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Before the Public Banks: Innovation and Resilience by Charities in Fifteenth-Century Naples

In: Financial Innovation and Resilience

Author

Listed:
  • Rosalba Di Meglio

    (Università di Napoli Federico II)

Abstract

The origins of the two banks of S. Eligio and SS. Annunziata date back to medieval times. Both were originally two hospitals founded by lay confraternities composed of exponents of the bourgeoisie and the mercantile world. Each had a privileged relationship with the monarchy and great prestige in the city. Study of the sources related to the Annunziata show that like all medieval hospitals, the Annunziata attended to a multitude of recipients, delivering them diversified services according to their individual needs. Its archive shows the importance of the business surrounding the charity: through passive (payments) and active operations (use of deposits), it had all the features of a banking institution since the fifteenth century, features formalized more than a century later.

Suggested Citation

  • Rosalba Di Meglio, 2018. "Before the Public Banks: Innovation and Resilience by Charities in Fifteenth-Century Naples," Palgrave Studies in the History of Finance, in: Lilia Costabile & Larry Neal (ed.), Financial Innovation and Resilience, chapter 0, pages 55-70, Palgrave Macmillan.
  • Handle: RePEc:pal:psitcp:978-3-319-90248-7_3
    DOI: 10.1007/978-3-319-90248-7_3
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    Cited by:

    1. François R. Velde, 2018. "Neapolitan Banks in the Context of Early Modern Public Banks," Palgrave Studies in the History of Finance, in: Lilia Costabile & Larry Neal (ed.), Financial Innovation and Resilience, chapter 0, pages 201-241, Palgrave Macmillan.

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