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These banks have a unique place because it is their role to furnish an important part of the money supply.

Investment banking is not a new subject in the field of finance. It evolved in the fifteenth century in Italy and later spread to France and the UK in the eighteenth century. Modern Investment Banking had its origin in UK as an ancillary activity of large sized trading houses...

Modern Investment Banking had its origin in UK as an ancillary activity of large sized trading houses. Later on, it spread its roots in the rest of Europe and the United States of America. In Europe and the US it took the form of Merchant Banking, catering to the business of bill finance and loan underwriting especially for exports...

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