expensive noncore funding.

Bank of Dave is a 2023 British biographical comedy-drama film directed by Chris Foggin, written by Piers Ashworth and produced by Matt Williams, Karl Hall and Piers Tempest. It stars Joel Fry, Phoebe Dynevor, Rory Kinnear, Hugh Bonneville, Paul Kaye, Jo Hartley and Cathy Tyson.

Bank rate, also known as discount rate in American English, and (familiarly) the base rate in European English, is the rate of interest which a central bank charges on its loans and advances to a commercial bank. The bank rate is known by a number of different terms depending on the country, and has changed over time in some countries as the mechanisms used to manage the rate have change

A bank run or run on the bank occurs when many clients withdraw their money from a bank, because they believe the bank may fail in the near future. It may occur when, in a fractional-reserve banking system (where banks normally only keep a small proportion of their assets as cash), a large volume of customers seek to withdraw a greater amount of cash from deposit accounts with a financia

Banking secrecy, alternatively known as financial privacy, banking discretion, or bank safety, is a conditional agreement between a bank and its clients that all foregoing activities remain secure, confidential, and private. Most often associated with banking in Switzerland, banking secrecy is prevalent in Luxembourg, Monaco, Hong Kong, Singapore, Ireland, and Lebanon, among other off-sh

A bank transaction tax is a tax levied on debit (and/or credit) entries on bank accounts. In 1989, at the Buenos Aires meetings of the International Institute of Public Finance, University of Wisconsin–Madison Professor of Economics Edgar L. Feige proposed extending the tax reform ideas of John Maynard Keynes, James Tobin and Lawrence Summers, to their logical conclusion, namely to tax a

The banker of ancient times was employed within financial activities, during the ancient Mesopotamian, ancient Greek and ancient Roman periods.

A banker's acceptance is a document issued by a bank institution that represents a bank's commitment to make a requested future payment. The request will typically specify the payee, the amount, and the date on which it is eligible for payment. After acceptance, the request becomes an unconditional liability of the bank. Banker's acceptances are distinguished from ordinary time drafts in

Under English law, a bank has a general right to combine accounts where a customer has multiple accounts with the same bank. The right has been recognised since at least 1860. However it was not until the 1975 House of Lords decision in National Westminster Bank Ltd v Halesowen Presswork & Assemblies Ltd [1972] AC 785 that it was finally determined that this was a type of set-off righ

Bankers' bonuses are traditionally paid or awarded to some workers in the finance industry at the end of the bank's financial year. They are intended to reward employee behavior during that year that has increased the profits of the bank or some relevant part of its business, as shown by the annual accounts. The bonus culture is usually associated with the front office or investment bank

Banking as a service (BaaS) is the provision of banking products (such as deposit accounts, loans and credit cards) to customers through non-bank or non-financial third party partnerships. The bank provides the balance sheet management, including capital, liquidity and credit risk management, while the partner company (typically a fintech) interacts directly with the customer via their p

In ancient Rome there were a variety of officials tasked with banking. These were the argentarii, mensarii, coactores, and nummularii. The argentarii were money changers. The role of the mensarii was to help people through economic hardships, the coactores were hired to collect money and give it to their employer, and the nummularii minted and tested currency. They offered credit systems

During the 1990s, marked by President Carlos Menem's policies of liberalization, Argentina's financial system saw a significant consolidation and strengthening, in large part through foreign investment. In addition to high reserve and capital-adequacy requirements, the Central Bank of Argentina maintained a repurchase agreement with a consortium of international banks to provide a $6,000

This article discusses banking in Cuba and gives an overview of the recent past. For details on the Cuban economy in general, see economy of Cuba.

Panama has a substantial financial services sector. The sector grew up providing trade finance for trade passing through the Panama Canal, and later evolved into money laundering for the drug trade under Manuel Noriega.

Established by the Bank of South Sudan Act of 2011, the Central Bank of South Sudan is statutorily mandated to regulate the operations of all financial institutions in the country, including commercial banks. The Central Bank fulfills this mandate by issuing prudential guidelines and regulations as provided for under the Act. In theory, the licensed commercial banks are obligated to oper