Private bank

Private bank

Private banks are banks that are not incorporated. A non-incorporated bank is owned by either an individual or a general partner(s) with limited partner(s). In any such case, the creditors can look to both the "entirety of the bank's assets" as well as the entirety of the sole-proprietor's/general-partners' assets.

These banks have a long tradition in Switzerland, dating back to at least the revocation of the Edict of Nantes (1685). However most have now become incorporated companies, so the term is rarely true anymore. There are relatively few private banks remaining in the U.S.; but there are a few such as Brown Brothers Harriman & Co., which is a general partnership with about 30 members. This is also true of private banks abroad, Reputable old banks like Hottinger & Cie are truly hard to find.

"Private banks" and "private banking" can also refer to non-government owned banks in general, in contrast to government-owned (or nationalized) banks, which were prevalent in communist, socialist and some social democratic ("liberal") states in the 20th century.

ee also

*Private banking
*Bank secrecy
*Offshore bank
*Swiss bank
*List of economics topics
*List of finance topics


Wikimedia Foundation. 2010.

Игры ⚽ Поможем сделать НИР

Look at other dictionaries:

  • private bank — ➔ bank1 * * * private bank UK US noun [C] BANKING ► a bank that provides financial advice and services for people who have a lot of money ► a bank that is owned by one person or by a small number of shareholders ► a bank that is not owned by a… …   Financial and business terms

  • private bank — noun : an unincorporated bank conducted by an individual or a partnership * * * private bank One carried on by fewer than ten persons • • • Main Entry: ↑bank * * * private bank, a bank conducted by an individual or group of individuals on an… …   Useful english dictionary

  • Private Bank — Eine private Bank ist eine Bank, deren Eigentümer nicht die Öffentliche Hand (Sparkassen, Landesbanken und Förderbanken) ist und die auch nicht als Genossenschaftsbank (Volksbanken, Raiffeisenbanken) organisiert ist. Sie bilden in Deutschland die …   Deutsch Wikipedia

  • private bank — bank owned by private groups whose liability is unlimited …   English contemporary dictionary

  • private bank — 1) A commercial bank owned by one person or a partnership (compare joint stock bank). Popular in 19th century Britain, they have been superseded by joint stock banks. They still exist in the USA. 2) A bank that is not a member of a clearing house …   Big dictionary of business and management

  • private bank — An unincorporated bank. 10 Am J2d Banks § 13 …   Ballentine's law dictionary

  • Citi Private Bank — Type Subsidiary of Citi Institutional Clients Group Industry Wealth Management Headquarters New York, USA …   Wikipedia

  • HSBC Private Bank (Suisse) — SA Rechtsform Aktiengesellschaft Gründung 1988 Sitz …   Deutsch Wikipedia

  • New York Private Bank & Trust — Corporation is a bank holding company headquartered in New York City. Howard Milstein is the Chairman, President Chief Executive Officer. As of early 2007, it had $17.3 billion in assets and was the 50th largest bank holding company in the United …   Wikipedia

  • New York Private Bank & Trust Corp. — New York Private Bank Trust Corporation is a bank holding company headquartered in New York City. As of early 2007, it had $17.3 billion in assets and was the 50th largest bank holding company in the United States. [cite web… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”