History of The Bank of New York2. Services for CustomersA. IndividualsB. BusinessesC. Public EntitiesD. Government Entities3. Highlights of The Bank of New York4. Consolidated Financial Statements5. BibliographyThe Bank of New YorkTable of Contents1. History of The Bank of New York2. Services for CustomersA. IndividualsB. BusinessesC. Public EntitiesD. Government Entities3. Highlights of The Bank of New York4. Consolidated Financial Statements5. BibliographyHISTORY OF THE BANK OF NEW YORKOn February 23, 1784, a small advertisement appeared in The New York Packet, one of the many New York newspapers of that era. This advertisement announced that prominent New York citizens had established a bank. The bank, established by the prominent, would not officially open for business until June 9, 1784. That bank would come to be known as the bank of New York. Alexander Hamilton, a well-known New York attorney, was asked to write the constitution of the new bank. He complied and therefore Alexander Hamilton was credited with the founding of the Bank of New York. The Bank of New York is the oldest bank in New York and along with that is one of the oldest banks in the world since banking the way we know it today began in the 18th century. Alexander Hamilton later went on to become the Secretary of the Treasury in President George Washington’s first cabinet. In 1789, Hamilton negotiated the first loan obtained by the new Democratic government. The amount of the loan was $200,000, and was issued by The Bank of New York. Hence, not only is the Bank of New York one of the oldest banks in the world, but it is also a historic one because it was the first bank in the United States to issue a loan. Adding to that historic feeling, when the New York Stock Exchange was created in 1792, the first stock traded was the Bank of New York's stock. The Bank of New York played a major role in the economic growth in the New York metropolitan area. ...
