148:
1364:
1276:
1359:
999:
1019:
32:
1009:
1112:
In other countries, the concept is less relevant as there was no regulatory distinction between investment banks and commercial banks. Thus, banks of a very large size tend to operate as universal banks, while smaller firms specialised as commercial banks or as investment banks. This is especially
1108:
of 1933. In both countries, however, since the 1980s the regulatory barrier to the combination of investment banks and commercial banks has largely been removed, and a number of universal banks have emerged in both jurisdictions.
1085:. These are also called full-service financial firms, although there can also be full-service investment banks which provide wealth and asset management, trading, underwriting, researching as well as financial advisory.
1140:, the director of a Berlin bank, argued that the German universal banking system possessed beneficial characteristics that allowed it to efficiently provide inexpensive capital to industry and promote growth.
1124:
often coexist, but can exist independently. The provision of many services by universal banks can lead to long-term relationships between universal banks and their customers.
1438:
1137:
1297:
1331:
639:
505:
96:
68:
1409:
75:
1048:
115:
212:
49:
1144:
also advanced the hypothesis that universal banking was critical to
Germany's industrialization. More recently,
82:
796:
547:
53:
950:
893:
1136:, the U.S. Monetary Commission wanted to understand the major financial systems of the world. A treatise by
920:
297:
64:
741:
1197:
701:
629:
461:
187:
604:
439:
1245:
1012:
554:
473:
1402:
1253:
801:
444:
232:
42:
1433:
1141:
1105:
1252:. Examples of pure investment banks generally do not exist except in America, and include the
1041:
975:
736:
674:
634:
493:
272:
262:
89:
1213:
898:
873:
751:
711:
706:
574:
363:
312:
242:
222:
8:
1443:
965:
791:
781:
731:
669:
378:
247:
192:
1383:
1395:
1221:
1114:
1078:
940:
915:
811:
806:
694:
679:
654:
619:
407:
227:
132:
1193:
1327:
1018:
853:
848:
689:
659:
594:
307:
19:
This article is about the concept. For the private bank operating in
California, see
1428:
1145:
1034:
1002:
930:
908:
888:
863:
726:
716:
624:
542:
1321:
1161:
1149:
1121:
1101:
1097:
1074:
1070:
970:
955:
945:
868:
858:
771:
721:
664:
644:
614:
589:
564:
478:
368:
358:
207:
182:
500:
1379:
1261:
1225:
1169:
1089:
1022:
935:
903:
843:
776:
761:
756:
684:
483:
466:
449:
353:
318:
287:
202:
147:
20:
1422:
1302:
1257:
1229:
1217:
1181:
1133:
1093:
980:
960:
883:
838:
609:
599:
579:
456:
267:
257:
237:
172:
162:
1281:
766:
569:
434:
373:
330:
292:
277:
197:
177:
1363:
1241:
1189:
1185:
1173:
925:
816:
786:
397:
282:
217:
167:
402:
1375:
1165:
1082:
1069:
which participates in many kinds of banking activities and is both a
515:
337:
1358:
31:
1237:
1205:
559:
392:
1233:
878:
649:
252:
1326:. Studies in Macroeconomic History. Cambridge University Press.
1096:, where historically there was a distinction drawn between pure
1249:
1201:
429:
537:
488:
1152:
1371:
1209:
1066:
746:
584:
510:
139:
1323:
Finance
Capitalism and Germany's Rise to Industrial Power
1177:
1271:
56:. Unsourced material may be challenged and removed.
1420:
1403:
1042:
1160:Notable examples of universal banks include
1439:Separation of investment and retail banking
1410:
1396:
1049:
1035:
379:Transaction (checking / current)
116:Learn how and when to remove this message
1315:
1313:
1421:
1319:
1104:. In the US, this was a result of the
1310:
1353:
1088:The concept is most relevant in the
1008:
54:adding citations to reliable sources
25:
13:
14:
1455:
1362:
1357:
1274:
1017:
1007:
998:
997:
146:
30:
41:needs additional citations for
1290:
797:Strategic financial management
1:
1267:
951:Sustainable development goals
1382:. You can help Knowledge by
7:
1155:
1077:as well as providing other
10:
1460:
1352:
1127:
702:Fractional-reserve banking
630:Enterprise risk management
18:
1113:true of countries with a
605:Diversification (finance)
555:Automated teller machine
1254:Bank of New York Mellon
802:Stress test (financial)
1378:-related article is a
1176:of the United States;
1142:Alexander Gerschenkron
1120:Universal banking and
1306:. September 18, 2008.
1134:1907 financial crisis
976:Too connected to fail
737:Investment management
635:Environmental finance
494:Correspondent account
188:Community development
1298:"Is There a Future?"
1214:Lloyds Banking Group
1117:banking tradition.
1115:European Continental
874:Exchange traded fund
752:Mathematical finance
712:Fundamental analysis
707:Full-reserve banking
313:Bank holding company
223:Export credit agency
131:Part of a series on
50:improve this article
1320:Fohlin, C. (2007).
966:Time value of money
792:Statistical finance
782:Sustainable finance
732:Investment advisory
374:Time deposit (Bond)
1222:Standard Chartered
1106:Glass–Steagall Act
1079:financial services
941:Security (finance)
916:History of banking
812:Structured product
807:Structured finance
620:Economic expansion
133:financial services
1391:
1390:
1333:978-1-139-46154-2
1059:
1058:
854:Corporate finance
849:Capital structure
824:
823:
595:Corporate finance
415:
414:
126:
125:
118:
100:
1451:
1412:
1405:
1398:
1366:
1361:
1354:
1344:
1343:
1341:
1340:
1317:
1308:
1307:
1294:
1284:
1279:
1278:
1277:
1198:Société Générale
1146:Emory University
1102:commercial banks
1098:investment banks
1051:
1044:
1037:
1021:
1011:
1010:
1001:
1000:
931:Personal finance
864:Equity (finance)
727:Impact investing
717:Growth investing
625:Enterprise value
532:
531:
343:
342:
298:Savings and loan
150:
128:
127:
121:
114:
110:
107:
101:
99:
65:"Universal bank"
58:
34:
26:
1459:
1458:
1454:
1453:
1452:
1450:
1449:
1448:
1419:
1418:
1417:
1416:
1350:
1348:
1347:
1338:
1336:
1334:
1318:
1311:
1296:
1295:
1291:
1280:
1275:
1273:
1270:
1194:Crédit Agricole
1162:Bank of America
1158:
1150:Caroline Fohlin
1130:
1122:private banking
1075:investment bank
1071:commercial bank
1055:
990:
989:
971:Too big to fail
956:Systematic risk
869:Ethical banking
859:Cost of capital
834:
826:
825:
772:Private banking
742:Islamic banking
722:Hedge (finance)
645:Ethical banking
615:Economic bubble
590:Climate finance
565:Bank regulation
529:
521:
520:
479:Instant payment
425:
417:
416:
340:
323:
322:
158:
122:
111:
105:
102:
59:
57:
47:
35:
24:
17:
12:
11:
5:
1457:
1447:
1446:
1441:
1436:
1431:
1415:
1414:
1407:
1400:
1392:
1389:
1388:
1367:
1346:
1345:
1332:
1309:
1288:
1287:
1286:
1285:
1269:
1266:
1262:Morgan Stanley
1226:United Kingdom
1170:JPMorgan Chase
1157:
1154:
1132:Following the
1129:
1126:
1090:United Kingdom
1063:universal bank
1057:
1056:
1054:
1053:
1046:
1039:
1031:
1028:
1027:
1026:
1025:
1015:
1005:
992:
991:
988:
987:
984:
983:
978:
973:
968:
963:
958:
953:
948:
943:
938:
936:Public finance
933:
928:
923:
918:
913:
912:
911:
906:
901:
896:
891:
881:
876:
871:
866:
861:
856:
851:
846:
844:Bond (finance)
841:
835:
833:Related topics
832:
831:
828:
827:
822:
821:
820:
819:
814:
809:
804:
799:
794:
789:
784:
779:
777:Sustainability
774:
769:
764:
762:Money creation
759:
757:Mobile banking
754:
749:
744:
739:
734:
729:
724:
719:
714:
709:
704:
699:
698:
697:
692:
687:
682:
677:
672:
667:
662:
657:
647:
642:
637:
632:
627:
622:
617:
612:
607:
602:
597:
592:
587:
582:
577:
572:
567:
562:
557:
552:
551:
550:
545:
530:
527:
526:
523:
522:
519:
518:
513:
508:
503:
498:
497:
496:
486:
481:
476:
471:
470:
469:
464:
454:
453:
452:
447:
437:
432:
426:
424:Funds transfer
423:
422:
419:
418:
413:
412:
411:
410:
405:
400:
395:
387:
386:
382:
381:
377:
376:
371:
366:
361:
356:
354:Christmas club
348:
347:
341:
329:
328:
325:
324:
319:Lists of banks
316:
315:
310:
305:
300:
295:
290:
285:
280:
275:
273:Postal savings
270:
265:
260:
255:
250:
248:Mutual savings
245:
240:
235:
230:
225:
220:
215:
210:
205:
200:
195:
190:
185:
180:
175:
170:
165:
159:
157:Types of banks
156:
155:
152:
151:
143:
142:
136:
135:
124:
123:
38:
36:
29:
21:Universal Bank
15:
9:
6:
4:
3:
2:
1456:
1445:
1442:
1440:
1437:
1435:
1434:Banking terms
1432:
1430:
1427:
1426:
1424:
1413:
1408:
1406:
1401:
1399:
1394:
1393:
1387:
1385:
1381:
1377:
1373:
1368:
1365:
1360:
1356:
1355:
1351:
1335:
1329:
1325:
1324:
1316:
1314:
1305:
1304:
1303:The Economist
1299:
1293:
1289:
1283:
1272:
1265:
1263:
1259:
1258:Goldman Sachs
1255:
1251:
1247:
1243:
1239:
1235:
1231:
1230:Deutsche Bank
1227:
1223:
1219:
1218:NatWest Group
1215:
1211:
1207:
1203:
1199:
1195:
1191:
1187:
1183:
1182:Credit Suisse
1179:
1175:
1171:
1167:
1163:
1153:
1151:
1147:
1143:
1139:
1138:Jakob Riesser
1135:
1125:
1123:
1118:
1116:
1110:
1107:
1103:
1099:
1095:
1094:United States
1091:
1086:
1084:
1080:
1076:
1072:
1068:
1065:is a type of
1064:
1052:
1047:
1045:
1040:
1038:
1033:
1032:
1030:
1029:
1024:
1020:
1016:
1014:
1006:
1004:
996:
995:
994:
993:
986:
985:
982:
981:Watered stock
979:
977:
974:
972:
969:
967:
964:
962:
961:Systemic risk
959:
957:
954:
952:
949:
947:
944:
942:
939:
937:
934:
932:
929:
927:
924:
922:
921:List of banks
919:
917:
914:
910:
907:
905:
902:
900:
897:
895:
892:
890:
887:
886:
885:
882:
880:
877:
875:
872:
870:
867:
865:
862:
860:
857:
855:
852:
850:
847:
845:
842:
840:
839:Asset pricing
837:
836:
830:
829:
818:
815:
813:
810:
808:
805:
803:
800:
798:
795:
793:
790:
788:
785:
783:
780:
778:
775:
773:
770:
768:
765:
763:
760:
758:
755:
753:
750:
748:
745:
743:
740:
738:
735:
733:
730:
728:
725:
723:
720:
718:
715:
713:
710:
708:
705:
703:
700:
696:
693:
691:
688:
686:
683:
681:
678:
676:
673:
671:
668:
666:
663:
661:
658:
656:
653:
652:
651:
648:
646:
643:
641:
638:
636:
633:
631:
628:
626:
623:
621:
618:
616:
613:
611:
610:Eco-investing
608:
606:
603:
601:
600:Disinvestment
598:
596:
593:
591:
588:
586:
583:
581:
580:Capital asset
578:
576:
573:
571:
568:
566:
563:
561:
558:
556:
553:
549:
546:
544:
541:
540:
539:
536:
535:
534:
533:
525:
524:
517:
514:
512:
509:
507:
504:
502:
499:
495:
492:
491:
490:
487:
485:
482:
480:
477:
475:
472:
468:
465:
463:
460:
459:
458:
455:
451:
448:
446:
443:
442:
441:
438:
436:
433:
431:
428:
427:
421:
420:
409:
406:
404:
401:
399:
396:
394:
391:
390:
389:
388:
384:
383:
380:
375:
372:
370:
367:
365:
362:
360:
357:
355:
352:
351:
350:
349:
345:
344:
339:
336:
332:
327:
326:
321:
320:
314:
311:
309:
306:
304:
301:
299:
296:
294:
291:
289:
286:
284:
281:
279:
276:
274:
271:
269:
266:
264:
263:Participation
261:
259:
256:
254:
251:
249:
246:
244:
243:Middle market
241:
239:
236:
234:
231:
229:
226:
224:
221:
219:
216:
214:
211:
209:
206:
204:
201:
199:
196:
194:
191:
189:
186:
184:
181:
179:
176:
174:
173:Bulge bracket
171:
169:
166:
164:
161:
160:
154:
153:
149:
145:
144:
141:
138:
137:
134:
130:
129:
120:
117:
109:
98:
95:
91:
88:
84:
81:
77:
74:
70:
67: –
66:
62:
61:Find sources:
55:
51:
45:
44:
39:This article
37:
33:
28:
27:
22:
1384:expanding it
1369:
1349:
1337:. Retrieved
1322:
1301:
1292:
1282:Banks portal
1159:
1131:
1119:
1111:
1087:
1062:
1060:
894:participants
767:Pension fund
575:Asset growth
570:Bank secrecy
445:Bill payment
364:Money-market
334:
317:
302:
198:Credit union
112:
106:January 2009
103:
93:
86:
79:
72:
60:
48:Please help
43:verification
40:
16:Type of bank
1242:Netherlands
1190:BNP Paribas
1186:Switzerland
1174:Wells Fargo
926:Market risk
817:Toxic asset
787:Speculation
675:engineering
213:Development
193:Cooperative
1444:Bank stubs
1423:Categories
1339:2023-10-29
1268:References
1148:economist
899:regulation
548:management
543:allocation
440:Electronic
233:Industrial
228:Investment
208:Depository
183:Commercial
76:newspapers
1376:insurance
1166:Citigroup
1083:insurance
879:Financial
670:economics
650:Financial
516:BRICS PAY
308:Wholesale
303:Universal
203:Custodian
1238:ING Bank
1206:Barclays
1156:Examples
1092:and the
1081:such as
1003:Category
695:services
680:forecast
655:analysis
560:Bad debt
346:Accounts
331:Accounts
268:Payments
258:Offshore
238:Merchant
163:Advising
1429:Banking
1240:of the
1234:Germany
1224:of the
1128:History
1073:and an
1013:Commons
690:planner
660:analyst
408:Prepaid
369:Savings
359:Deposit
293:Savings
278:Private
253:Neobank
178:Central
140:Banking
90:scholar
1330:
1260:, and
1250:Canada
1202:France
1172:, and
1023:Portal
946:Shares
909:system
889:market
450:Mobile
430:Cheque
398:Credit
333:
288:Retail
283:Public
218:Direct
92:
85:
78:
71:
63:
1370:This
665:asset
538:Asset
528:Terms
489:SWIFT
403:Debit
385:Cards
338:Cards
97:JSTOR
83:books
1380:stub
1374:and
1372:bank
1328:ISBN
1220:and
1210:HSBC
1196:and
1180:and
1100:and
1067:bank
904:risk
747:Loan
685:plan
585:Cash
511:SPFS
506:CIPS
484:Giro
462:RTGS
457:Wire
435:Card
168:Banq
69:news
1248:of
1246:RBC
1232:of
1200:of
1184:of
1178:UBS
884:law
640:ESG
501:CLS
474:ACH
393:ATM
52:by
1425::
1312:^
1300:.
1264:.
1256:,
1244:;
1236:;
1228:;
1216:,
1212:,
1208:,
1204:;
1192:,
1188:;
1168:,
1164:,
1061:A
467:NS
1411:e
1404:t
1397:v
1386:.
1342:.
1050:e
1043:t
1036:v
335:·
119:)
113:(
108:)
104:(
94:·
87:·
80:·
73:·
46:.
23:.
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
