Money lending
In banking, money lending is understood to mean all loans that are granted to the borrower by transferring cash or book money . The contrast is the loan loan .
history
There has been very little evidence of money lending in Germany for clerics and laypeople since the 9th or 10th century, and for Jews since the second half of the 11th century. According to Dtn 23 : 20-21 ELB ( Deut . Book Mose 23:21 ), Jews were allowed to lend money to strangers:
"To the stranger ( Hebrew נכרי nochri ), a foreigner who is only temporarily in the country] you may impose interest, but you must not impose interest on your brother so that the Lord your God will bless you in all business of your hand in the country to which you come, to take possession of it. "
Money lending is closely related to Jews in Europe's historical consciousness, to the point that it was seen as an integral part not only of Jewish existence, but also of the essence of Judaism. The term money lending is still used today in connection with the money lending business of the Jews, whereby the rise of money lending as the main livelihood of the Jews belongs to the stereotypes about Jews by the “money Jews”, the “Jewish usurers”, or the “Jewish money lenders” “, All ethnophaulisms . The myth of “Jewish financial rule” developed from the associated prejudice of a special Jewish affinity for money . All of this is rooted in the idea of the medieval moneylender as a usurer who is said to have harmed the Christian population.
Today's banking
The banking industry has taken the concept of lending money for the rule of lending where the lender bank 's borrowers money leaves the borrower and one in the loan agreement agreed repayment along with interest rates expected. Monetary lending includes, in particular, all types of loans ,
- for corporate financing : real estate financing of commercial real estate , investment loans , promissory note loans , foreign currency loans , current account loans , stand-by loans , roll-over loans , revolving credit facilities and (previously) discount loans ;
- for natural persons : real estate financing for residential property , consumer loans , overdraft facilities , wage and salary assignments or Lombard loans .
Legal issues
From a legal point of view, the term money lending is wrong, since the same items are to be returned in the case of a loan , while in the case of a loan reasonable items of the same type, quality, quantity and nature are to be returned; moreover, in the case of a loan , the borrower becomes the owner of the money, the borrower only the immediate owner .
In terms of banking law , money lending is a banking transaction in accordance with Section 1 (1) No. 2 of the KWG that includes the “granting of money loans”. According to Section 1 (1) No. 5 KWG, companies in the pawnbroking business are also permitted to lend money , provided they do so by granting loans against collateral .
Individual evidence
- ^ Gustav Fock, Mitteilungen des Gesamtarchiv der Deutschen Juden , Volumes 4–5, 1914, p. 43
- ↑ Manfred Treml / Josef Kirmeier, History and Culture of the Jews in Bavaria: Essays , Volume 1, 1988, p. 85
- ↑ Money In: Jewish History. Retrieved August 14, 2020.
- ↑ Michael Toch, The Jews in the Middle Ages , 2013, p. 8