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clearing

(Encyclopedia)clearing, in banking, the periodic settling of bankers' claims against each other, for which local banks establish clearinghouse associations. Clearinghouses are said to have existed in Florence by a....

draft, in banking

(Encyclopedia)draft, in banking, order by one party to another party to pay a stated sum to the person or firm in whose favor the draft is made. It is similar in form to the ordinary bank check. Often the drawer an...

Stiglitz, Joseph Eugene

(Encyclopedia)Stiglitz, Joseph Eugene, 1943–, American economist, b. Gary, Ind., Ph.D. Massachusetts Institute of Technology, 1967. He has taught at a number of educational institutions, including Stanford (1974�...

Wriston, Walter Bigelow

(Encyclopedia)Wriston, Walter Bigelow, 1919–2005, American banker, b. Middletown, Conn., grad. Wesleyan (B.A., 1941); Fletcher School, Tufts Univ. (M.A., 1942). Widely considered the most important and influentia...

Law, John

(Encyclopedia)Law, John, 1671–1729, Scottish financier in France, b. Edinburgh. After killing a man in a duel (1694) he fled to Amsterdam, where he studied banking. Returning to Scotland (1700), he proposed to Pa...

Laffitte, Jacques

(Encyclopedia)Laffitte, Jacques zhäk läfētˈ [key], 1767–1844, French banker and politician. He rose from poverty to become one of the wealthiest and most influential men in France. He was director (1809) and ...

Koivisto, Mauno Henrik

(Encyclopedia)Koivisto, Mauno Henrik mouˈnō hĕnˈrĭk koiˈvēstō [key], 1923–2017, Finnish politician. He was director of the Helsinki Workers' Savings Bank (1959–68) and then governor of the Bank of Finla...

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