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Finance
Finance is a field that deals with the study of investments. Which includes the dynamics of assets and liabilities over time under conditions of different degrees of uncertainty. Finance can also be defined as the science of money management. A key point in finance is the time value of money, which states that purchasing power of one unit of currency can vary over time. Finance aims to price assets based on their risk level and their expected rate of return. Finance can be broken into three different sub-categories: public finance, corporate finance and personal finance.
A bank is a financial intermediary that creates credit by lending money to a borrower, thereby creating a corresponding deposit on the bank’s balance sheet. Lending activities can be performed either directly or indirectly through capital markets. Due to their importance in the financial system and influence on national economies, banks are highly regulated in most countries. Most nations have institutionalized a system known as fractional reserve banking under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirementsbased on an international set of capital standards, known as the Basel Accords.
Banking in its modern sense evolved in the 14th century in the rich cities of Renaissance Italy but in many ways was a continuation of ideas and concepts of credit and lending that had their roots in the ancient world. In thehistory of banking, a number of banking dynasties — notably, the Medicis, the Fuggers, the Welsers, theBerenbergs and the Rothschilds — have played a central role over many centuries. The oldest existing retail bankis Monte dei Paschi di Siena, while the oldest existing merchant bank is Berenberg Bank.
Somers Point
Somers Point is a city in Atlantic County, New Jersey,United States. At the 2010 United States Census, the city’s population was 10,795,[10][11][12] reflecting a decline of 819 (-7.1%) from the 11,614 counted in the 2000 Census, which had in turn increased by 398 (+3.5%) from the 11,216 counted in the 1990 Census.[21]
The City of Somers Point is in the eastern part of Atlantic County, southwest of Atlantic City.
Somers Point was once known as the Somerset Plantation and its settlement started around 1693. The Somers Mansion, with a commanding view of Somers Point’s harbor, was built in 1725. Somers Point was designated as a port of entry in 1791 and remained one until it was abolished in 1915.[22][23]
Somers Point was originally incorporated as a borough by an act of the New Jersey Legislature on April 24, 1886, from portions of Egg Harbor Township, based on the results of a referendum held five days earlier. The borough was reincorporated on April 2, 1890, based on the previous day’s referendum. Somers Point was incorporated as a city on April 9, 1902, from all of Somers Point borough and additional portions of Egg Harbor Township.[24][25] The borough was named for John Somers.[26][27]