Banco di Santo Spirito
![](http://upload.wikimedia.org/wikipedia/commons/thumb/e/e3/Palazzo_d%27Antica_Zecca.jpg/250px-Palazzo_d%27Antica_Zecca.jpg)
The Bank of the Holy Spirit (Italian: Il Banco di Santo Spirito) was a bank founded by Pope Paul V on December 13, 1605. The bank was the first central bank in Europe (as the bank of the Papal States) at a level above city-states,[1] the first public deposit bank in Rome,[2] and the oldest continuously operating bank in Rome until its merger in 1992.[3]
First period (1605–1923)
![](http://upload.wikimedia.org/wikipedia/commons/thumb/a/ad/Pope_Paul_V.jpg/220px-Pope_Paul_V.jpg)
The Bank was founded by Pope Paul V in the Bench of S. Spirit building (which became known as the Palazzo del Banco di S. Spirito) on December 13, 1605.[4] The construction of the building was started in 1513 by Pope Leo X, on what became known as the "Street of the Banks."[5] The newly founded bank provided a new source of income for the Archhospital of Santo Spirito (founded 1201),[6] whose financial difficulties had been increasing throughout the 16th century, and in 1607 the bank began supervising the finances of the hospital, which owned the bank.[2]
From February 20, 1606, to 1923, the Bank of the Holy Spirit provided capital for churches and hospitals constructed in Rome, and other commercial purposes. The bank lent funds to several public works projects, including the Trajan aqueduct project (Begun 1608).[6]
In 1750, Pope Benedict XIV, known for his condemnation of usury: Vix pervenit (promulgated November 1, 1745), reorganized the Bank and restricted its lending activities. In 1786, the bank became one of the first to issue paper money during the pontificate of Pope Pius VI.[7] By the late 19th century, the bank was controlled by the state.[8]: 89
The records of the Bank are extant in the Vatican Secret Archives, but not in Introitus et Exitus, the records of the Apostolic Camera.[9]
1923–92
In 1923, the Bank was reorganized as a joint-stock company. In 1935, the Istituto per la Ricostruzione Industriale (IRI) of the fascist Italian government gained a controlling interest in the bank.
In the 1930s, Neapolitan bank robbers attempting to dig into the underground vaults of the Bank accidentally discovered the skeletons of victims of an 1836 cholera epidemic, which after archeological excavation became known as the Fontanelle cemetery.[10]
Mergers
In 1989-1991, the Banco di Santo Spirito merged with Cassa di Risparmio di Roma (est. 1836). In 1992, the resulting entity in turn merged with Banco di Roma (est. 1880) to form Banca di Roma, which itself merged with other banks in 2002 to form Capitalia.[11]
See also
References
- ^ Euvino, Gabrielle. 2001. The Complete Idiot's Guide to Italian History and Culture. Alpha Books. ISBN 0-02-864234-1. p. 106.
- ^ a b Freiberg, Jack. 1991. "Paul V, Alexander VII, and a Fountain by Nicolò Cordier Rediscovered." The Burlington Magazine 133 (1065): 833–843.
- ^ Fodor's Online Travel Guide. 2007. "Touring Old Rome."
- ^ (in Italian) Piperno, Roberto. "SS. Celso and Giuliano."
- ^ Copetas, A. Craig. 1997, April 18. "Travel: Guide Is Key to Italy's Ancient Banks --- `Forma Urbis' Unearths Many Unusual Gems." The Wall Street Journal.
- ^ a b Cohen, M. 1994. "Capitalia S.p.A." International Directory of Company Histories 65.
- ^ Snodgrass, Mary Ellen. 2003. Coins and Currency: An Historical Encyclopedia. McFarland & Co., Inc. Publishing. ISBN 0-7864-1450-2. p. 317.
- ^ Leonardo Giani (2008), "Ownership and control of Italian banks: A short inquiry into the roots of the current context" (PDF), Corporate Ownership & Control (6(1)): 87–98
- ^ Ambrosini, Maria Luisa, and Willis, Mary. 1996. The Secret Archives of the Vatican. Barnes & Noble Publishing. ISBN 0-7607-0125-3. p. 136.
- ^ Herling, Gustaw. Trans. Bill Johnston. 2006. The Noonday Cemetery and Other Storie. New Directions Publishing. ISBN 0-8112-1529-6.
- ^ Who's Who in Italy. "Banca di Roma."
- v
- t
- e
- Cassa Depositi e Prestiti
- Poste Italiane
- Istituto per il Credito Sportivo
- Banca Mediocredito del Friuli Venezia Giulia
- Investitionsbank Trentino Südtirol – Mediocredito Trentino Alto Adige
- Finaosta
- Fincalabra
- Finlombarda
- Finmolise
- Finpiemonte
- Fidi Toscana
- FIRA
- Gepafin
- IRFIS – FinSicilia
- Sviluppo Basilicata
- SFIRS
- Veneto Sviluppo
- FarBanca
- Banca Intermobiliare
(Supervised by ECB)
multi-regional banks
(Supervised by ECB)
(total assets €30b to €8b)
regional cooperative bank
(Popolari banks)
- Banca Agricola Popolare di Ragusa
- Banca Valsabbina
- Banca Popolare di Puglia e Basilicata
- Banca Popolare di Cividale
- Cassa di Sovvenzioni e Risparmio fra il Personale della Banca d'Italia
- Banca Popolare Pugliese
- Banca di Piacenza
- Banca di Credito Popolare
- Banca Popolare del Lazio
- Banca Popolare del Cassinate
- Banca Popolare Valconca
- Banca Popolare Etica
- Banca Popolare Sant'Angelo
- Sanfelice 1893 Banca Popolare
- Banca Popolare di Lajatico
- Banca Popolare di Fondi
- Banca Popolare del Frusinate
and central banks
- Federcasse
- central banks
- List of members of Federcasse
- Fondo di Garanzia dei Depositanti del Credito Cooperativo
- Cassa di Risparmio di Ravenna
- Banco di Lucca e del Tirreno
- Banca di Imola
- Banca di Cambiano
- Cassa di Risparmio di Cento
- ChiantiBanca
- Cassa Padana
- Cassa di Risparmio di Volterra
- Cassa di Risparmio di Fossano
- Banca del Fucino
- Cassa di Risparmio di Fermo
- Banca del Piemonte
- Banca CR Savigliano
- Banco Azzoaglio
- Banca Generali
- Banca IFIS
- Banca Finnat
- Banca Ubae
- Banca Leonardo
- Banca Farmafactoring
- FinecoBank
- Unione Fiduciaria
- Credito Fondiario
- Banca Passadore
- Banca Sistema
- Banca Profilo
- Mercury
- Nexi
- Setefi
- List of banks in Italy
- Associazione Bancaria Italiana
- Associazione di Fondazioni e di Casse di Risparmio S.p.A.
- Associazione Nazionale fra le Banche Popolari
- Fondo Interbancario di Tutela dei Depositi
- Italian National Resolution Fund