BankA bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Whereby banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional-reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities.
TuscanyTuscany (ˈtʌskəni ; Toscana tosˈkaːna) is a region in central Italy with an area of about and a population of about 3.8 million inhabitants. The regional capital is Florence (Firenze). Tuscany is known for its landscapes, history, artistic legacy, and its influence on high culture. It is regarded as the birthplace of the Italian Renaissance and of the foundations of the Italian language. The prestige established by the Tuscan dialect's use in literature by Dante Alighieri, Petrarch, Giovanni Boccaccio, Niccolò Machiavelli and Francesco Guicciardini led to its subsequent elaboration as the language of culture throughout Italy.
Italian RenaissanceThe Italian Renaissance (Rinascimento rinaʃʃiˈmento) was a period in Italian history covering the 15th and 16th centuries. The period is known for the initial development of the broader Renaissance culture that spread across Western Europe and marked the transition from the Middle Ages to modernity. Proponents of a "long Renaissance" argue that it started around the year 1300 and lasted until about 1600. In some fields, a Proto-Renaissance, beginning around 1250, is typically accepted.
UsuryUsury (ˈjuːʒəri) is the practice of making unethical or immoral monetary loans that unfairly enrich the lender. The term may be used in a moral sense—condemning taking advantage of others' misfortunes—or in a legal sense, where an interest rate is charged in excess of the maximum rate that is allowed by law. A loan may be considered usurious because of excessive or abusive interest rates or other factors defined by the laws of a state. Someone who practices usury can be called a usurer, but in modern colloquial English may be called a loan shark.
House of MediciThe House of Medici (ˈmɛdᵻtʃi , ˈmɛːditʃi) was an Italian banking family and political dynasty that first consolidated power in the Republic of Florence under Cosimo de' Medici, during the first half of the 15th century. The family originated in the Mugello region of Tuscany, and prospered gradually until it was able to fund the Medici Bank. This bank was the largest in Europe during the 15th century and facilitated the Medicis' rise to political power in Florence, although they officially remained citizens rather than monarchs until the 16th century.
