1.
Trinidad and Tobago
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During the same period, the island of Tobago changed hands among Spanish, British, French, Dutch and Courlander colonizers, more times than any other island in the Caribbean. Trinidad and Tobago were ceded to Britain in 1802 under the Treaty of Amiens, the country Trinidad and Tobago obtained independence in 1962, becoming a republic in 1976. Trinidad and Tobago is the third richest country by GDP per capita in the Americas after the United States, furthermore, it is recognised as a high-income economy by the World Bank. Unlike most of the English-speaking Caribbean, the economy is primarily industrial, with an emphasis on petroleum. The countrys wealth is attributed to its reserves and exploitation of oil. Historian E. L. Joseph claimed that Trinidads Amerindian name was Iere or Land of the Humming Bird, derived from the Arawak name for hummingbird, however, Boomert claims that neither cairi nor caeri means hummingbird and tukusi or tucuchi does. Others have reported that kairi and iere simply mean island, christopher Columbus renamed it La Isla de la Trinidad, fulfilling a vow made before setting out on his third voyage of exploration. Trinidad and Tobago are islands situated between 10°2 and 11°12 N latitude and 60°30 and 61°56 W longitude, at the closest point, Trinidad is just 11 kilometres from Venezuelan territory. Trinidad is 4,768 km2 in area with a length of 80 km. Tobago has an area of about 300 km2, or 5. 8% of the area, is 41 km long and 12 km at its greatest width. Trinidad and Tobago lie on the shelf of South America. The terrain of the islands is a mixture of mountains and plains, the highest point in the country is found on the Northern Range at El Cerro del Aripo, which is 940 metres above sea level. As the majority of the live in the island of Trinidad. There are four municipalities in Trinidad, Port of Spain. The main town in Tobago is Scarborough, Trinidad is made up of a variety of soil types, the majority being fine sands and heavy clays. The alluvial valleys of the Northern Range and the soils of the East-West Corridor are the most fertile, the Northern Range consists mainly of Upper Jurassic and Cretaceous metamorphic rocks. The Northern Lowlands consist of shallow marine clastic sediments. South of this, the Central Range fold and thrust belt consists of Cretaceous and Eocene sedimentary rocks, the Naparima Plains and the Nariva Swamp form the southern shoulder of this uplift
2.
Central bank
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A central bank, reserve bank, or monetary authority is an institution that manages a states currency, money supply, and interest rates. Central banks also usually oversee the commercial banking system of their respective countries, Central banks in most developed nations are institutionally designed to be independent from political interference. Still, limited control by the executive and legislative bodies usually exists, prior to the 17th century most money was commodity money, typically gold or silver. However, promises to pay were widely circulated and accepted as value at least five hundred years earlier in both Europe and Asia. The Song dynasty was the first to issue generally circulating paper currency, in 1455, in an effort to control inflation, the succeeding Ming Dynasty ended the use of paper money and closed much of Chinese trade. The Bank of Amsterdam, established in the Dutch Republic in 1609, is considered to be the forerunner to modern central banks. The Wisselbanks innovations helped lay the foundations for the birth and development of the banking system that now plays a vital role in the worlds economy. Along with a number of local banks, it performed many functions of a central banking system. Lucien Gillard calls it the European guilder, and Adam Smith devotes many pages to explaining how the bank guilder works, the model of the Wisselbank as a state bank was adapted throughout Europe, including the Bank of Sweden and the Bank of England. Established by Dutch-Latvian Johan Palmstruch in 1668, Sveriges Riksbank is often considered by many as the worlds oldest central bank, the lenders would give the government cash and also issue notes against the government bonds, which could be lent again. A Royal Charter was granted on 27 July through the passage of the Tonnage Act 1694, the bank was given exclusive possession of the governments balances, and was the only limited-liability corporation allowed to issue banknotes. The £1. 2M was raised in 12 days, half of this was used to rebuild the Navy and these modern central banking functions evolved slowly through the 18th and 19th centuries. The currency crisis of 1797, caused by panicked depositors withdrawing from the Bank led to the government suspending convertibility of notes into specie payment. The bank was accused by the bullionists of causing the exchange rate to fall from over issuing banknotes. Nevertheless, it was clear that the Bank was being treated as an organ of the state, henry Thornton, a merchant banker and monetary theorist has been described as the father of the modern central bank. An opponent of the real bills doctrine, he was a defender of the bullionist position, thorntons process of monetary expansion anticipated the theories of Knut Wicksell regarding the cumulative process which restates the Quantity Theory in a theoretically coherent form. Until the mid-nineteenth century, commercial banks were able to issue their own banknotes, many consider the origins of the central bank to lie with the passage of the Bank Charter Act of 1844. Under this law, authorisation to issue new banknotes was restricted to the Bank of England, at the same time, the Bank of England was restricted to issue new banknotes only if they were 100% backed by gold or up to £14 million in government debt
3.
Dollar
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Dollar is the name of more than twenty currencies, including those of the United States, Canada, Australia, Taiwan, Hong Kong, Singapore, New Zealand, Liberia, Jamaica and Namibia. Generally, one dollar is divided into one hundred cents, on 15 January 1520, the Czech Kingdom of Bohemia began minting coins from silver mined locally in Joachimsthal and marked on reverse with the Czech lion. The coins were called joachimsthaler, which became shortened in common usage to thaler or taler, the German name Joachimsthal literally means Joachims valley or Joachims dale. A later Dutch coin also depicting a lion was called the leeuwendaler or leeuwendaalder, the Dutch Republic produced these coins to accommodate its booming international trade. The leeuwendaler circulated throughout the Middle East and was imitated in several German and Italian cities and this coin was also popular in the Dutch East Indies and in the Dutch New Netherland Colony. It was in throughout the Thirteen Colonies during the 17th. The currencies of Romania and Bulgaria are, to this day, the modern American-English pronunciation of dollar is still remarkably close to the 17th century Dutch pronunciation of daler. Some well-worn examples circulating in the Colonies were known as dog dollars, Spanish pesos – having the same weight and shape – came to be known as Spanish dollars. By the time of the American Revolution, Spanish dollars gained significance because they backed paper money authorized by the individual colonies, common in the Thirteen Colonies, Spanish dollars were even legal tender in one colony, Virginia. On April 2,1792, U. S. Secretary of the Treasury Alexander Hamilton reported to Congress the precise amount of found in Spanish dollar coins in common use in the states. As a result, the United States dollar was defined as a unit of silver weighing 371 4/16th grains. It was specified that the money of account of the United States should be expressed in those same dollars or parts thereof, in an act passed in January 1837, the dollars alloy was set at 15%. Subsequent coins would contain the amount of pure silver as previously. On February 21,1853, the quantity of silver in the coins was reduced. However, the dollars constitutional meaning has remained unchanged through the years, silver was mostly removed from U. S. coinage by 1965 and the dollar became a free-floating fiat currency without a commodity backing defined in terms of real gold or silver. The US Mint continues to make silver $1-denomination coins, but these are not intended for general circulation, there are many quotes in the plays of William Shakespeare referring to dollars as money. This might be supported by a reference to the sum of ten dollars in Macbeth. In 1804, a British five-shilling piece, or crown, was sometimes called dollar and it was an overstruck Spanish eight real coin, the original of which was known as a Spanish dollar
4.
Anne, Queen of Great Britain
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Anne became Queen of England, Scotland and Ireland on 8 March 1702. On 1 May 1707, under the Acts of Union, two of her realms, the kingdoms of England and Scotland, united as a sovereign state known as Great Britain. She continued to reign as Queen of Great Britain and Ireland until her death, Anne was born in the reign of her uncle Charles II, who had no legitimate children. Her father, James, was first in line to the throne and his suspected Roman Catholicism was unpopular in England, and on Charless instructions Anne was raised as an Anglican. Three years after he succeeded Charles, James was deposed in the Glorious Revolution of 1688, Annes Dutch Protestant brother-in-law and cousin William III became joint monarch with his wife, Annes elder sister Mary II. Although the sisters had been close, disagreements over Annes finances, status and choice of acquaintances arose shortly after Marys accession, William and Mary had no children. After Marys death in 1694, William continued as sole monarch until he was succeeded by Anne upon his death in 1702, as queen, Anne favoured moderate Tory politicians, who were more likely to share her Anglican religious views than their opponents, the Whigs. The Whigs grew more powerful during the course of the War of the Spanish Succession and her close friendship with Sarah Churchill, Duchess of Marlborough, turned sour as the result of political differences. Anne was plagued by ill health throughout her life, from her thirties onwards, she grew increasingly lame and obese. Despite seventeen pregnancies by her husband, Prince George of Denmark, she died without any surviving children and was the last monarch of the House of Stuart. Anne was born at 11,39 p. m. on 6 February 1665 at St Jamess Palace, London, the child and second daughter of James, Duke of York. At her Anglican baptism in the Chapel Royal at St Jamess, her sister, Mary, was one of her godparents, along with the Duchess of Monmouth. The Duke and Duchess of York had eight children, but Anne, as a child, Anne suffered from an eye condition, which manifested as excessive watering known as defluxion. For medical treatment, she was sent to France, where she lived with her grandmother, Queen Henrietta Maria. Following her grandmothers death in 1669, Anne lived with an aunt, Henrietta Anne, on the sudden death of her aunt in 1670, Anne returned to England. Her mother died the following year, as was traditional in the royal family, Anne and her sister were brought up separated from their father in their own establishment at Richmond, London. On the instructions of Charles II, they were raised as Protestants, placed in the care of Colonel Edward and Lady Frances Villiers, their education was focused on the teachings of the Anglican church. Henry Compton, Bishop of London, was appointed as Annes preceptor, around 1671, Anne first made the acquaintance of Sarah Jennings, who later became her close friend and one of her most influential advisors
5.
Spanish dollar
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Its purpose was to correspond to the German thaler. The Spanish dollar was used by many countries as the first international currency because of its uniformity in standard. Some countries countersigned the Spanish dollar so it could be used as their local currency, the Spanish dollar was the coin upon which the original United States dollar was based, and it remained legal tender in the United States until the Coinage Act of 1857. Because it was used in Europe, the Americas. Diverse theories link the origin of the $ symbol to the columns, millions of Spanish dollars were minted over the course of several centuries. They were among the most widely circulating coins of the period in the Americas. In the 16th century, Count Hieronymus Schlick of Bohemia began minting coins known as Joachimsthalers, named for Joachimsthal, the Joachimsthalers weighed 451 Troy grains of silver. So successful were these coins that similar thalers were minted in Burgundy, the Burgundian Cross Thaler depicted the Cross of Burgundy and was prevalent in the Burgundian Netherlands that were revolting against the Spanish king and Duke of Burgundy Philip II. After 1575, the Dutch revolting provinces replaced the currency with a daalder depicting a lion, specifically to facilitate export trade, the leeuwendaalder was authorized to contain 427.16 grains of.750 fine silver, lighter than the large denomination coins then in circulation. Clearly it was advantageous for a Dutch merchant to pay a foreign debt in leeuwendaalders rather than in other heavier. Thus, the leeuwendaalder or lion dollar became the coin of choice for foreign trade and it became popular in the Middle East, and colonies in the east and west. They also circulated throughout the English colonies during the Seventeenth and early Eighteenth centuries, from New Netherland the lion dollar spread to all thirteen colonies in the west. After the introduction of the Guldengroschen in Austria in 1486, the concept of a silver coin with high purity eventually spread throughout the rest of Europe. Monetary reform in Spain brought about the introduction of an 8-real coin in 1497, in 1537 the Spanish escudo gold coin was introduced, which was worth 16 reales. The later Gold Doubloon was worth 32 reales or 2 escudos and it is this divisibility into 8 which caused the silver coins to be named pieces of eight. In the following centuries, the coin was minted with different designs at various mints in Spain. In the 19th century, the denomination was changed to 20 reales. Spains adoption of the peseta in 1869 and its joining the Latin Monetary Union meant the end of the last vestiges of the Spanish dollar in Spain itself
6.
Mexican peso
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The Mexican peso is the currency of Mexico. Modern peso and dollar currencies have a origin in the 15th–19th century Spanish dollar, most continuing to use its sign. The Mexican peso is the 8th most traded currency in the world, the third most traded currency originating from the Americas, the current ISO4217 code for the peso is MXN, prior to the 1993 revaluation, the code MXP was used. The peso is subdivided into 100 centavos, represented by ¢, as of March 31,2017, the pesos exchange rate was $19.94 per Euro and $18.71 per U. S. dollar. The name was used in reference to pesos oro or pesos plata. The Spanish word peso means weight, the peso was originally the name of the eight-real coins issued in Mexico by Spain. These were the so-called Spanish dollars or pieces of eight in wide circulation in the Americas, in 1863, the first issue was made of coins denominated in centavos, worth one hundredth of the peso. This was followed in 1866 by coins denominated one peso, coins denominated in reales continued to be issued until 1897. In 1905, the content of the peso was reduced by 49. 3%. However, from 1918 onward, the weight and fineness of all the coins declined, until 1977. On January 1,1993 the Bank of Mexico introduced a new currency, one new peso, or N$1.00, was equal to 1000 of the obsolete MXP pesos. The ISO4217 code, however, remained unchanged as MXN, thanks to the stability of the Mexican economy and the growth in foreign investment, the Mexican peso is now among the 15 most traded currency units in recent years. The first coins of the currency were 1 centavo pieces minted in 1863. Emperor Maximilian, ruler of the Second Mexican Empire from 1864–1867 and his portrait was on the obverse, with the legend Maximiliano Emperador, the reverse shows the imperial arms and the legends Imperio Mexicano and 1 Peso and the date. They were struck from 1866 to 1867, the New Mexican republic continued to strike the 8 reales piece, but also began minting coins denominated in centavos and pesos. In addition to copper 1 centavo coins, silver coins of 5,10,25 and 50 centavos and 1 peso were introduced between 1867 and 1869, gold 1, 2½,5,10 and 20-peso coins were introduced in 1870. The obverses featured the Mexican eagle and the legend Republica Mexicana, the reverses of the larger coins showed a pair of scales, those of the smaller coins, the denomination. One-peso coins were made from 1865 to 1873, when 8 reales coins resumed production, in 1882, cupro-nickel 1,2 and 5 centavos coins were issued but they were only minted for two years
7.
Grenada
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Grenada is an island country consisting of Grenada itself and six smaller islands at the southern end of the Grenadines in the southeastern Caribbean Sea. Grenada is located northwest of Trinidad and Tobago, northeast of Venezuela, and southwest of Saint Vincent, Grenada is also known as the Island of Spice because of the production of nutmeg and mace crops, of which it is one of the worlds largest exporters. Its size is 344 square kilometres, with a population of 110,000. The national bird of Grenada is the critically endangered Grenada dove, before the arrival of Europeans, Grenada was inhabited by indigenous Arawaks and, subsequently, Island Caribs. Christopher Columbus sighted Grenada in 1498 during his voyage to the Americas. Although it was deemed the property of the King of Spain, French settlement and colonisation began in 1650 and continued for the next century. On 10 February 1763 Grenada was ceded to the British under the Treaty of Paris, British rule continued, except for a period of French rule between 1779 and 1783, until 1974. From 1958 to 1962 Grenada was part of the Federation of the West Indies, on March 3,1967, Grenada was granted full autonomy over its internal affairs as an Associated State. Herbert Blaize was the first Premier of the Associated State of Grenada from March to August 1967, Eric Gairy served as Premier from August 1967 until February 1974. Independence was granted on February 7,1974, under the leadership of Eric Gairy, Bishop was later freed by popular demonstration and attempted to resume power, but was captured and executed by soldiers. On October 25,1983, combined forces from the United States, the invasion was highly criticised by the governments of Britain, Trinidad and Tobago, and Canada, along with the United Nations General Assembly. Elections were held in December 1984 and were won by the Grenada National Party under Herbert Blaize who served as minister until his death in December 1989. On September 7,2004, after being hurricane-free for 49 years, the island was hit by Hurricane Ivan. On July 14,2005, Hurricane Emily struck the northern part of the island, the origin of the name Grenada is obscure, but it is likely that Spanish sailors renamed the island for the city of Granada. By the beginning of the 18th century, the name Grenada, on his third voyage to the region in 1498, Christopher Columbus sighted Grenada and named it La Concepción in honour of the Virgin Mary. It is said that he may have named it Assumpción. However, history has accepted that it was Tobago he named Assumpción, in 1499, the Italian explorer Amerigo Vespucci travelled through the region with the Spanish explorer Alonso de Ojeda and mapmaker Juan de la Cosa. Vespucci is reported to have renamed the island Mayo, which is how it appeared on maps for around the next 20 years, in the 1520s the Spanish named the islands to the north of Mayo as Los Granadillos, presumably after the mainland Spanish town
8.
Coin
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A coin is a small, flat, round piece of metal or plastic used primarily as a medium of exchange or legal tender. They are standardized in weight, and produced in quantities at a mint in order to facilitate trade. They are most often issued by a government, Coins are usually metal or alloy, or sometimes made of synthetic materials. Coins made of metal are stored in large quantities as bullion coins. Other coins are used as money in transactions, circulating alongside banknotes. Usually the highest value coin in circulation is less than the lowest-value note. In the last hundred years, the value of circulation coins has occasionally been lower than the value of the metal they contain. Exceptions to the rule of face value being higher than content value also occur for some bullion coins made of copper, silver, or gold, while the Eagle, Maple Leaf, and Sovereign coins have nominal face values, the Krugerrand does not. The first coins were developed independently in Iron Age Anatolia and Archaic Greece, India, Coins spread rapidly in the 6th and 5th centuries BCE, throughout Greece and Persia, and further to the Balkans. Standardized Roman currency was used throughout the Roman Empire, important Roman gold and silver coins were continued into the Middle Ages. Fiat money first arose in medieval China, with the paper money. Early paper money was introduced in Europe in the later Middle Ages, the penny was minted as a silver coin until the 17th century. The first circulating United States coins were cents, produced in 1793, Coins were an evolution of currency systems of the Late Bronze Age, where standard-sized ingots, and tokens such as knife money, were used to store and transfer value. In the late Chinese Bronze Age, standardized cast tokens were made and these were replicas in bronze of earlier Chinese currency, cowrie shells, so they were named Bronze Shell. According to Aristotle and Pollux, the first issuer of coins was Hermodike of Kyme The earliest coins are associated with Iron Age Anatolia. Early electrum coins were not standardized in weight, and in their earliest stage may have been ritual objects, such as badges or medals, issued by priests. The first Lydian coins were made of electrum, a naturally occurring alloy of silver, most of the early Lydian coins include no writing, only an image of a symbolic animal. Anatolian Artemis was the Πὀτνια Θηρῶν, whose symbol was the stag, a small percentage of early Lydian/Greek coins have a legend
9.
Silver
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Silver is a metallic element with symbol Ag and atomic number 47. The symbol Ag stems from Latin argentum, derived from the Greek ὰργὀς, a soft, white, lustrous transition metal, it exhibits the highest electrical conductivity, thermal conductivity, and reflectivity of any metal. The metal is found in the Earths crust in the pure, free form, as an alloy with gold and other metals. Most silver is produced as a byproduct of copper, gold, lead, Silver is more abundant than gold, but it is much less abundant as a native metal. Its purity is measured on a per mille basis, a 94%-pure alloy is described as 0.940 fine. As one of the seven metals of antiquity, silver has had a role in most human cultures. Silver has long valued as a precious metal. Silver metal is used in many premodern monetary systems in bullion coins, Silver is used in numerous applications other than currency, such as solar panels, water filtration, jewelry, ornaments, high-value tableware and utensils, and as an investment medium. Silver is used industrially in electrical contacts and conductors, in specialized mirrors, window coatings, Silver compounds are used in photographic film and X-rays. Dilute silver nitrate solutions and other compounds are used as disinfectants and microbiocides, added to bandages and wound-dressings, catheters. Silver is similar in its physical and chemical properties to its two neighbours in group 11 of the periodic table, copper and gold. This distinctive electron configuration, with an electron in the highest occupied s subshell over a filled d subshell. Silver is a soft, ductile and malleable transition metal. Silver crystallizes in a cubic lattice with bulk coordination number 12. Unlike metals with incomplete d-shells, metallic bonds in silver are lacking a covalent character and are relatively weak and this observation explains the low hardness and high ductility of single crystals of silver. Silver has a brilliant white metallic luster that can take a polish. Protected silver has greater optical reflectivity than aluminium at all wavelengths longer than ~450 nm, at wavelengths shorter than 450 nm, silvers reflectivity is inferior to that of aluminium and drops to zero near 310 nm. The electrical conductivity of silver is the greatest of all metals, greater even than copper, during World War II in the US,13540 tons of silver were used in electromagnets for enriching uranium, mainly because of the wartime shortage of copper
10.
Gold
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Gold is a chemical element with symbol Au and atomic number 79. In its purest form, it is a bright, slightly yellow, dense, soft, malleable. Chemically, gold is a metal and a group 11 element. It is one of the least reactive chemical elements and is solid under standard conditions, Gold often occurs in free elemental form, as nuggets or grains, in rocks, in veins, and in alluvial deposits. It occurs in a solid solution series with the element silver and also naturally alloyed with copper. Less commonly, it occurs in minerals as gold compounds, often with tellurium, golds atomic number of 79 makes it one of the higher numbered, naturally occurring elements. It is thought to have produced in supernova nucleosynthesis, from the collision of neutron stars. Because the Earth was molten when it was formed, almost all of the present in the early Earth probably sank into the planetary core. Gold is resistant to most acids, though it does dissolve in aqua regia, a mixture of acid and hydrochloric acid. Gold also dissolves in solutions of cyanide, which are used in mining and electroplating. Gold dissolves in mercury, forming amalgam alloys, but this is not a chemical reaction, as a precious metal, gold has been used for coinage, jewelry, and other arts throughout recorded history. A total of 186,700 tonnes of gold is in existence above ground, the world consumption of new gold produced is about 50% in jewelry, 40% in investments, and 10% in industry. Gold is also used in infrared shielding, colored-glass production, gold leafing, certain gold salts are still used as anti-inflammatories in medicine. As of 2014, the worlds largest gold producer by far was China with 450 tonnes, Gold is cognate with similar words in many Germanic languages, deriving via Proto-Germanic *gulþą from Proto-Indo-European *ǵʰelh₃-. The symbol Au is from the Latin, aurum, the Latin word for gold, the Proto-Indo-European ancestor of aurum was *h₂é-h₂us-o-, meaning glow. This word is derived from the root as *h₂éu̯sōs, the ancestor of the Latin word Aurora. This etymological relationship is presumably behind the frequent claim in scientific publications that aurum meant shining dawn, Gold is the most malleable of all metals, a single gram can be beaten into a sheet of 1 square meter, and an avoirdupois ounce into 300 square feet. Gold leaf can be thin enough to become semi-transparent
11.
Barclays
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Barclays /ˈbɑːrkliz/ is a British multinational banking and financial services company headquartered in London. It is a bank with operations in retail, wholesale and investment banking, as well as wealth management, mortgage lending. It has operations in over 50 countries and territories and has around 48 million customers, Barclays is organised into four core businesses, Personal & Corporate, Barclaycard, Investment Banking and Africa. Barclays traces its origins to a banking business established in the City of London in 1690. James Barclay became a partner in the business in 1736, in 1896 several banks in London and the English provinces, including Backhouses Bank and Gurneys Bank, united as a joint-stock bank under the name Barclays and Co. Over the following decades Barclays expanded to become a nationwide bank, in 1967, Barclays deployed the worlds first cash dispenser. Barclays has a listing on the London Stock Exchange and is a constituent of the FTSE100 Index. It has a listing on the New York Stock Exchange. According to a 2011 paper by Vitali et al, Barclays traces its origins back to 1690 when John Freame, a Quaker, and Thomas Gould started trading as goldsmith bankers in Lombard Street, London. The name Barclays became associated with the business in 1736, when James Barclay, in 1728 the bank moved to 54 Lombard Street, identified by the Sign of the Black Spread Eagle, which in subsequent years would become a core part of the banks visual identity. In 1896 several banks in London and the English provinces, notably Backhouses Bank of Darlington and Gurneys Bank of Norwich, united under the banner of Barclays, between 1905 and 1916 Barclays extended its branch network by making acquisitions of small English banks. In 1925 the Colonial Bank, National Bank of South Africa, in 1938 Barclays acquired the first Indian exchange bank, the Central Exchange Bank of India, which had opened in London in 1936 with the sponsorship of Central Bank of India. In May 1958, Barclays was the first UK bank to appoint a female bank manager, hilda Harding managed Barclays Hanover Square branch in London until her retirement in 1970. In 1965, Barclays established a US affiliate, Barclays Bank of California in San Francisco, Barclays launched the first credit card in the UK, Barclaycard, in 1966. On 27 June 1967, Barclays deployed the worlds first cash machine, the British actor Reg Varney was the first person to use the machine. In 1969, a merger with Martins Bank and Lloyds Bank was blocked by the Monopolies and Mergers Commission. Also that year, the British Linen Bank subsidiary was sold to the Bank of Scotland in exchange for a 25% stake, Barclays DCO changed its name to Barclays Bank International in 1971. In August 1975, following the secondary banking crash, Barclays acquired Mercantile Credit Company, in 1980, Barclays Bank International expanded its business to include commercial credit and took over American Credit Corporation, renaming it Barclays American Corporation
12.
Royal Bank of Canada
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The Royal Bank of Canada is a Canadian multinational financial services company and the largest bank in Canada. The bank serves over 16 million clients and has 80,000 employees worldwide, the company corporate headquarters are located in Toronto, Ontario. The bank was founded in 1864 in Halifax, Nova Scotia, RBC Bank was the U. S. banking subsidiary with 439 branches across six states in the Southeast, which served more than a million customers. RBC also has 127 branches across seventeen countries in the Caribbean, RBC Capital Markets is RBCs worldwide investment and corporate banking subsidiary, while the investment brokerage firm is known as RBC Dominion Securities. Investment banking services are provided through RBC Bank and the focus is on middle market clients. In 2011, RBC was the largest Canadian company by revenue, and was ranked at #50 in the 2013 Forbes Global 2000 listing. The company has operations in Canada, and 40 other countries and had US$673.2 billion of assets under management in 2014, by 1869 the Merchants Bank was officially incorporated and received its federal charter in the same year. During the 1870s and 1880s the bank expanded into the other Maritime Provinces, when both the Newfoundland Commercial Bank and Union Bank of Newfoundland collapsed on 10 December 1894, the Merchants Bank expanded to Newfoundland in 31 January 1895. As the bank grew executives changed its name to reflect its growth, in 1901, the Merchants Bank of Halifax changed its name to the Royal Bank of Canada. The centre of the Canadian financial industry had moved from Halifax to Montreal, in 1910, RBC merged with the Union Bank of Halifax. In the same year it built a branch in Winnipeg, Manitoba—designed by Carrère and Hastings. To improve its position in Ontario, RBC merged with Traders Bank of Canada in 1912 and in 1917 RBC merged with Quebec Bank, Union Bank of Canada had moved its headquarters to Winnipeg in 1912, and had built a strong presence in the Prairies. In 1935, RBC merged with Crown Saving, s and Loan Co. merged with Industrial Mortgage & Trust Co, RBC installed its first computer in 1961, the first in Canadian banking. In the 1960s, RBC Insurance was created, in 1968, it merged with Ontario Loan and Debenture Company. In 1993, RBC merged with Royal Trust, in 1998, RBC acquired Security First Network Bank in Atlanta—the first pure Internet bank. In 2000, RBC merged merchant credit/debit card acquiring business with BMO Bank of Montreals to form Moneris Solutions, in 2013, RBC completed the acquisition of the Canadian subsidiary of Ally Financial. RBC Insurance is the largest Canadian bank-owned insurance organization, with services to five million people. It provides life, health, travel, home and auto and reinsurance products as well as creditor,1882 - Merchants Bank of Halifax opened an office in Bermuda
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