January 20

Events - Economy & Industry

1401day.year

The Taula de canvi (Catalan: "Table of change"), described as Europe's first-ever public bank, began operations inside Barcelona's Llotja de Mar.

Europe's first public bank, the Taula de canvi in Barcelona, began operations on January 20, 1401.
On this date in 1401, the Taula de canvi opened within the Llotja de Mar, Barcelona's 14th-century maritime trade center. Established by the city council, it provided services like deposits, transfers, and currency exchange. It played a crucial role in facilitating commerce between Catalonia and the wider Mediterranean. Unlike private banks, it was overseen by public officials to ensure transparency and stability. Merchants and artisans relied on its credit facilities to finance trade expeditions. The Taula's success inspired other European cities to create similar institutions. It is regarded as a pioneering model of public banking that shaped modern financial systems.
1401 Taula de canvi Barcelona Llotja de Mar
1909day.year

Newly formed automaker General Motors (GM) buys into the Oakland Motor Car Company, which later becomes GM's long-running Pontiac division.

In 1909, General Motors acquired a stake in the Oakland Motor Car Company, setting the foundation for the Pontiac brand.
On January 20, 1909, the newly formed General Motors, under the leadership of William C. Durant, invested in the Oakland Motor Car Company. The deal provided GM with a foothold in the emerging American automobile market. Oakland's models complemented GM's existing Buick and Oldsmobile brands. Over time, the Oakland division evolved into the Pontiac Motor Division, known for its performance vehicles. This acquisition marked one of GM's first major expansions and shaped its future corporate strategy. It signaled the beginning of GM's path to becoming a dominant force in global automotive manufacturing.
1909 General Motors Oakland Motor Car Company Pontiac