Retail banking known as consumer banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are described as wholesale banking. Banking services which are regarded as retail include provision of savings and transactional accounts, personal loans, debit cards, credit cards. Retail banking is distinguished from investment banking or commercial banking, it may refer to a division or department of a bank which deals with individual customers. In the U. S. the term commercial bank is used for a normal bank to distinguish it from an investment bank. After the Great Depression, the Glass–Steagall Act restricted normal banks to banking activities, investment banks were limited to engaging capital market activities; that distinction was repealed in the 1990s. Commercial bank can refer to a bank or a division of a bank that deals with deposits and loans from corporations or large businesses, as opposed to individual members of the public.
Typical retail banking services offered by banks include: Transactional accounts Checking accounts Current accounts Savings accounts Debit cards ATM cards Credit cards Traveler's cheques Mortgages Home equity loans Personal loans Certificates of deposit/Term depositsIn some countries, such as the U. S. retail bank services include more specialised accounts, such as: Sweep accounts Money market accounts Individual Retirement Accounts Community development bank are regulated banks that provide financial services and credit to underserved markets or populations. Private banks manage the assets of high-net-worth individuals. Offshore banks are banks located in jurisdictions with low regulation. Many offshore banks are private banks. Savings banks accept savings deposits. Postal savings banks are savings banks associated with national postal systems. Banking institution Bank
Samurai were the military nobility and officer caste of medieval and early-modern Japan. In Japanese, they are referred to as bushi or buke. According to translator William Scott Wilson: "In Chinese, the character 侍 was a verb meaning'to wait upon','accompany persons' in the upper ranks of society, this is true of the original term in Japanese, saburau. In both countries the terms were nominalized to mean'those who serve in close attendance to the nobility', the Japanese term saburai being the nominal form of the verb." According to Wilson, an early reference to the word samurai appears in the Kokin Wakashū, the first imperial anthology of poems, completed in the first part of the 10th century. By the end of the 12th century, samurai became entirely synonymous with bushi, the word was associated with the middle and upper echelons of the warrior class; the samurai were associated with a clan and their lord, were trained as officers in military tactics and grand strategy. While the samurai numbered less than 10% of Japan's population, their teachings can still be found today in both everyday life and in modern Japanese martial arts.
Following the Battle of Hakusukinoe against Tang China and Silla in 663 AD which led to a retreat from Korean affairs, Japan underwent widespread reform. One of the most important was that of the Taika Reform, issued by Prince Naka-no-Ōe in 646 AD; this edict allowed the Japanese aristocracy to adopt the Tang dynasty political structure, culture and philosophy. As part of the Taihō Code of 702 AD, the Yōrō Code, the population was required to report for the census, a precursor for national conscription. With an understanding of how the population was distributed, Emperor Monmu introduced a law whereby 1 in 3–4 adult males were drafted into the national military; these soldiers were required to supply their own weapons, in return were exempted from duties and taxes. This was one of the first attempts by the Imperial government to form an organized army modeled after the Chinese system, it was called "Gundan-Sei" by historians and is believed to have been short-lived. The Taihō Code classified most of the Imperial bureaucrats into 12 ranks, each divided into two sub-ranks, 1st rank being the highest adviser to the Emperor.
Those of 6th rank and below were dealt with day-to-day affairs. Although these "samurai" were civilian public servants, the modern word is believed to have derived from this term. Military men, would not be referred to as "samurai" for many more centuries. In the early Heian period, during the late 8th and early 9th centuries, Emperor Kanmu sought to consolidate and expand his rule in northern Honshū, sent military campaigns against the Emishi, who resisted the governance of the Kyoto-based imperial court. Emperor Kanmu introduced the title of sei'i-taishōgun, or shōgun, began to rely on the powerful regional clans to conquer the Emishi. Skilled in mounted combat and archery, these clan warriors became the Emperor's preferred tool for putting down rebellions. Though this is the first known use of the title shōgun, it was a temporary title and was not imbued with political power until the 13th century. At this time, the Imperial Court officials considered them to be a military section under the control of the Imperial Court.
Emperor Kanmu disbanded his army. From this time, the emperor's power declined. While the emperor was still the ruler, powerful clans around Kyoto assumed positions as ministers, their relatives bought positions as magistrates. To amass wealth and repay their debts, magistrates imposed heavy taxes, resulting in many farmers becoming landless. Through protective agreements and political marriages, the aristocrats accumulated political power surpassing the traditional aristocracy; some clans were formed by farmers who had taken up arms to protect themselves from the Imperial magistrates sent to govern their lands and collect taxes. These clans formed alliances to protect themselves against more powerful clans, by the mid-Heian period, they had adopted characteristic Japanese armor and weapons; the Emperor and non-warrior nobility employed these warrior nobles. In time they amassed enough manpower and political backing, in the form of alliances with one another, to establish the first samurai-dominated government.
As the power of these regional clans grew, their chief was a distant relative of the Emperor and a lesser member of either the Fujiwara, Minamoto, or Taira clans. Though sent to provincial areas for fixed four-year terms as magistrates, the toryo declined to return to the capital when their terms ended, their sons inherited their positions and continued to lead the clans in putting down rebellions throughout Japan during the middle- and later-Heian period; because of their rising military and economic power, the warriors became a new force in the politics of the Imperial court. Their involvement in the Hōgen Rebellion in the late Heian period consolidated their power, which pitted the rivalry of Minamoto and Taira clans against each other in the Heiji Rebellion of 1160; the victor, Taira no Kiyomori, became an imperial advisor and was the first warrior to attain such a position. He seized control of the central government, establishing the first samurai-dominated government and relegating the Emperor to figurehead status.
However, the Taira clan was still conservative when compared to its eventual successor, the Minamoto, instead of expanding or stre
A bank is a financial institution that accepts deposits from the public and creates credit. Lending activities can be performed either indirectly through capital markets. Due to their importance in the financial stability of a country, banks are regulated in most countries. Most nations have institutionalized a system known as fractional reserve banking under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are subject to minimum capital requirements based on an international set of capital standards, known as the Basel Accords. Banking in its modern sense evolved in the 14th century in the prosperous cities of Renaissance Italy but in many ways was a continuation of ideas and concepts of credit and lending that had their roots in the ancient world. In the history of banking, a number of banking dynasties – notably, the Medicis, the Fuggers, the Welsers, the Berenbergs, the Rothschilds – have played a central role over many centuries.
The oldest existing retail bank is Banca Monte dei Paschi di Siena, while the oldest existing merchant bank is Berenberg Bank. The concept of banking may have begun in ancient Assyria and Babylonia, with merchants offering loans of grain as collateral within a barter system. Lenders in ancient Greece and during the Roman Empire added two important innovations: they accepted deposits and changed money. Archaeology from this period in ancient China and India shows evidence of money lending. More modern banking can be traced to medieval and early Renaissance Italy, to the rich cities in the centre and north like Florence, Siena and Genoa; the Bardi and Peruzzi families dominated banking in 14th-century Florence, establishing branches in many other parts of Europe. One of the most famous Italian banks was the Medici Bank, set up by Giovanni di Bicci de' Medici in 1397; the earliest known state deposit bank, Banco di San Giorgio, was founded in 1407 at Italy. Modern banking practices, including fractional reserve banking and the issue of banknotes, emerged in the 17th and 18th centuries.
Merchants started to store their gold with the goldsmiths of London, who possessed private vaults, charged a fee for that service. In exchange for each deposit of precious metal, the goldsmiths issued receipts certifying the quantity and purity of the metal they held as a bailee; the goldsmiths began to lend the money out on behalf of the depositor, which led to the development of modern banking practices. The goldsmith paid interest on these deposits. Since the promissory notes were payable on demand, the advances to the goldsmith's customers were repayable over a longer time period, this was an early form of fractional reserve banking; the promissory notes developed into an assignable instrument which could circulate as a safe and convenient form of money backed by the goldsmith's promise to pay, allowing goldsmiths to advance loans with little risk of default. Thus, the goldsmiths of London became the forerunners of banking by creating new money based on credit; the Bank of England was the first to begin the permanent issue of banknotes, in 1695.
The Royal Bank of Scotland established the first overdraft facility in 1728. By the beginning of the 19th century a bankers' clearing house was established in London to allow multiple banks to clear transactions; the Rothschilds pioneered international finance on a large scale, financing the purchase of the Suez canal for the British government. The word bank was taken Middle English from Middle French banque, from Old Italian banco, meaning "table", from Old High German banc, bank "bench, counter". Benches were used as makeshift desks or exchange counters during the Renaissance by Jewish Florentine bankers, who used to make their transactions atop desks covered by green tablecloths; the definition of a bank varies from country to country. See the relevant country pages under for more information. Under English common law, a banker is defined as a person who carries on the business of banking by conducting current accounts for his customers, paying cheques drawn on him/her and collecting cheques for his/her customers.
In most common law jurisdictions there is a Bills of Exchange Act that codifies the law in relation to negotiable instruments, including cheques, this Act contains a statutory definition of the term banker: banker includes a body of persons, whether incorporated or not, who carry on the business of banking'. Although this definition seems circular, it is functional, because it ensures that the legal basis for bank transactions such as cheques does not depend on how the bank is structured or regulated; the business of banking is in many English common law countries not defined by statute but by common law, the definition above. In other English common law jurisdictions there are statutory definitions of the business of banking or banking business; when looking at these definitions it is important to keep in mind that they are defining the business of banking for the purposes of the legislation, not in general. In particular, most of the definitions are from legislation that has the purpose of regulating and supervising banks rather than regulating the actual business of banking.
However, in many cases the statutory definition mirrors the common law one. Examples of statutory definitions: "banking business" means the business of receiving money on current or deposit account and collecting cheques drawn by or paid in by customers, the making
A public company, publicly traded company, publicly held company, publicly listed company, or public limited company is a corporation whose ownership is dispersed among the general public in many shares of stock which are traded on a stock exchange or in over the counter markets. In some jurisdictions, public companies over a certain size must be listed on an exchange. A public company can be unlisted. Public companies are formed within the legal systems of particular nations, therefore have national associations and formal designations which are distinct and separate. For example one of the main public company forms in the United States is called a limited liability company, in France is called a "society of limited responsibility", in Britain a public limited company, in Germany a company with limited liability. While the general idea of a public company may be similar, differences are meaningful, are at the core of international law disputes with regard to industry and trade. In the early modern period, the Dutch developed several financial instruments and helped lay the foundations of modern financial system.
The Dutch East India Company became the first company in history to issue bonds and shares of stock to the general public. In other words, the VOC was the first publicly traded company, because it was the first company to be actually listed on an official stock exchange. While the Italian city-states produced the first transferable government bonds, they did not develop the other ingredient necessary to produce a fledged capital market: corporate shareholders; as Edward Stringham notes, "companies with transferable shares date back to classical Rome, but these were not enduring endeavors and no considerable secondary market existed." The securities of a publicly traded company are owned by many investors while the shares of a held company are owned by few shareholders. A company with many shareholders is not a publicly traded company. In the United States, in some instances, companies with over 500 shareholders may be required to report under the Securities Exchange Act of 1934. Public companies possess some advantages over held businesses.
Publicly traded companies are able to raise funds and capital through the sale of shares of stock. This is the reason publicly traded corporations are important; the profit on stock is gained in form of capital gain to the holders. The financial media and the public are able to access additional information about the business, since the business is legally bound, motivated, to publicly disseminate information regarding the financial status and future of the company to its many shareholders and the government; because many people have a vested interest in the company's success, the company may be more popular or recognizable than a private company. The initial shareholders of the company are able to share risk by selling shares to the public. If one were to hold a 100% share of the company, he or she would have to pay all of the business's debt; this increases asset liquidity and the company does not need to depend on funding from a bank. For example, in 2013 Facebook founder Mark Zuckerberg owned 29.3% of the company's class A shares, which gave him enough voting power to control the business, while allowing Facebook to raise capital from, distribute risk to, the remaining shareholders.
Facebook was a held company prior to its initial public offering in 2012. If some shares are given to managers or other employees, potential conflicts of interest between employees and shareholders will be remitted; as an example, in many tech companies, entry-level software engineers are given stock in the company upon being hired. Therefore, the engineers have a vested interest in the company succeeding financially, are incentivized to work harder and more diligently to ensure that success. Many stock exchanges require that publicly traded companies have their accounts audited by outside auditors, publish the accounts to their shareholders. Besides the cost, this may make useful information available to competitors. Various other annual and quarterly reports are required by law. In the United States, the Sarbanes–Oxley Act imposes additional requirements; the requirement for audited books is not imposed by the exchange known as OTC Pink. The shares may be maliciously held by outside shareholders and the original founders or owners may lose benefits and control.
The principal-agent problem, or the agency problem is a key weakness of public companies. The separation of a company's ownership and control is prevalent in such countries as U. K and U. S. In the United States, the Securities and Exchange Commission requires that firms whose stock is traded publicly report their major shareholders each year; the reports identify all institutional shareholders, all company officials who own shares in their firm, any individual or institution owning more than 5% of the firm's stock. For many years, newly created companies were held but held initial
Hirosaki is a city located in western Aomori Prefecture, Japan. As of 1 December 2017, the city had an estimated population of 174,171 in 71,823 households, a population density of 330 persons per km2; the total area of the city is 524.20 square kilometres. Hirosaki developed; the city is a regional commercial center, the largest producer of apples in Japan. The city government has been promoting the catchphrase "Apple Colored Town Hirosaki", "Castle and Cherry Blossom and Apple Town" to promote the city image; the town is noted for a large number of western-style buildings dating from the Meiji period. Hirosaki is located in western Aomori Prefecture, in the Tsugaru plains of southern Tsugaru Peninsula, south of Mount Iwaki and bordering on Akita Prefecture. Mount Iwaki is within the city borders, the Iwaki River flows through the city. Aomori Prefecture Tsugaru Hirakawa Nakatsugaru District – Nishimeya Minamitsugaru District – Ōwani, Inakadate Kitatsugaru District – Itayanagi, Tsuruta Nishitsugaru District – Ajigasawa Akita Prefecture Ōdate Per Japanese census data, the population of Hirosaki has grown over the past 40 years.
Hirosaki uses a Buddhist manji as its official emblem. This came from the flag emblem of Tsugaru clan, the daimyōs of Hirosaki Domain during the Edo period. Hirosaki has a cold humid continental climate characterized by warm short summers and long cold winters with heavy snowfall; the average annual temperature in Hirosaki is 10.1 °C. The average annual rainfall is 1357 mm with September as the wettest month; the temperatures are highest on average in August, at around 23.7 °C, lowest in January, at around -2.3 °C. The area around Hirosaki formed part of the domains of the Northern Fujiwara in the Heian period. During the Sengoku period a local retainer of the Nambu, Ōura Tamenobu, declared his independence and seized local castles, he pledged fealty to Toyotomi Hideyoshi at the Battle of Odawara in 1590, was confirmed in his holdings with revenues of 45,000 koku. He changed his name to "Tsugaru". After siding with Tokugawa Ieyasu at the Battle of Sekigahara, he was re-confirmed in his holdings with a nominal kokudaka of 47,000 koku and he began construction of a castle in Takaoka.
This marked the start of Hirosaki Domain under the Tokugawa shogunate. His successor, Tsugaru Nobuhira, completed the castle in 1611, but its massive 5-storey donjon was lost to lightning in 1627; the domain's kokudaka increased to 100,000 koku in 1628. The Tsugaru clan sided with the Satchō Alliance in the Boshin War of the Meiji Restoration, was rewarded by the new Meiji government with an additional 10,000 koku. However, with the abolition of the han system on August 29, 1871, Hirosaki Domain was abolished, replaced by Hirosaki Prefecture; the prefecture was renamed Aomori Prefecture in October of the same year, the prefectural capital was relocated to the more centrally located Aomori. Chōyō Elementary School was established on October 1, 1873. Apple horticulture was introduced to Hirosaki from 1877 and the 59th National Bank, the predecessor of Aomori Bank opened in March 1878. Hirosaki was proclaimed a city on April 1, 1889 with the establishment of the modern municipalities system and was thus one of the first 30 cities in Japan.
It was the third largest city in the Tōhoku region after Sendai and Morioka at the time. The Ōu Main Line connected Hirosaki with Aomori on December 1, 1894. Hirosaki became the home garrison town for the Imperial Japanese Army's IJA 8th Division from October, 1898; the division was prominently active in the Russo-Japanese War. Hirosaki City Hospital was established in 1901, Hirosaki City Library in 1906; the first telephone service in the city stated from 1909. The first Cherry Blossom Festival was held in 1918. In 1927, the Kōnan Railway connected Hirosaki with Onoe. Hirosaki University was established in 1949. On March 1, 1955, Hirosaki expanded through annexation of neighboring villages of Shimizu, Toyoda, Chitose, Niina, Takasugi and Higashimeya. Nishimeya became an enclave; the city further expanded on September 1957, through annexation of neighboring Ishikawa Village. The first Chrysanthemum and Maple Festival took place in 1964, the first Hirosaki Castle Snow Lantern Festival in 1977. In 1979, the city was connected to the Tōhoku Expressway by a spur road named "Apple Road".
On November 15, 2006, old Hirosaki city, the town of Iwaki, village of Sōma were merged into the new and expanded city of Hirosaki. Hirosaki has a mayor-council form of government with a directly elected mayor and a unicameral city legislature of 28 members; the city, together with the neighbouring village of Nishimeya, contributes six members to the Aomori Prefectural Assembly. Hirosaki is the regional commercial center for southwest Aomori Prefecture; the main agricultural crops include apples and rice, with Hirosaki accounting for 20% of the total production of apples in Japan. Hirosaki University Tohoku Women's College Hirosaki Gakuin University Hirosaki University of Health and Welfare Tohoku Women's Junior College Hirosaki University of Heath and Welfare Junior College Hirosaki has 36 public elementary schools and 15 public junior high schools operated by the city government. There is one national public elementary school and public junior high school, one private combined elementary/junior high school and one private junior high school.
The city has six public high schools operated by the Aom
Aomori Prefecture is a prefecture of Japan located in the Tōhoku region. The capital is the city of Aomori; until the Meiji Restoration, the area of Aomori prefecture was known as the northern part of Mutsu Province. During the Edo period the Hirosaki clan began building a seaport at the current city of Aomori. There were green woods near the city; these green woods called. The prefecture came into existence in 1871; the town of Aomori was established in 1889. The town was incorporated as a city in 1898 with a population of 28,000. On May 3, 1910, a fire broke out in the Yasukata district. Fanned by strong winds, the fire devastated the whole city; the conflagration injured a further 160 residents. It destroyed burnt 19 storage sheds and 157 warehouses. At 10:30 p.m. on July 28, 1945, a squadron of American B29 bombers bombed over 90% of the city. Radio Aomori made its first broadcast in 1951. Four years the first fish auctions were held. 1958 saw the completion of the Municipal Fish Market as well as the opening of the Citizen's Hospital.
In the same year, the Tsugaru Line established a rail connection with Minmaya Village at the tip of the peninsula. Various outlying towns and villages were incorporated into the growing city and with the absorption of Nonai Village in 1962, Aomori became the largest city in the prefecture. In March 1985, after 23 years of labor and a financial investment of 700 billion yen, the Seikan Tunnel linked the islands of Honshū and Hokkaidō, thereby becoming the longest tunnel of its kind in the world. Three years on March 13, railroad service was inaugurated on the Tsugaru Kaikyo Line; that same day saw the end of the Seikan ferry rail service. During their 80 years of service, the familiar ferries of the Seikan line sailed between Aomori and Hakodate some 720,000 times, carrying 160 million passengers. In April 1993, Aomori Public College opened. In August 1994, Aomori City made an "Education and Friendship Exchange Pact" with Kecskemét in Hungary. One year a similar treaty was signed with Pyongtaek in South Korea, cultural exchange activities began with exchanges of woodblock prints and paintings.
In April 1995, Aomori Airport began offering regular international air service to Seoul, South Korea, Khabarovsk, Russia. In June 2007, four North Korean defectors reached Aomori Prefecture, after having been at sea for six days, marking the second known case where defectors have reached Japan by boat. In March 2011, a magnitude 9.0 earthquake struck Japan on the east coast. The northeastern coast of Aomori Prefecture was affected by the resulting tsunami. Buildings along harbors were damaged along with boats thrown about in the streets. Aomori prefecture's climate is cool for the most part, it has four distinct seasons with an average temperature of 10 °C. Variations in climate exist between the western parts of the prefecture; this is in part due to the Ōu Mountains that divide the two regions. The western side is subject to heavy monsoons and little sunshine which results in heavy snowfall during the winter; the eastern side receives little sunlight during the summer months, June through August, with temperatures staying low.
The lowest recorded temperature during the winter is -9.3 °C, the highest recorded temperature during the summer is 33.1 °C. Aomori Prefecture is the northernmost prefecture on Honshu and faces Hokkaido across the Tsugaru Strait, it borders Iwate in the south. Oma, at the northwestern tip of the axe-shaped Shimokita Peninsula, is the northernmost point of Honshu; the Shimokita and Tsugaru Peninsulas enclose Mutsu Bay. Between those peninsulas lies the Natsudomari Peninsula, the northern end of the Ōu Mountains; the three peninsulas are prominently visible in a stylized map. Lake Towada, a crater lake, straddles Aomori's boundary with Akita. Oirase River flows easterly from Lake Towada; the Shirakami Mountains are located in western Aomori and contain the last of the virgin beech tree forest, home to over 87 species of birds. As of April 1, 2012, 12% of the total land area of the prefecture was designated as Natural Parks, namely Towada-Hachimantai National Park. Ten cities are located in Aomori Prefecture: These are the towns and villages in each district: Aomori Prefecture is host to the Misawa Air Base, the only combined, joint U.
S. service installation in the western Pacific servicing Army and Air Force, as well as the Japan Self-Defense Forces. On 20 February 2018 a U. S. Air Force F-16 fighter jet caught fire in flight; the pilot dumped two fuel tanks into Lake Ogawarako in northern Aomori Prefecture. Like much of the Tōhoku Region, Aomori Prefecture remains dominated by traditional industries such as farming and fishing. Aomori Prefecture is Japan's largest producer of apples. Aomori boasts being the home to Hakkōda cattle, a rare, region-specific breed of Japanese Shorthorn; the town of Gonohe has a long history as a breeding center for horses of exceptional quality, popular among the samurai. With the decline of the samurai, Gonohe's horses continued to be bred for their meat; the lean horse meat is coveted as a delicacy when served in its raw form, known as Basashi. The Aomori coast along