PNC Bank Corp is the present form of PNC Financial Corporation. This financial giant is the result of a merger of two financial bodies: the Pittsburgh National Corporation and the Provident National Corporation.
PNC, the 11th largest bank in the United States, is a leading member of what is referred to as "super-regional" holding companies greatly aided by the relaxing of interstate banking regulations in the 1980s. Both major arms of PNC date back to the 19th century; Pittsburgh National Bank was formed in 1852 as Pittsburgh Trust and Savings, and the Provident National Corporation traces its origins to the Tradesmens National Bank of 1847.Learn More
In finance, a lodgment is a deposit of funds into a bank account, according to Oxford Dictionaries. The term originated in the late 16th century and comes from the French word "logement," which derives from the Old French term "loge," meaning a dwelling.Full Answer >
In electrical engineering industries, a capacitor bank is a group of several capacitors connected with one another. These capacitors must be identical and connected in either a parallel or series formation. Capacitor banks are used for different purposes, but usually to correct a fault within the system, such as lag or phase shifts. These banks can also be used simply to increase the energy storage of a system.Full Answer >
Development banks provide capital to companies and organizations when raising money for ventures is difficult, particularly in countries where investment capital tends to be scarce. National development banks provide an important alternative to companies and projects that find it difficult to raise money to finance an endeavor.Full Answer >
Bank holidays originally referred to the official holidays in the United Kingdom Bank Holiday Act of 1871. This act has changed over the years, but it still remains the origin of the name.Full Answer >