Long before banks came to existence ancient people such as the Romans performed all major financial operations. Loans, mortgage and credit – all these terms were common 2,000 years ago. Antique lenders calculated interest rates and fees for using their services. There were due dates and collaterals.

The biggest problem was debt. Just like today people missed their payments and became debtors. Although in some cases the government tried to protect their rights they had very good chances to become slaves.

A special form debt management was nexum – a debt bondage contract. The debtor himself acted as collateral for his loan. If the lender didn’t get his money back on time the debtor became a slave until he was able to pay back. Three times a month the debtor brought the nexus to the market place to hoping to find any relatives or friends that would be eager to pay the money back.