State bank

State Bank is the obsolete term for credit institutions that are entirely state owned and / or on behalf of a State were working for certain, their assigned tasks. To separate speaking, the State Bank of the Central Bank, the role of the monetary policy of a currency area.

General

The German term " State bank" is now no longer in use, but has only historical significance. Either he is today used as an imprecise synonym for a central bank or it is used for public- sector banks with special functions. Thus, the Landesbanken are indeed referred to as state-owned banks, but they are exclusively responsible for the respective provinces, in whose possession they are mostly (mostly ) are. For this take the country's banks - in addition to its function as a commercial bank - some tasks, such as the issuance of debt in the respective province or other banking transactions true.

History

First German State Bank was the Brunswick State Bank, a predecessor to today's Norddeutsche Landesbank. It was founded by Duke Charles I of Brunswick- Lüneburg on 9 March 1765 Ducal Leyhaus and was the first state bank on German soil. In 1780, Margrave Karl Alexander founded his own Hofbank that was high Princely -Brandenburg -Anspach - Bayreuthische Hofbanco, which was renamed in 1918 in the Bavarian State Bank. A decree of 24 March 1920 introduced the Bavarian State Bank on a new legal basis. On March 8, 1971, the Bavarian State Bank merged with Bayerische Vereinsbank. State Bank of the GDR since January 1, 1968, the designations of grades and Central Bank of the German Democratic Republic. The Bank was founded on 31 October 1951 as German central bank simultaneously perceived the tasks of a central bank.

The Swiss National Bank was established by decision of the Swiss Federal Council of 24 January 1894. Today, belonging to the canton cantonal banks are sometimes referred to as state-owned banks because they structured public law and are still favored by the statutory guarantee of their cantons.

The (80% of the Federal Republic of belonging ) KfW banking group is sometimes referred to as a state bank, because it operates the national support business and development assistance abroad ( through KfW's subsidiary German Investment and Development Company ).

State Banks

The English term " State Bank ", however, is in the U.S., founded by a U.S. state and - used for Federal Reserve System owned bank - usually. This nation-wide clearing system was founded on July 15, 1916, so that the State Banks also send the responsibilities of a clearing bank. State Banks were due to the Section 9 of the Federal Reserve Act members of the Federal Reserve System. However, there are also State Banks that do not belong to the Federal Reserve System ( "state nonmember banks" ). Members of the Federal Reserve System are monitored by this, non-members of the Federal Deposit Insurance Corporation. In the U.S., the term State Bank is also used to distinguish it from the National Banks.