It took thousands of years for the money and credit system to develop. In the year 995 the first Swedish coin was struck in Sigtuna and during the Middle Ages trade between countries in Europe was facilitated by the use of bills of exchange.
During the Middle Ages the concept of banking spread from Italy to northern Europe. It was at the beginning of the 17th century that the first proposals to found a bank in Sweden arose. The chancellor of the realm, Axel Oxenstierna played an important role in this. At the 1642 Riksdag (parliament), Oxenstierna emphasised the benefit of a bank for those who needed to deposit or to borrow money.
Time axis
| 995 |
The first Swedish coins are minted in the town of Sigtuna.
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| Middle ages |
Bills of exchange simplify long-distance trade in Europe.
|
1200–1300 |
Banks are established in Italian city states.
|
| 1609 |
The Amsterdamsche Wisselbank i founded.
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| 1611/1612 |
Accession of Gustav II Adolf, Axel Oxenstierna is appointed chancellor.
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| 1619 |
Axel Oxenstierna proposes " a bank in every town or at least in the foremost". |