148-609: The House of Fugger ( German pronunciation: [ˈfʊɡɐ] ) is a German family that was historically a prominent group of European bankers , members of the fifteenth- and sixteenth-century mercantile patriciate of Augsburg , international mercantile bankers, and venture capitalists. Alongside the Welser family , the Fugger family controlled much of the European economy in the sixteenth century and accumulated enormous wealth. The Fuggers held
296-456: A Don Quixote -type dreamer and misadventurer), or the first Renaissance prince—an amoral Machiavellian politician who carried his family "to the European pinnacle of dynastic power" largely on the back of loans. Historians of the second half of the nineteenth century like Leopold von Ranke tended to criticize Maximilian for putting the interest of his dynasty above that of Germany, hampering
444-818: A backdoor for French interference in the Low Countries). Maximilian was elected King of the Romans on 16 February 1486 in Frankfurt-am-Main at his father's initiative and crowned on 9 April 1486 in Aachen . Much of the Austrian territories and Vienna were under the rule of King Matthias Corvinus of Hungary , as a result of the Austrian–Hungarian War (1477–1488) . Maximilian was now a king without lands. Matthias Corvinus offered Emperor Frederick and his son prince Maximilian,
592-412: A bank account is considered indispensable by most businesses and individuals. Non-banks that provide payment services such as remittance companies are normally not considered as an adequate substitute for a bank account. Banks issue new money when they make loans. In contemporary banking systems, regulators set a minimum level of reserve funds that banks must hold against the deposit liabilities created by
740-409: A bank varies from country to country. See the relevant country pages for more information. Under English common law , a banker is defined as a person who carries on the business of banking by conducting current accounts for their customers, paying cheques drawn on them and also collecting cheques for their customers. In most common law jurisdictions there is a Bills of Exchange Act that codifies
888-452: A central role over many centuries. The oldest existing retail bank is Banca Monte dei Paschi di Siena (founded in 1472), while the oldest existing merchant bank is Berenberg Bank (founded in 1590). Banking as an archaic activity (or quasi-banking ) is thought to have begun as early as the end of the 4th millennium BCE, to the 3rd millennia BCE. The present era of banking can be traced to medieval and early Renaissance Italy, to
1036-539: A consortium of German and Italian businessmen that loaned Charles V 850,000 florins (about 95,625 oz(t) or 2974 kg of gold) to procure his election as Holy Roman Emperor over Francis I of France . The Fuggers' contribution was 543,000 florins. In 1494, the Fuggers established their first public company. Jakob's aim was to establish a copper monopoly by opening foundries in Hohenkirchen and Fuggerau (named for
1184-565: A decision which today induces much scholarly discussion. Apart from balancing the Reichskammergericht with the Reichshofrat , this act of restructuring seemed to suggest that, as Westphal quoting Ortlieb, the "imperial ruler—independent of the existence of a supreme court—remained the contact person for hard pressed subjects in legal disputes as well, so that a special agency to deal with these matters could appear sensible" (as also shown by
1332-458: A decisive difference. In Italy, he gained the derisive nickname of "Massimiliano di pochi denari" (Maximilian the Moneyless). One particularly humiliating episode happened in 1508, with a force mustered largely from hereditary lands and with limited resources, the emperor decided to attack Venice. The diversionary force under Sixt Trautson were routed by Bartolomeo d'Alviano (Sixt Trautson himself
1480-588: A generous grant of funds from the Tyrolean Estates to invade Hungary with an army of around 17,000 men. Crossing the Raab River in late October, Maximilian encountered little resistance in Hungary, as the unprepared Vladislas was disinclined towards decisive action. Maximilian was joined by numerous Hungarian nobles and even magnates . Despite stiff resistance, the city was bombarded, with Maximilian personally directing
1628-530: A goldsmith. His fortune progressed, and by 1461, he was the twelfth richest man in Augsburg. He died in 1469. Jakob's eldest son, Ulrich, took over the business on his father's death, and in 1473 he provided new suits of clothes to Frederick, his son Maximilian I , and his suite on their journey to Trier to meet Charles the Bold of Burgundy and the betrothal of the young prince to Charles's daughter Maria. Thus began
SECTION 10
#17328372098861776-559: A great-grandson of Anton , was elevated to the rank of a Bavarian prince in 1913 with Carl Ernst Fürst Fugger von Glött ; the branch ended in the male line with his son Joseph-Ernst Fürst Fugger von Glött (1895–1981), husband of Princess Stephanie of Hohenzollern (1895–1975), his estate including the castle at Kirchheim in Schwaben (acquired in 1551 by Anton Fugger) being inherited by his sister Maria's (1894–1935) son, Albert Count von Arco-Zinneberg (b. 1932), whom he adopted, and who took on
1924-508: A heavy tendency towards wine, feasts and young women, which became evident during their trips in 1473–74. Even though he was still very young, the prince's skills and physical attractiveness made him the center everywhere he went. Although Frederick had forbidden the princes of the Empire from fighting with Maximilian in tournaments, Maximilian gave himself the necessary permission at the first chance he got. Frederick did not allow him to participate in
2072-562: A king they could dominate. The crown of Hungary thus fell to King Vladislaus II , who was deemed weaker in personality and also agreed to marry Beatrice. Tamás Bakócz , the Hungarian chancellor allied himself with Maximilian and helped him to circumvent the 1505 Diet which declared that no foreigner could be elected as King of Hungary. With money from Innsbruck and southern German towns, he raised enough cavalry and Landsknechte to campaign into Hungary itself. Despite Hungary's lower nobility,
2220-425: A large number of small to medium-sized institutions in its banking system. As of November 2009, China's top four banks have in excess of 67,000 branches ( ICBC :18000+, BOC :12000+, CCB :13000+, ABC :24000+) with an additional 140 smaller banks with an undetermined number of branches. Japan had 129 banks and 12,000 branches. In 2004, Germany, France, and Italy each had more than 30,000 branches – more than double
2368-643: A large scale, financing the purchase of shares in the Suez canal for the British government in 1875. The word bank was taken into Middle English from Middle French banque , from Old Italian banco , meaning "table", from Old High German banc, bank "bench, counter". Benches were used as makeshift desks or exchange counters during the Renaissance by Florentine bankers, who used to make their transactions atop desks covered by green tablecloths. The definition of
2516-486: A modern state. While it has been suggested that Maximilian displayed a class-based mentality that favoured the aristocrats (a modern historian who shares this viewpoint is Koenigsberger), recent studies suggest that, as evidenced by the court ordinance of 1482 (at this point, before Mary's death, threats to his rule seemed to have been eliminated) among others, he sought to promote "parvenus" who were beholden to himself (often either functionaries who had risen under Charles
2664-606: A near monopoly on the European copper market. This banking family replaced the Medici family who influenced all of Europe during the Renaissance . The Fuggers took over many of the Medicis' assets and their political power and influence. They were closely affiliated with the House of Habsburg whose rise to world power they financed. Unlike the citizenry of their hometown and most other trading patricians of German free imperial cities , such as
2812-486: A number of almshouses for needy citizens. By 1523, 52 houses had been built, and the Fuggerei had come into existence. It is still used today. Jakob died in 1525. He is considered to be one of the richest persons of all time, and today he is well known as Jakob Fugger "the rich". At its peak his wealth is estimated to be 2% of Europe's GDP. Jakob's successor was his nephew Anton Fugger , son of his elder brother Georg. Anton
2960-841: A promise to transfer territories as a gift in case of her death, but her plans were confounded. After Mary's death in a riding accident on 27 March 1482 near the Wijnendale Castle , Maximilian's aim was now to secure the inheritance to his and Mary's son, Philip the Handsome . According to Haemers and Sutch, the original marriage contract stipulated that Maximilian could not inherit her Burgundian lands if they had children. The Guinegate victory made Maximilian popular, but as an inexperienced ruler, he hurt himself politically by trying to centralize authority without respecting traditional rights and consulting relevant political bodies. The Belgian historian Eugène Duchesne comments that these years were among
3108-587: A protracted, multi-fronted war would leave him overextended though, Maximilian evacuated from Croatia (he had conquered the whole northern part of the country previously) and accepted the treaty with the Jagiellons. As the Treaty of Senlis had resolved French differences with the Holy Roman Empire, King Louis XII of France had secured borders in the north and turned his attention to Italy, where he made claims for
SECTION 20
#17328372098863256-429: A quality that historians call "unmatched" or "hitherto unimagined". To this image, new layers have been added by the works of later artists in the centuries following his death, both as continuation of deliberately crafted images developed by his program as well as development of spontaneous sources and exploration of actual historical events, creating what Elaine Tennant dubs the " Maximilian industry ". Maximilian
3404-574: A reconciliation and a reunited dynastic rule in the 1490. Because Tyrol had no law code at this time, the nobility freely expropriated money from the populace, which caused the court in Innsbruck to fester with corruption. After taking control, Maximilian instituted immediate financial reform. Gaining control of Tyrol for the Habsburgs was of strategic importance because it linked the Swiss Confederacy to
3552-503: A regular meeting place of the central government. The harsh suppression of the rebellions did have an unifying effect, in that provinces stopped behaving like separate entities each supporting a different lord. Helmut Koenigsberger opines that it was not the erratic leadership of Maximilian, who was brave but hardly understood the Netherlands, but the Estates' desire for the survival of
3700-516: A separate court), with his father until Frederick's death in 1493. Maximilian expanded the influence of the House of Habsburg through war and his marriage in 1477 to Mary of Burgundy , the ruler of the Burgundian State , heiress of Charles the Bold , though he also lost his family's original lands in today's Switzerland to the Swiss Confederacy . Through the marriage of his son Philip
3848-462: 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 requirements based on an international set of capital standards, the Basel Accords . Banking in its modern sense evolved in the fourteenth century in
3996-408: A threat to his imperial prerogatives and wanted to avoid direct confrontations with the princes on the matter. However, in his last years, mainly to secure election for Maximilian, he presided over the initial phase of reform. Maximilian though was more open to reform. From 1488 through his reign as sole ruler, he practiced a policy of brokerage, acting as the impartial judge between options suggested by
4144-399: A variety of different ways including interest, transaction fees and financial advice. Traditionally, the most significant method is via charging interest on the capital it lends out to customers. The bank profits from the difference between the level of interest it pays for deposits and other sources of funds, and the level of interest it charges in its lending activities. This difference
4292-692: A very profitable relationship between the Fugger family and the Habsburgs . With the help of their brother in Rome; Marx, Ulrich and his brother George handled remittances to the papal court of monies for the sale of indulgences and the procuring of Church benefices. From 1508 to 1515, they leased the Roman mint. Ulrich died in 1510. When the Fuggers made their first loan to the Archduke Sigismund in 1487, they took as security an interest in silver and copper mines in
4440-544: A warlike ruler), Maximilian has entered the public consciousness, at least in the German-speaking world, as "the last knight" ( der letzte Ritter ), especially since the eponymous poem by Anastasius Grün was published (although the nickname likely existed even in Maximilian's lifetime). Scholarly debates still discuss whether he was truly the last knight (either as an idealized medieval ruler leading people on horseback, or
4588-611: Is Prince Hubertus Fugger von Babenhausen who owns Jakob the Rich's former business seat, the Fuggerhäuser in Augsburg, as well as nearby Wellenburg Castle and the castle at Babenhausen, Bavaria (purchased by Anton Fugger in 1539 and today housing a museum on the family history); he is also co-owner of a small private bank, the Fürst Fugger Privatbank , in Augsburg. The branch Fugger von Glött , descendants of Johann Ernst,
Fugger family - Misplaced Pages Continue
4736-446: Is a bank regulation , which sets a framework within which a bank or depository institution must manage its balance sheet . The categorisation of assets and capital is highly standardised so that it can be risk weighted . After the financial crisis of 2007–2008 , regulators force banks to issue Contingent convertible bonds (CoCos). These are hybrid capital securities that absorb losses in accordance with their contractual terms when
4884-436: 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 . Whereas 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
5032-403: Is a list of the largest deals in history in terms of value with participation from at least one bank: Currently, commercial banks are regulated in most jurisdictions by government entities and require a special bank license to operate. Usually, the definition of the business of banking for the purposes of regulation is extended to include acceptance of deposits, even if they are not repayable to
5180-431: Is referred to as the spread between the cost of funds and the loan interest rate. Historically, profitability from lending activities has been cyclical and dependent on the needs and strengths of loan customers and the stage of the economic cycle . Fees and financial advice constitute a more stable revenue stream and banks have therefore placed more emphasis on these revenue lines to smooth their financial performance. In
5328-635: Is unknown, since both of his parents greatly favoured the Jews. In 1509, relying on the influence of Kunigunde , Maximilian's pious sister and the Cologne Dominicans, the anti-Jewish agitator Johannes Pfefferkorn was authorized by Maximilian to confiscate all offending Jewish books (including prayer books), except the Bible. The confiscations happened in Frankfurt, Bingen, Mainz and other German cities. Responding to
5476-508: The County of Tyrol and Duchy of Bavaria went to war in the late 15th century. Bavaria demanded money from Tyrol that had been loaned on the collateral of Tyrolean lands. In 1490, the two states demanded that Maximilian I step in to mediate the dispute. His Habsburg cousin, the childless Archduke Sigismund , was negotiating to sell Tyrol to their Wittelsbach rivals rather than let Emperor Frederick inherit it. Maximilian's charm and tact though led to
5624-565: The Duchy of Milan . In 1499–1500 he conquered it and drove the Sforza regent Lodovico il Moro into exile. This brought him into a potential conflict with Maximilian, who on 16 March 1494 had married Bianca Maria Sforza , a daughter of Galeazzo Maria Sforza , duke of Milan. However, Maximilian was unable to hinder the French from taking over Milan. The prolonged Italian Wars resulted in Maximilian joining
5772-705: The Federal Deposit Insurance Corporation (FDIC) as a regulator. However, for soundness examinations (i.e., whether a bank is operating in a sound manner), the Federal Reserve is the primary federal regulator for Fed-member state banks; the Office of the Comptroller of the Currency (OCC) is the primary federal regulator for national banks. State non-member banks are examined by the state agencies as well as
5920-631: The Great Depression , the U.S. Savings and Loan crisis in the 1980s and early 1990s, the Japanese banking crisis during the 1990s, and the sub-prime mortgage crisis in the 2000s. The 2023 global banking crisis is the latest of these crises: In March 2023, liquidity shortages and bank insolvencies led to three bank failures in the United States , and within two weeks, several of the world's largest banks failed or were shut down by regulators Assets of
6068-507: The Holy League to counter the French. His campaigns in Italy generally were not successful, and his progress there was quickly checked. Maximilian's Italian campaigns tend to be criticized for being wasteful and gaining him little. Despite the emperor's work in enhancing his army technically and organization-wise, due to financial difficulties, the forces he could muster were always too small to make
Fugger family - Misplaced Pages Continue
6216-521: The Siege of Neuss (1474–75), he was successful. Perhaps as preparation for his task in the Netherlands, in 1476, at the age of 17, in the name of his father, apparently Maximilian commanded a military campaign against Hungary—the first actual battlefield experience in his life (command responsibility was likely shared with more experienced generals though). The wedding between Maximilian and Mary took place on 19 August 1477. Maximilian's wife had inherited
6364-616: The Treaty of Senlis , with which Artois and Franche-Comté returned to Burgundian rule while Picardy was confirmed as French possession. The French also continued to keep the Duchy of Burgundy. Thus a large part of the Netherlands (known as the Seventeen Provinces ) stayed in the Habsburg patrimony. On 8 January 1488, using a similar 1373 French ordinance as the model, together with Philip, he issued
6512-684: The Tuchers , they never converted to Lutheranism , as presented in the Augsburg Confession , but rather remained with the Roman Catholic Church and thus close to the Habsburg emperors. Jakob Fugger "the Rich" was elevated to the nobility of the Holy Roman Empire in May 1511 and assumed the title Imperial Count of Kirchberg and Weissenhorn in 1514. Today, he is considered to be one of
6660-602: The Tyrol . This was the beginning of an extensive family involvement in mining and precious metals. The Fuggers also participated in mining operations in Silesia , and owned copper mines in Hungary . Their trade in spices, wool, and silk extended to almost all parts of Europe. Ulrich's youngest brother Jakob Fugger , born in 1459, was to become the most famous member of the dynasty. In 1498, he married Sibylla Artzt, Grand Burgheress to Augsburg,
6808-538: The Venetians . He proclaimed himself elected emperor in 1508 ( Pope Julius II later recognized this) at Trent , thus breaking the long tradition of requiring a papal coronation for the adoption of the Imperial title. Maximilian was the only surviving son of Frederick III, Holy Roman Emperor , and Eleanor of Portugal . Since his coronation as King of the Romans in 1486, he ran a double government, or Doppelregierung (with
6956-437: The brothers of Glymes–Bergen . In early 1486, he retook Mortaigne, l'Ecluse, Honnecourt and even Thérouanne, but the same thing like in 1479 happened—he lacked financial resources to exploit and keep his gains. Only in 1492, with a stable internal situation, he was able to reconquer and keep Franche-Comté and Arras on the pretext that the French had repudiated his daughter. In 1493, Maximilian and Charles VIII of France signed
7104-474: The slave trade from Africa to America , but was more successful in the spice trade and the importation of Hungarian cattle. Eventually, he was forced to renounce the Maestrazgo lease after 1542 and to give up the silver mines of Guadalcanal . In 1530 and 1531 the Fuggers held exclusive rights to trade through the strait of Magellan . While European trade with Asia through this route was thought to be possible,
7252-530: The 1474 war against Burgundy though and placed him under the care of the Bishop of Augsburg instead. The Duke of Burgundy, Charles the Bold , was the chief political opponent of Maximilian's father Frederick III. Frederick was concerned about Burgundy's expansionist tendencies on the western border of his Holy Roman Empire , and, to forestall military conflict, he attempted to secure the marriage of Charles' only daughter, Mary of Burgundy, to his son Maximilian. After
7400-474: The 15,000 branches in the United Kingdom. Between 1985 and 2018 banks engaged in around 28,798 mergers or acquisitions, either as the acquirer or the target company. The overall known value of these deals cumulates to around 5,169 bil. USD. In terms of value, there have been two major waves (1999 and 2007) which both peaked at around 460 bil. USD followed by a steep decline (−82% from 2007 until 2018). Here
7548-623: The 1512–1551 period, before being supplanted by the matricular system which allowed common burdens to be assessed at imperial as well as Kreis level. To create a rival for the Reichskammergericht , Maximilian established the Reichshofrat , which had its seat in Vienna. Unlike the Reichskammergericht , the Reichshofrat looked into criminal matters and even allowed the emperors the means to depose rulers who did not live up to expectations. Pavlac and Lott note that, during Maximilian's reign, this council
SECTION 50
#17328372098867696-507: The Austrians and his military expansion caused the deaths and sufferings of tens of thousands of people. Through an "unprecedented" image-building program, with the help of many notable scholars and artists, in his lifetime, the emperor—"the promoter, coordinator, and prime mover, an artistic impresario and entrepreneur with seemingly limitless energy and enthusiasm and an unfailing eye for detail"—had built for himself "a virtual royal self" of
7844-784: The Bold and then proved loyalty to Maximilian, or representatives of the mercantile elites), and at an alarming speed for the traditional elites. After the rebellions, concerning the aristocracy, although Maximilian punished few with death (unlike what he himself later described in Theuerdank ), their properties were largely confiscated and they were replaced with a new elite class loyal to the Habsburgs—among whom, there were noblemen who had been part of traditional high nobility but elevated to supranational importance only in this period. The most important of these were John III and Frederik of Egmont , Engelbrecht II of Nassau , Henry of Witthem and
7992-582: The Bold's campaigns (Mary had to pawn her jewels to obtain loans), he carried out a campaign against the French during 1478–1479 and reconquered Le Quesnoy , Conde and Antoing . He defeated the French forces at the Battle of Guinegate , in modern Enguinegatte , on 7 August 1479. Despite winning, Maximilian had to abandon the siege of Thérouanne and disband his army, either because the Netherlanders did not want him to become too strong or because his treasury
8140-619: The Court Chancery at Innsbruck competed with the Imperial Chancery (which was under the elector-archbishop of Mainz, the senior Imperial chancellor). By referring the political matters in Tyrol, Austria as well as Imperial problems to the Court Chancery, Maximilian gradually centralized its authority. The two chanceries became combined in 1502. Jan-Dirk Müller opines that this chancery became the decisive government institution since 1502. In 1496,
8288-522: The FDIC. National banks have one primary regulator – the OCC. Each regulatory agency has its own set of rules and regulations to which banks and thrifts must adhere. The Federal Financial Institutions Examination Council (FFIEC) was established in 1979 as a formal inter-agency body empowered to prescribe uniform principles, standards, and report forms for the federal examination of financial institutions. Although
8436-403: The FFIEC has resulted in a greater degree of regulatory consistency between the agencies, the rules and regulations are constantly changing. Maximilian I, Holy Roman Emperor Maximilian I (22 March 1459 – 12 January 1519) was King of the Romans from 1486 and Holy Roman Emperor from 1508 until his death in 1519. He was never crowned by the Pope, as the journey to Rome was blocked by
8584-403: The Fugger company was completely dissolved after the Thirty Years' War when Leopold Fugger returned the mines in Tyrol to the Habsburgs in 1657. The burial chapel of the Fuggers in St. Anne's Church, Augsburg of 1509 is the earliest example of Renaissance architecture in Germany with its memorial relief tablets in the style of Dürer in the choir of the church. It became the burial place of
8732-402: The Fuggers never developed this route. Decades later the Manila galleon would inaugurate trade with Asia across the Pacific with no Fugger involvement. After hard times under Anton's nephew and successor Johann Jakob , Anton's oldest son, Markus , carried on the business successfully, earning some 50,000,000 ducats between 1563 and 1641 from the production of mercury at Almadén alone, but
8880-744: The Habsburg-controlled Austrian lands, which facilitated some imperial geographic continuity. From 1497/98, Maximilian negotiated an inheritance contract with the last Meinhardin prince, Count Leonhard of Gorizia , which was intended to bring the County of Gorizia to the Habsburgs. However, it was only after a dispute with the Republic of Venice that was finally won that the Gorizia stadtholder Virgil von Graben , who had been won over with high honours, finally succeeded in realizing this contract. Beatrice of Naples , Matthias Corvinus's widow, initially supported Maximilian out of hope that he would marry her, but Maximilian did not want this liaison. The Hungarian magnates found Maximilian impressive, but they wanted
9028-402: The Habsburgs would inherit the throne on the extinction of Vladislaus's male line and the Austrian side also received 100,000 golden florins as war reparations. It was with Maximilian that the Croatians began to harbour a connection to the House of Habsburg. Except the two most powerful noblemen (Duke Ivanis Corvinus and Bernardin Frankopan), the Croatian nobility wanted him as King. Worrying that
SECTION 60
#17328372098869176-583: The Handsome to eventual queen Joanna of Castile in 1496, Maximilian helped to establish the Habsburg dynasty in Spain , which allowed his grandson Charles to hold the thrones of both Castile and Aragon . The historian Thomas A. Brady Jr. describes him as "the first Holy Roman Emperor in 250 years who ruled as well as reigned" and also, the "ablest royal warlord of his generation". Nicknamed "Coeur d'acier" ("Heart of steel") by Olivier de la Marche and later historians (either as praise for his courage and soldierly qualities or reproach for his ruthlessness as
9324-612: The Holy Roman Empire. Jewish policy under Maximilian fluctuated greatly, usually influenced by financial considerations and the emperor's vacillating attitude when facing opposing views. In 1496, Maximilian issued a decree which expelled all Jews from Styria and Wiener Neustadt . Between 1494 and 1510, he authorized no less than thirteen expulsions of Jews in return of sizeable fiscal compensations from local government (The expelled Jews were allowed to resettle in Lower Austria. Buttaroni comments that this inconsistency showed that even Maximilian himself did not believe his expulsion decision
9472-476: The Hungarian civil war, new possibilities were opened for Maximilan. From July 1490, Maximilian began a series of short sieges that reconquered cities and fortresses that his father had lost in Austria. Maximilian entered Vienna without siege, already evacuated by the Hungarians, in August 1490. He was injured while attacking the citadel guarded by a garrison of 400 Hungarians troops who twice repelled his forces, but after some days they surrendered. In addition,
9620-503: The Jewish books, especially the Talmud . Reuchlin's arguments seemed to leave an impression on the emperor (who followed his advice, against the recommendation of his own commission), who gradually developed an intellectual interest in the Talmud and other Jewish books. Maximilian later urged the Hebraist Petrus Galatinus to defend Reuchlin's position. Galatinus dedicated his work De Arcanis Catholicae Veritatis , which provided 'a literary "threshold" where Jews and gentiles might meet', to
9768-665: The Low Countries and more flexible as a politician than Maximilian, while also being a capable general. By 1492, rebellions were completely suppressed. Maximilian revoked the Great Privilege and established a strong ducal monarchy undisturbed by particularism. But he would not reintroduce Charles the Bold's centralizing ordinances. Since 1489 (after his departure), the government under Albert of Saxony had made more efforts in consulting representative institutions and showed more restraint in subjugating recalcitrant territories. Notables who had previously supported rebellions returned to city administrations. The Estates General continued to develop as
9916-464: The Low Countries with foreign armies, in 1513, at the head of Henry VIII 's army, Maximilian gained a victory against the French at the Battle of the Spurs , at little cost to himself or his daughter (in fact according to Margaret, the Low Countries got a profit of one million of gold from supplying the English army). For the sake of his grandson Charles's Burgundian lands, he ordered Thérouanne's walls to be demolished (the stronghold had often served as
10064-416: The Ordinance of Admiralty, that organized the Admiralty as a state institution and strove to centralize maritime authority (this was a departure from the policy of Philip the Good, whose 1458 ordinance tried to restore maritime order by decentralizing power). This was the beginning of the Dutch navy , although initially the policy faced opposition and unfavourable political climate, which only improved with
10212-438: The Pope to rescind or amend the prohibition on the levying of interest . The imperial fiscal and governmental authorities in Nuremberg brought action against him and other merchants in an attempt to halt their monopolistic practices. In 1511, Jakob deposited 15,000 florins as an endowment for some almshouses . In 1514, he bought up part of Augsburg and in 1516 came to an agreement with the city that he would build and provide
10360-406: The UK, for example, the Financial Services Authority licenses banks, and some commercial banks (such as the Bank of Scotland ) issue their own banknotes in addition to those issued by the Bank of England , the UK government's central bank. Banking law is based on a contractual analysis of the relationship between the bank (defined above) and the customer – defined as any entity for which
10508-462: The appointment of Philip of Burgundy-Beveren in 1491. A permanent navy only took shape after 1555 under the governorship of his granddaughter Mary of Hungary. In 1493, Frederick III died, thus Maximilian I became de facto leader of the Holy Roman Empire. He decided to transfer power to the 15-year-old Philip. During the time in the Low Countries, he contracted such emotional problems that except for rare, necessary occasions, he would never return to
10656-447: The artillery, and eventually captured. This resulted in a disgraceful scene of looting and slaughter that Maximilian and his officers were unable to prevent. The next day became a turning point in Maximilian's campaign, his mercenaries openly mutinied due to the prohibition of looting. Faced with a severe winter, the troops refused to continue the war, requesting Maximilian to double their pay, which he could not afford. The revolt turned
10804-639: The bank agrees to conduct an account. The law implies rights and obligations into this relationship as follows: These implied contractual terms may be modified by express agreement between the customer and the bank. The statutes and regulations in force within a particular jurisdiction may also modify the above terms or create new rights, obligations, or limitations relevant to the bank-customer relationship. Some types of financial institutions, such as building societies and credit unions , may be partly or wholly exempt from bank license requirements, and therefore regulated under separate rules. The requirements for
10952-401: The bank is structured or regulated. The business of banking is in many common law countries not defined by statute but by common law, the definition above. In other English common law jurisdictions there are statutory definitions of the business of banking or banking business . When looking at these definitions it is important to keep in mind that they are defining the business of banking for
11100-416: The bank is to restore, not the same money, but an equivalent sum, whenever it is demanded and money, when paid into a bank, ceases altogether to be the money of the principal (see Parker v. Marchant, 1 Phillips 360); it is then the money of the banker, who is bound to return an equivalent, by paying a similar sum to that deposited with him, when he is asked for it. The goldsmith paid interest on deposits. Since
11248-411: The bank will not repay it), and interest rate risk (the possibility that the bank will become unprofitable, if rising interest rates force it to pay relatively more on its deposits than it receives on its loans). Banking crises have developed many times throughout history when one or more risks have emerged for the banking sector as a whole. Prominent examples include the bank run that occurred during
11396-667: The bank, and collecting cheques deposited to customers' current accounts. Banks also enable customer payments via other payment methods such as Automated Clearing House (ACH), Wire transfers or telegraphic transfer , EFTPOS , and automated teller machines (ATMs). Banks borrow money by accepting funds deposited on current accounts, by accepting term deposits , and by issuing debt securities such as banknotes and bonds . Banks lend money by making advances to customers on current accounts, by making installment loans , and by investing in marketable debt securities and other forms of money lending. Banks provide different payment services, and
11544-471: The bishop of Utrecht, hoping to share spoils, gave Philip aid. Maximilian invested his own son with Guelders and Zutphen. Within months and with his father's skilled use of field artillery, Philip conquered the whole land and Charles of Egmond was forced to prostrate himself in front of Philip. Maximilian would like to see the Guelders matter to be dealt with once and for all, but as Charles later escaped and Philip
11692-461: The brutality described shows Maximilian and the Habsburg dynasty's insatiable greed of expansion and inability to adapt to local traditions, while Jean-François Lassalmonie opines that the nation building process (successful, with the establishment of a common tax) was remarkably similar to the same process in France, including the hesitation in working with local levels of the political society, except that
11840-533: The capital of the issuing bank falls below a certain level. Then debt is reduced and bank capitalisation gets a boost. Owing to their capacity to absorb losses, CoCos have the potential to satisfy regulatory capital requirement. The economic functions of banks include: Banks are susceptible to many forms of risk which have triggered occasional systemic crises. These include liquidity risk (where many depositors may request withdrawals in excess of available funds), credit risk (the chance that those who owe money to
11988-415: The castle garrison, begging the servants and men-at-arms for bits of bread. He was the favourite child of his mother, whose personality was a contrast to his father (although there seemed to be communication problems between mother and son, as she spoke Portuguese ). Reportedly she told Maximilian that, "If I had known, my son, that you would become like your father, I would have regretted having born you for
12136-400: The change was Maximilian's success in expanding imperial taxing over German Jewry: at this point, he probably considered the possibility of generating tax money from stable Jewish communities, instead of temporary financial compensations from local jurisdictions who sought to expel Jews. Noflatscher and Péterfi note that Maximilian had a deep dislike for Jews since childhood, the reason of which
12284-483: The cheque has lost its primacy in most banking systems as a payment instrument. This has led legal theorists to suggest that the cheque based definition should be broadened to include financial institutions that conduct current accounts for customers and enable customers to pay and be paid by third parties, even if they do not pay and collect cheques . Banks act as payment agents by conducting checking or current accounts for customers, paying cheques drawn by customers in
12432-406: The cost of war, Maximilian's spendthrift liberality and the interests enforced by his German bankers did cause huge expenditure while income was falling. Jelle Haemers comments that the Estates stopped their support towards the young and ambitious impresario (director) of war (who took personal control of both the military and financial details during the war) because they knew that after Guinegate,
12580-477: The country that made the Burgundian monarchy survive. Jean Berenger and C.A. Simpson argue that Maximilian, as a gifted military champion and organizer, did save the Netherlands from France, although the conflict between the Estates and his personal ambitions caused a catastrophic situation in the short term. Peter Spufford opines that the invasion was prevented by a combination of the Estates and Maximilian, although
12728-423: The cross-selling of complementary products. Banks face a number of risks in order to conduct their business, and how well these risks are managed and understood is a key driver behind profitability, and how much capital a bank is required to hold. Bank capital consists principally of equity , retained earnings and subordinated debt . Some of the main risks faced by banks include: The capital requirement
12876-408: The customer's order – although money lending, by itself, is generally not included in the definition. Unlike most other regulated industries, the regulator is typically also a participant in the market, being either publicly or privately governed central bank . Central banks also typically have a monopoly on the business of issuing banknotes . However, in some countries, this is not the case. In
13024-409: The daughter of an eminent Grand Burgher of Augsburg ( German : Großbürger zu Augsburg ). They had no children, but this marriage gave Jakob the opportunity to elevate to Grand Burgher of Augsburg and later allowed him to pursue a seat on the city council ( Stadtrat ) of Augsburg. He was elevated to the nobility of the Holy Roman Empire in May 1511, made Imperial Count in 1514, and in 1519, led
13172-504: The de facto lord of Guelders continued to cause trouble. In 1511, Margaret made an alliance with England and besieged Venlo, but Charles of Egmont invaded Holland so the siege had to be lifted. James D. Tracy opines that Maximilian and Margaret were reasonable in demanding more stern measures against Guelders, but their critics in the Estates General (that had continuously voted against providing funds for wars against Guelders) and among
13320-575: The emperor created a general treasury ( Hofkammer ) in Innsbruck, which became responsible for all the hereditary lands. The chamber of accounts ( Raitkammer ) at Vienna was made subordinate to this body. Under Paul von Liechtenstein , the Hofkammer was entrusted with not only hereditary lands' affairs, but Maximilian's affairs as the German king too. Historian Joachim Whaley points out that there are usually two opposite views on Maximilian's rulership: one side
13468-531: The emperor. It was Maximilian's support that enabled Reuchlin to fully devote himself to Jewish literature. Like his father Frederick III and his grandson Ferdinand I, he held Jewish physicians and teachers in high esteem. In 1514, he appointed Paulus Ricius , a Jew who converted to Christianity, as his personal physician. He was more interested in Ricius's Hebrew skills than in his medical abilities though. In 1515, he reminded his treasurer Jakob Villinger that Ricius
13616-504: The family is Markus Fugger von dem Rech (born 1970). Hans Fugger's younger son, Jakob the Elder , founded another branch of the family. This branch progressed more steadily and they became known as the "Fuggers of the Lily" after their chosen arms of a flowering lily on a gold and blue background. Jakob was a master weaver, a merchant, and an alderman . He married Barbara Bäsinger , the daughter of
13764-535: The family was Hans Fugger, a weaver at Graben , near the Swabian Free City of Augsburg . The last name was originally spelled "Fucker" – the first recorded reference to the family comes when Johann's son, also named Johann (or Hans), moved to Augsburg in 1367, with the local tax register laconically noting Fucker advenit , "Fugger has arrived". He married Klara Widolf and became an Augsburg citizen. After Klara's death, he married Elizabeth Gattermann. He joined
13912-798: The family, in Carinthia ) and by expanding the sales organization in Europe, especially the Antwerp agency. Jakob leased the copper mines in Besztercebánya in the Kingdom of Hungary (today Banská Bystrica , Slovakia ) in 1495, eventually making them the greatest mining centre of the time. At the height of his power Jakob Fugger was sharply criticized by his contemporaries, especially by Ulrich von Hutten and Martin Luther , for selling indulgences and benefices and urging
14060-589: The funding of these loans, in order to ensure that the banks can meet demands for payment of such deposits. These reserves can be acquired through the acceptance of new deposits, sale of other assets, or borrowing from other banks including the central bank. Activities undertaken by banks include personal banking , corporate banking , investment banking , private banking , transaction banking , insurance , consumer finance , trade finance and other related. Banks offer many different channels to access their banking and other services: A bank can generate revenue in
14208-533: The gentry's hostility to the Habsburg, he managed to gain many supporters from higher aristocracy, including several of Corvinus's former supporters. One of them, Jakob Székely, handed over the Styrian castles to him. He claimed his status as King of Hungary. In the meantime, Vladislas was proclaimed King of Hungary on July 15, 1490, and was crowned at Székesfehérvár in September. Maximilian responded with great energy, using
14356-516: The goldsmiths of London became the forerunners of banking by creating new money based on credit. The Bank of England originated the permanent issue of banknotes in 1695. The Royal Bank of Scotland established the first overdraft facility in 1728. By the beginning of the 19th century Lubbock's Bank had established a bankers' clearing house in London to allow multiple banks to clear transactions. The Rothschilds pioneered international finance on
14504-406: The issue of banknotes emerged in the 17th and 18th centuries. Merchants started to store their gold with the goldsmiths of London , who possessed private vaults , and who charged a fee for that service. In exchange for each deposit of precious metal, the goldsmiths issued receipts certifying the quantity and purity of the metal they held as a bailee ; these receipts could not be assigned, only
14652-442: The issue of a bank license vary between jurisdictions but typically include: Banks' activities can be divided into: Most banks are profit-making, private enterprises. However, some are owned by the government, or are non-profit organisations . The United States banking industry is one of the most heavily regulated and guarded in the world, with multiple specialised and focused regulators. All banks with FDIC-insured deposits have
14800-624: The land again after gaining control. When the Estates sent a delegation to offer him the regency after Philip's death in 1506, he evaded them for months. As suzerain, Maximilian continued to involve himself with the Low Countries from afar. His son's and daughter's governments tried to maintain a compromise between the states and the Empire. Philip, in particular, sought to maintain an independent Burgundian policy, which sometimes caused disagreements with his father. As Philip preferred to maintain peace and economic development for his land, Maximilian
14948-540: The large Burgundian domains in France and the Low Countries upon her father's death in the Battle of Nancy on 5 January 1477. The Duchy of Burgundy was also claimed by the French crown under Salic law , with Louis XI of France vigorously asserting his claim through military force. Maximilian at once undertook the defence of his wife's dominions. Without support from the Empire and with an empty treasury left by Charles
15096-647: The large number of supplications he received). In 1500, as Maximilian urgently needed assistance for his military plans, he agreed to establish an organ called the Reichsregiment (central imperial government, consisting of twenty members including the Electors, with the Emperor or his representative as its chairman), first organized in 1501 in Nuremberg and consisted of the deputies of the Emperor, local rulers, commoners, and
15244-409: The largest 1,000 banks in the world grew by 6.8% in the 2008–2009 financial year to a record US$ 96.4 trillion while profits declined by 85% to US$ 115 billion. Growth in assets in adverse market conditions was largely a result of recapitalisation. EU banks held the largest share of the total, 56% in 2008–2009, down from 61% in the previous year. Asian banks' share increased from 12% to 14% during
15392-436: The law in relation to negotiable instruments , including cheques, and this Act contains a statutory definition of the term banker : banker includes a body of persons, whether incorporated or not, who carry on the business of banking' (Section 2, Interpretation). Although this definition seems circular, it is actually functional, because it ensures that the legal basis for bank transactions such as cheques does not depend on how
15540-486: The love of science and culture on his own terms though, especially during his time in Burgundy, under the influence of Mary of Burgundy). Although the two remained on good terms overall and the emperor encouraged Maximilian's interest in weapons and the hunt, as well as let him attend important meetings, Frederick was horrified by his only surviving son and heir's overzealousness in chivalric contests, extravagance, and especially
15688-471: The name Fugger von Glött. The comital branch Fugger von Kirchberg und zu Weissenhorn is today represented by countess Maria-Elisabeth von Thun und Hohenstein , née countess Fugger, heiress of Kirchberg Castle at Illerkirchberg (bought in 1507 by Jakob Fugger). She also heads the charitable family foundations including the Fuggerei in Augsburg and Welden monastery. In Augsburg, a museum of Fugger and Welser history (Fugger und Welser Erlebnismuseum)
15836-422: The nation's unification process. Ever since Hermann Wiesflecker 's Kaiser Maximilian I. Das Reich, Österreich und Europa an der Wende zur Neuzeit (1971–1986) became the standard work, a much more positive image of the emperor has emerged. He is seen as an essentially modern, innovative ruler who carried out important reforms and promoted significant cultural achievements, even if the financial price weighed hard on
15984-511: The nature of the war was not defensive anymore. Maximilian and his followers had managed to achieve remarkable success in stabilizing the situation though, and a stalemate was kept in Ghent as well as in Bruges, before the tragic death of Mary in 1482 completely turned the political landscape in the whole country upside down. According to Haemers, while Willem Zoete's indictment of Maximilian's government
16132-591: The nobles naively thought that Charles of Egmont could be controlled by maintaining the peaceful relationship with the King of France, his patron. Leading Humanists in the Netherlands like Erasmus and Hadrianus Barlandus displayed a distrust towards the government and especially the person of Maximilian, whom they believed to be a warlike and greedy prince. After the brutal 1517 campaign of Charles of Egmont in Friesland and Holland, these Humanists, in their mistaken belief, spread
16280-589: The order, the archbishop of Mainz, the city council of Frankfurt and various German princes tried to intervene in defense of the Jews. Maximilian consequently ordered the confiscated books to be returned. On 23 May 1510 though, influenced by a supposed "host desecration" and blood libel in Brandenburg, as well as pressure from Kunigunde, he ordered the creation of an investigating commission and asked for expert opinions from German universities and scholars. The prominent humanist Johann Reuchlin argued strongly in defense of
16428-420: The original depositor could collect the stored goods. Gradually the goldsmiths began to lend money out on behalf of the depositor , and promissory notes , which evolved into banknotes, were issued for money deposited as a loan to the goldsmith. Thus, by the 19th century, we find in ordinary cases of deposits, of money with banking corporations, or bankers, the transaction amounts to a mere loan, or mutuum , and
16576-455: The past 20 years, American banks have taken many measures to ensure that they remain profitable while responding to increasingly changing market conditions. This helps in making a profit and facilitates economic development as a whole. Recently, as banks have been faced with pressure from fintechs, new and additional business models have been suggested such as freemium, monetisation of data, white-labeling of banking and payment applications, or
16724-419: The period 1482–1492, attempting to regain the autonomy they had enjoyed under Mary. Flemish rebels managed to capture Philip and even Maximilian himself, but they released Maximilian when Frederick III intervened. In 1489, as he turned his attention to his hereditary lands, he left the Low Countries in the hands of Albert of Saxony , who proved to be an excellent choice, as he was less emotionally committed to
16872-409: The prince-electors of the Holy Roman Empire. Maximilian resented the new organization as it weakened his powers, and the Estates failed to support it. The new organ proved politically weak, and its power returned to Maximilian in 1502. According to Thomas Brady Jr. and Jan-Dirk Müller, the most important governmental changes targeted the heart of the regime: the chancery. Early in Maximilian's reign,
17020-530: The princes. Many measures were launched in the 1495 Reichstag at Worms . A new organ was introduced, the Reichskammergericht , that was to be largely independent from the Emperor. A new tax was launched to finance the Empire's affairs (above all military campaigns), the Gemeine Pfennig . It was levied for the first time between 1495 and 1499, raising 136,000 florins, and another five times during
17168-438: The promissory notes were payable on demand, and the advances (loans) to the goldsmith's customers were repayable over a longer time-period, this was an early form of fractional reserve banking . The promissory notes developed into an assignable instrument which could circulate as a safe and convenient form of money backed by the goldsmith's promise to pay, allowing goldsmiths to advance loans with little risk of default . Thus
17316-700: The prosperous cities of Renaissance Italy but, in many ways, functioned as a continuation of ideas and concepts of credit and lending that had their roots in the ancient world . In the history of banking , a number of banking dynasties – notably, the Medicis , the Pazzi , the Fuggers , the Welsers , the Berenbergs , and the Rothschilds – have played
17464-487: The purposes of the legislation, and not necessarily in general. In particular, most of the definitions are from legislation that has the purpose of regulating and supervising banks rather than regulating the actual business of banking. However, in many cases, the statutory definition closely mirrors the common law one. Examples of statutory definitions: Since the advent of EFTPOS (Electronic Funds Transfer at Point Of Sale), direct credit, direct debit and internet banking ,
17612-437: The rest, and that the burial place of the Fugger family, who are considered strictly Catholic, is now in a Protestant church. Adding to the oddity is that Jacob Fugger's loans to Cardinal Albert of Brandenburg and the indulgence to repay them were what triggered Martin Luther's Reformation. Anselm Maria Fugger von Babenhausen (1766–1821) was created Prince of the Holy Roman Empire in 1803. The present head of this branch
17760-450: The return of Austrian provinces and Vienna, if they would renounce the treaty of 1463 and accept Matthias as Frederick's designated heir and favoured successor as Holy Roman Emperor. Before this was settled though, Matthias died in Vienna in 1490. However, after Matthias Corvinus died from a stroke on 6 April 1490, civil war broke out in Hungary between the supporters of John Corvinus and the supporters of king Vladislaus of Bohemia . Due to
17908-570: The rich cities in the centre and north like Florence , Lucca , Siena , Venice and Genoa . The Bardi and Peruzzi families dominated banking in 14th-century Florence, establishing branches in many other parts of Europe. Giovanni di Bicci de' Medici set up one of the most famous Italian banks, the Medici Bank , in 1397. The Republic of Genoa founded the earliest-known state deposit bank, and Banco di San Giorgio (Bank of St. George), in 1407 at Genoa , Italy. Fractional reserve banking and
18056-554: The saddest and most turbulent in the history of the country, and despite his later great imperial career, Maximilian unfortunately could never compensate for the mistakes he made as regent in this period. Some of the Netherlander provinces were hostile to Maximilian, and, in 1482, they signed a treaty with Louis XI in Arras that forced Maximilian to give up Franche-Comté and Artois to the French crown. They openly rebelled twice in
18204-600: The scene, these became their main force). The brutal efficiency of Germanic mercenaries, together with the financial support of cities outside Flanders like Antwerp, Amsterdam, Mechelen and Brussels as well as a small group of loyal landed nobles proved decisive in the Burgundian-Habsburg regime's final triumph. Reviewing the French historian Amable Sablon du Corail's La Guerre, le prince et ses sujets. Les finances des Pays-Bas bourguignons sous Marie de Bourgogne et Maximilien d'Autriche (1477–1493) , Marc Boone comments that
18352-538: The situation in favour of the Jagiellonian forces. Maximilian was forced to return. He depended on his father and the territorial estates for financial support. Soon he reconquered Lower and Inner Austria for his father, who returned and settled at Linz. Worrying about his son's adventurous tendencies, Frederick decided to starve him financially. In 1491, they signed the peace treaty of Pressburg , which provided that Maximilian recognized Vladislaus as King of Hungary, but
18500-538: The stories that the emperor and other princes were concocting clever schemes and creating wars just to expand the Habsburg dominion and extracting money. By the time Margaret became Regent, Maximilian was less inclined to help regarding the Guelders matter. He suggested to her that the Estates in the Low Countries should defend themselves, forcing her to sign the 1513 treaty with Charles. Habsburg Netherlands would only be able to incorporate Guelders and Zutphen under Charles V. Following Margaret's strategy of defending
18648-403: The struggle was shorter and after 1494 a peaceful dialogue between the prince and the estates was reached. Jelle Haemers suggests that the level of violence associated with the suppression of the revolts as traditionally imagined has been exaggerated and that most of the violence happened in a symbolical manner, but also cautions against the tendency to consider the "central state" in the sense of
18796-514: The territories he had conceded and some Venetian possessions. Most of the Slovene-inhabited areas were transferred to the Habsburgs. But atrocities and expenses for war devastated Austria and Carniola. Lack of financial means meant that he depended on allies' resources, and just like in the Low Countries, he sometimes practically functioned as the condottiero. When Schiner suggested that they should let war feed war though, he did not agree or
18944-518: The three brothers Jacob Fugger , Georg Fugger and Ulrich Fugger the Elder and their two nephews Raymund Fugger and Hieronymus Fugger (1499–1538). When St. Anne's Church became Protestant in 1548, the Fugger Chapel remained Catholic because the Fugger Foundation continued to look after it and contributed to the upkeep of the church. Hence. part of the church is denominationally different from
19092-517: The throne." Her early death pushed him even more towards a man's world, where one grew up first as a warrior rather than a politician. Despite the efforts of his father Frederick and his tutor Peter Engelbrecht (whom Maximilian held in contempt all his life because of his violent teaching methods which, according to Cuspinianus , only made Maximilian hate science), Maximilian became an indifferent, at times belligerent student, who much preferred physical activities than learning (he would later rediscover
19240-603: The wealthiest people ever to have lived, with a GDP-adjusted net worth of over $ 400 billion, and approximately 2% of the entire GDP of Europe at the time. While the company was dissolved in 1657, the Fuggers remained wealthy landowners and ruled the County of Kirchberg and Weissenhorn. The Babenhausen branch became Princes of the Holy Roman Empire in 1803, while the Glött branch of the family became Princes in Bavaria in 1914. The founder of
19388-423: The weaver's guild, and by 1396, he was ranked high in the list of taxpayers. He added the business of a merchant to that of a weaver. His eldest son, Andreas Fugger , was a merchant in the weaving trade, and was nicknamed "Fugger the Rich" after buying land and other properties. The Fugger family itemized and inventoried a large number of Asian rugs, an unusual undertaking at the time. Andreas's son, Lukas Fugger ,
19536-459: The year, while the share of US banks increased from 11% to 13%. Fee revenue generated by global investment in banking totalled US$ 66.3 billion in 2009, up 12% on the previous year. The United States has the most banks in the world in terms of institutions (5,330 as of 2015) and possibly branches (81,607 as of 2015). This is an indicator of the geography and regulatory structure of the US, resulting in
19684-452: Was a heavy blow personally (Maximilian's entourage seemed to have concealed the incident from him for more than ten days) and also politically, as by this time, he had become his father's most important international ally, although he retained his independent judgement. All their joint ventures fell apart, including the planned Italian expedition in 1508. The Estates preferred to maintain peace with France and Guelders. But Charles of Egmont,
19832-590: Was a one-sided picture that exaggerated the negative points and the Regency Council displayed many of the same problems, Maximilian and his followers could have been more prudent when dealing with the complaints of their opponents before matters became bigger. During his time in the Low Countries, he had experimented with all kinds of military models available, first urban militia and vassalic troops, then French-style companies that were too rigid and costly, and finally Germanic mercenaries (when Albert of Saxony came to
19980-460: Was admitted for the purpose of translating the Talmud into Latin, and urged Villinger to keep an eye on him. Perhaps overwhelmed by the emperor's request, Ricius only managed to translate two out of sixty-three Mishna tractates before the emperor's death. Ricius managed to publish a translation of Joseph Gikatilla 's Kabbalistic work The Gates of Light , which was dedicated to Maximilian, though. It
20128-524: Was among the fallen), while Maximilian's own advance was blocked by the main Venetian force under Niccolò di Pitigliano and a French army under Alessandro Trivulzio . Bartolomeo d'Alviano then pushed into the Imperial territory, seizing Gorizia and Trieste, forcing Maximilian to sign a very unfavourable truce. Afterwards, he formed the League of Cambrai together with Spain, France and Pope Julius II and won back
20276-476: Was at haste to make his 1506 fatal journey to Spain, troubles would soon arise again, leaving Margaret to deal with the problems. Maximilian was exasperated by the attitude of Philip (whom, in Maximilian's imagination, was probably influenced by insidious French agency) and the Estates, whom he considered to be unbelievably nonchalant and tightfisted about a threat to their own country's security. Philip's death in Burgos
20424-400: Was born at Wiener Neustadt on 22 March 1459. His father, Frederick III, Holy Roman Emperor , named him for an obscure saint, Maximilian of Tebessa , who Frederick believed had once warned him of imminent peril in a dream. In his infancy, he and his parents were besieged in Vienna by Albert of Austria . One source relates that, during the siege's bleakest days, the young prince wandered about
20572-557: Was born in 1493, married Anna Rehlinger, and died in 1560. In 1525, the Fuggers were granted the revenues from the Spanish orders of knighthood together with the profits from mercury and silver mines. The formerly rich yield of the Tirolean and Hungarian mines decreased, but Anton established new trade ties with Peru and Chile and started mining ventures in Sweden and Norway . He was involved in
20720-475: Was empty. The battle was an important landmark in military history though: the Burgundian pikemen were the precursors of the Landsknechte , while the French side derived the momentum for military reform from their loss. According to some, Maximilian and Mary's wedding contract stipulated that their children would succeed them but that the couple could not be each other's heirs. Mary tried to bypass this rule with
20868-520: Was granted arms by the Emperor Frederick III , a golden deer on a blue background, and he was soon nicknamed "the Fugger of the Deer". He would eventually go bankrupt. His descendants served their cousins of the famous younger branch and later went to Silesia. Contemporary members of the Fugger of the Deer ( German: Fugger vom Reh) are descendants of Matthäus Fugger (1442–1489/92). The current head of
21016-399: Was just.). After 1510 though, this happened only once, and he showed an unusually resolute attitude in resisting a campaign to expel Jews from Regensburg. David Price comments that during the first seventeen years of his reign, he was a great threat to the Jews, but after 1510, even if his attitude was still exploitative, his policy gradually changed. A factor that probably played a role in
21164-400: Was left fighting Charles of Egmond over Guelders on his own resources. At one point, Philip let French troops supporting Guelders's resistance to his rule pass through his own land. Only at the end of his reign, Philip decided to deal with this threat together with his father. By this time, Guelders had been affected by the continuous state of war and other problems. The duke of Cleves and
21312-455: Was not brutal enough to do that. He acknowledged French control of Milan in 1515. The situation in Italy was not the only problem Maximilian had at the time. The Swiss won a decisive victory against the Empire in the Battle of Dornach on 22 July 1499. Maximilian had no choice but to agree to a peace treaty signed on 22 September 1499 in Basel that granted the Swiss Confederacy independence from
21460-411: Was not popular though. According to Barbara Stollberg-Rilinger though, throughout the early modern period, the Reichshofrat remained by far the faster and more efficient among the two Courts. The Reichskammergericht on the other hand was often torn by matters related to confessional alliance. Around 1497–1498, as part of his administrative reforms, he restructured his Privy Council ( Geheimer Rat ),
21608-577: Was opened. In April 2019, Dutch maritime investigators unearthed a 16th-century shipwreck during an exploration for container ship MSC Zoe which lost containers overboard in January 2019. Copper plates with emblem of the Fugger family were found in the ship built around 1540 in the Netherlands during the reign of Charles V . The following historic buildings are still owned by the Fugger family: Andreas vom Reh (1394–1457) Bank A bank
21756-590: Was seemingly linked to the fear of the Turks (the Romani were accused of being spies for the Turks). Kenrich and Puxon explains that connect the situation with the consolidation of European nation-states, that also stimulated similar policies elsewhere. Within the Holy Roman Empire, there was also a consensus that deep reforms were needed to preserve the unity of the Empire. For most of his reign, Frederick III had considered reform as
21904-684: Was under Frederick and Maximilian that the foundation of Modern Judaism arose, steeped in Humanism. It was under Maximilian that policies concerning the Romani became harsher. In 1500, a notice was given to the Romani that they had to leave Germany by the next Easter, or become outlaws (the Romani had to evade the law by following a constant circuit from an area to another, and at times, obtain patronage from aristocrats). The reformation beginning in 1517 did not consider them foreigners anymore, but as local beggars, they also faced discrimination. The change in policy
#885114