A bank is a financial institution and a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly or through capital markets. A bank connects customers that have capital deficits to customers with capital surpluses.[citation needed]
Due to their critical status within the financial system and the economy[citation needed] generally, banks are highly regulated in most countries. Most banks operate under a system known as fractional reserve banking where they hold only a small reserve of the funds deposited and lend out the rest for profit. They are generally subject to minimum capital requirements which are based on an international set of capital standards, known as the Basel Accords.
The oldest bank still in existence is Monte dei Paschi di Siena, headquartered in Siena, Italy, which has been operating continuously since 1472.
Banking in the modern sense of the word can be traced to medieval and early Renaissance Italy, to the rich cities in the north like Florence, Venice and Genoa. The Bardi and Peruzzi families dominated banking in 14th century Florence, establishing branches in many other parts of Europe. Perhaps the most famous Italian bank was the Medici bank, set up by Giovanni Medici in 1397. The earliest known state deposit bank, Banco di San Giorgio (Bank of St. George), was founded in 1407 at Genoa, Italy.
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Plot
Permanent Residents combines extreme costume design with staged documentation of everyday activities in the urban space of Los Angeles. The costumes point to a collective imaginary world, that consists of the floating signifiers of pop-icons, myths and social fictions. The protagonists of the film communicate in a non-verbal language across spacial distances. Their simultaneous movements at different locations merge into a choreography, which draws our attention to musical and abstract visual aspects in the design of our environment. A portrait of the city's influence onto its residents.
Keywords: costume, costume-design
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