Private bank

Private banks are banks owned by either an individual or a general partner(s) with limited partner(s). Private banks are not incorporated. In any such case, the creditors can look to both the "entirety of the bank's assets" as well as the entirety of the sole-proprietor's/general-partners' assets.

These banks have a long tradition in Switzerland, dating back to at least the Revocation of the Edict of Nantes (1685). Private banks also have a long tradition in the UK where C. Hoare & Co. has been in business since 1672.

There were many private banks in Europe, but most have now become incorporated companies, so the term is rarely true any more. Today, the term "private bank" can also refer to the financial institution specializing in financial advice and services for high-net-worth individuals (private banking).

"Private banks" can also refer to non-government owned banks in general, in contrast to government-owned (or nationalized) banks, which were prevalent in communist, socialist and some social democratic states in the 20th century.

Luxembourg

Coordinates: 49°45′N 6°10′E / 49.750°N 6.167°E / 49.750; 6.167

Luxembourg ⁱ/ˈlʌksəmbɜːrɡ/ (Luxembourgish: Lëtzebuerg; German: Luxemburg), officially the Grand Duchy of Luxembourg, is a landlocked country in western Europe. It is bordered by Belgium to the west and north, Germany to the east, and France to the south. It comprises two principal regions: the Oesling in the north as part of the Ardennes massif, and the Gutland ("good country") in the south. With an area of 2,586 square kilometres (998 sq mi), it is one of the smallest sovereign states in Europe (about the same size as the English county of Northamptonshire). Luxembourg had a population of 524,853 in October 2012, ranking it the 8th least-populous country in Europe.

As a representative democracy with a constitutional monarch, it is headed by a grand duke, Henri, Grand Duke of Luxembourg, and is the world's only remaining grand duchy. Luxembourg is a developed country, with an advanced economy and the world's highest GDP (PPP) per capita, according to the United Nations in 2014. Its central location has historically made it of great strategic importance to numerous powers, dating back to its founding as a Roman fortress, its hosting of a vital Frankish castle during the Early Middle Ages, and its role as a bastion for the Spanish Road between the 16th and 17th centuries.

Luxembourg (disambiguation)

Luxembourg, officially the Grand Duchy of Luxembourg, is a sovereign country in western Europe.

Luxembourg or Luxemburg may also refer to:

Places

Luxembourg

Belgium

France

United States

People

Luxembourg (Belgium)

Luxembourg (Dutch:  Luxemburg ; same in German but with a slightly different pronunciation; Luxembourgish: Lëtzebuerg; Walloon: Lussimbork) is the southernmost province of Wallonia and of Belgium. It borders on (clockwise from the east) the Grand Duchy of Luxembourg, France, and the Belgian provinces of Namur and Liège. Its capital is Arlon (Luxembourgish: Arel, Dutch: Aarlen), in the south-east of the province.

It has an area of 4,443 km², making it the largest Belgian province. At around a quarter of a million residents, it is also the province with the smallest population, making it the most sparsely populated province in an otherwise very densely populated country.

It is significantly larger (70%) and much less populous than the neighbouring Grand Duchy of Luxembourg.

About eighty percent of the province is part of the densely wooded Ardennes region.

The southernmost region of the province is called Gaume or Belgian Lorraine (main city: Virton).

The Arelerland or Arlon region (in red on the following map of the province) alongside the border with the neighbouring Grand-Duchy of Luxembourg has the particularity that many residents speak Luxembourgish instead of the Walloon (French) dialect(s) spoken elsewhere in the province.