Some Earlier Patterns in International Banking



The Euro-dollar market and the institutions it has spawned represent a unique phase of international banking development. There are, however, a number of periods since the Middle Ages when factors such as the growth of international trade and investment produced a variety of new banking institutions whose objectives, lending practices, market environment, sponsorship and structure were not at all dissimilar to the Euro-banks established in the 1960s and 1970s.


Commodity Price Money Market Foreign Bank Fifteenth Century Loan Loss 
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© Steven I. Davis 1980

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