International Monetary Fund Home Page World Bank The World Bank is a United Nations international financial institution that provides loans[3] to developing countries for capital programs. The World Bank is a component of the World Bank Group, and a member of the United Nations Development Group. Composition[edit] World Bank[edit] The World Bank is composed of two institutions: World Bank Group[edit] The World Bank should not be confused with the United Nations World Bank Group, a member of the United Nations Economic and Social Council, and a family of five international organizations that make leveraged loans to poor countries which is comprised of the:[6] History[edit] The World Bank was created at the 1944 Bretton Woods Conference, along with three other institutions, including the International Monetary Fund (IMF). Although many countries were represented at the Bretton Woods Conference, the United States and United Kingdom were the most powerful in attendance and dominated the negotiations.[8]:52–54 1944–1968[edit] 1968–1980[edit]
Intergovernmental organization An intergovernmental organization (or international governmental organization; IGO) is an organization composed primarily of sovereign states (referred to as member states), or of other intergovernmental organizations. Intergovernmental organizations are often called international organizations, although that term may also include international nongovernmental organization such as international nonprofit organizations or multinational corporations. Intergovernmental organizations are an important aspect of public international law. Intergovernmental organizations in a legal sense should be distinguished from simple groupings or coalitions of states, such as the G8 or the Quartet. Intergovernmental organizations must also be distinguished from treaties. Types and purposes[edit] Intergovernmental organizations differ in function, membership and membership criteria. Some organizations, such as NATO, have collective security or mutual defense provisions. Examples[edit] United Nations[edit]
Bank for International Settlements The Bank for International Settlements (BIS) is an international financial institution[2] owned by central banks which "fosters international monetary and financial cooperation and serves as a bank for central banks".[3] The BIS carries out its work through its meetings, programmes and through the Basel Process – hosting international groups pursuing global financial stability and facilitating their interaction. It also provides banking services, but only to central banks and other international organizations. It is based in Basel, Switzerland, with representative offices in Hong Kong and Mexico City. History[edit] BIS main building in Basel, Switzerland The BIS was established in 1930 by an intergovernmental agreement between Germany, Belgium, France, the United Kingdom, Italy, Japan, the United States, and Switzerland.[4][5] It opened its doors in Basel, Switzerland, on 17 May 1930. The BIS's original task of facilitating World War I reparation payments quickly became obsolete.
Human Development Reports (HDR) – United Nations Development Programme (UNDP) Central bank The primary function of a central bank is to manage the nation's money supply (monetary policy), through active duties such as managing interest rates, setting the reserve requirement, and acting as a lender of last resort to the banking sector during times of bank insolvency or financial crisis. Central banks usually also have supervisory powers, intended to prevent bank runs and to reduce the risk that commercial banks and other financial institutions engage in reckless or fraudulent behavior. Central banks in most developed nations are institutionally designed to be independent from political interference.[4][5] Still, limited control by the executive and legislative bodies usually exists.[6][7] The chief executive of a central bank is normally known as the Governor, President or Chairman. History[edit] Prior to the 17th century most money was commodity money, typically gold or silver. Bank of England[edit] The sealing of the Bank of England Charter (1694). Spread around the world[edit]
United Nations The United Nations (UN) is an intergovernmental organization established on 24 October 1945 to promote international co-operation. A replacement for the ineffective League of Nations, the organization was created following the Second World War to prevent another such conflict. At its founding, the UN had 51 member states; there are now 193. The UN Headquarters is situated in Manhattan, New York City and enjoys extraterritoriality. During the Second World War, US President Franklin D. The UN has six principal organs: the General Assembly (the main deliberative assembly); the Security Council (for deciding certain resolutions for peace and security); the Economic and Social Council (ECOSOC) (for promoting international economic and social co-operation and development); the Secretariat (for providing studies, information, and facilities needed by the UN); the International Court of Justice (the primary judicial organ); and the United Nations Trusteeship Council (inactive since 1994).
Fractional-reserve banking Fractional-reserve banking is the practice whereby a bank holds reserves in an amount equal to only a portion of the amount of its customers' deposits to satisfy potential demands for withdrawals. Reserves are held at the bank as currency, or as deposits reflected in the bank's accounts at the central bank. Because bank deposits are usually considered money in their own right, fractional-reserve banking permits the money supply to grow to a multiple (called the money multiplier) of the underlying reserves of base money originally created by the central bank.[1][2] Fractional-reserve banking is the current form of banking in all countries worldwide.[3] History[edit] Fractional-reserve banking predates the existence of governmental monetary authorities and originated many centuries ago in bankers' realization that generally not all depositors demand payment at the same time.[4] How it works[edit] In most legal systems, a bank deposit is not a bailment. Economic function[edit] Formula[edit]
UN - United Nations Federal Reserve System The Federal Reserve System (also known as the Federal Reserve, and informally as the Fed) is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, largely in response to a series of financial panics, particularly a severe panic in 1907.[2][3][4][5][6][7] Over time, the roles and responsibilities of the Federal Reserve System have expanded, and its structure has evolved.[3][8] Events such as the Great Depression were major factors leading to changes in the system.[9] The U.S. The authority of the Federal Reserve System is derived from statutes enacted by the U.S. Congress and the System is subject to congressional oversight. Purpose[edit] Current functions of the Federal Reserve System include:[12][25] Addressing the problem of bank panics[edit] Elastic currency[edit] One way to lessen the likelihood and the effect of bank runs is to have a money supply that can expand when money is needed. Emergencies[edit]
Food and Agriculture Organization The Food and Agriculture Organization of the United Nations (FAO; French: Organisation des Nations unies pour l'alimentation et l'agriculture, Italian: Organizzazione delle Nazioni Unite per l'Alimentazione e l'Agricoltura) is an agency of the United Nations that leads international efforts to defeat hunger. Serving both developed and developing countries, FAO acts as a neutral forum where all nations meet as equals to negotiate agreements and debate policy. FAO is also a source of knowledge and information, and helps developing countries and countries in transition modernize and improve agriculture, forestry and fisheries practices, ensuring good nutrition and food security for all. Its Latin motto, fiat panis, translates as "let there be bread". As of 8 August 2013[update], FAO has 194 member states, along with the European Union (a "member organization"), and the Faroe Islands and Tokelau, which are associate members.[1] History[edit] Structure and finance[edit] Budget[edit] Food[edit]
Rothschild family A house formerly belonging to the Viennese branch of the family (Schillersdorf Palace). Schloss Hinterleiten, one of the many palaces built by the Austrian Rothschild dynasty. Donated to charity by the family in 1905. Beatrice de Rothschild's villa on the Côte d'Azur, France The Rothschild family is a family descending from Mayer Amschel Rothschild, a court Jew to the German Landgraves of Hesse-Kassel, in the Free City of Frankfurt, who established his banking business in the 1760s.[1] Unlike most previous court Jews, Rothschild managed to bequeath his wealth, and established an international banking family through his five sons.[2] Five lines of the Austrian branch of the family have been elevated to Austrian nobility, being given five hereditary titles of Barons of the Habsburg Empire by Emperor Francis II in 1816. Family overview[edit] The first member of the family who was known to use the name "Rothschild" was Izaak Elchanan Rothschild, born in 1577. Families by country: Wine[edit]
FAO J. P. Morgan John Pierpont "J. P." Morgan (April 17, 1837 – March 31, 1913) was an American financier, banker, philanthropist and art collector who dominated corporate finance and industrial consolidation during his time. In 1892 Morgan arranged the merger of Edison General Electric and Thomson-Houston Electric Company to form General Electric. After financing the creation of the Federal Steel Company, he merged in 1901 with the Carnegie Steel Company and several other steel and iron businesses, including Consolidated Steel and Wire Company owned by William Edenborn, to form the United States Steel Corporation. Morgan died in Rome, Italy, in his sleep in 1913 at the age of 75, leaving his fortune and business to his son, John Pierpont "Jack" Morgan, Jr., and bequeathing his mansion and large book collections to The Morgan Library & Museum in New York. Childhood and education[edit] J. Career[edit] Early years and life[edit] J. J.P. After the 1893 death of Anthony Drexel, the firm was rechristened "J.