Which 1401 Barcelona institution is often described as the world's first public bank?

The Taula de Canvi, established in Barcelona in 1401, is often described as the world's first public bank.

Barcelona created the institution to strengthen public finance and provide a trustworthy place for deposits and payments. The name means “table of exchange,” reflecting the medieval practice of conducting banking transactions at a table.

Unlike a modern commercial bank, the Taula de Canvi was closely tied to the city's government. It accepted deposits, transferred funds, and helped manage municipal financial obligations. Its creation came during a period when European cities were developing more organized systems for public credit.

The institution is sometimes confused with later public banks such as the Bank of Amsterdam, founded in 1609, or Venice's Banco di Rialto. Those banks became especially influential in early modern commerce, but the Barcelona Taula predates them. It was eventually abolished in the nineteenth century after centuries of changing financial and political conditions.