The Rothschild banking family of France, along with other new investment banks, funded some of France's industrial and colonial expansion.[133] The Banque de France, founded in 1796, helped resolve the financial crisis of 1848 and emerged as a powerful central bank. The Comptoir National d'Escompte de Paris (CNEP) was established during the financial crisis and republican revolution of 1848. Its innovations included both private and public sources in funding large projects and the creation of a network of local offices to reach a much larger pool of depositors.