List of banking crises
None
This is a list of banking crises . A banking crisis is a financial crisis that affects banking activity. Banking crises include bank runs , which affect single banks; banking panics, which affect many banks; and systemic banking crises, in which a country experiences many defaults and financial institutions and corporations face great difficulties repaying contracts. [1] A banking crisis is marked by bank runs that lead to the demise of financial institutions, or by the demise of a financial institution that starts a string of similar demises. [2]
Bank runs
A bank run occurs when many bank customers withdraw their deposits because they believe the bank might fail. There have been many runs on individual banks throughout history; for example, some of the 2008–2009 bank failures in the United States were associated with bank runs.
Banking panics and systemic banking crises
18th century
- Crisis of 1763 , started in Amsterdam, begun by the collapse of Johann Ernst Gotzkowsky and Leendert Pieter de Neufville 's bank, spread to Germany and Scandinavia
- British credit crisis of 1772-1773 in London and Amsterdam, begun by the collapse of the bankers Neal, James, Fordyce and Down .
- Panic of 1792 , New York
- Panic of 1796–1797 , Britain and United States
19th century
- Panic of 1819 , a U.S. recession with bank failures; culmination of U.S.'s first boom-to-bust economic cycle
- Panic of 1825 , a pervasive British recession in which many banks failed, nearly including the Bank of England
- Panic of 1837 , a U.S. recession with bank failures, followed by a 5-year depression
- Panic of 1847 , United Kingdom
- Panic of 1857 , a U.S. recession with bank failures
- Panic of 1866 , Europe
- Panic of 1873 , a U.S. recession with bank failures, followed by a 4-year depression
- Panic of 1884 , United States and Europe
- Panic of 1890 , mainly affecting the United Kingdom and Argentina
- Panic of 1893 , a U.S. recession with bank failures
- Australian banking crisis of 1893
- Panic of 1896 , acute U.S. recession
20th century
- Panic of 1901 , a U.S. economic recession that started a fight for financial control of the Northern Pacific Railway
- Panic of 1907 , a U.S. economic recession with bank failures
- Shōwa Financial Crisis , a 1927 Japanese financial panic that resulted in mass bank failures across the Empire of Japan .
- Great Depression , the worst systemic banking crisis of the 20th century
- Secondary banking crisis of 1973–1975 in the UK
- Japanese asset price bubble (1986–2003)
- Savings and loan crisis of the 1980s and 1990s in the U.S.
- 1988–1992 Norwegian banking crisis
- Finnish banking crisis of 1990s
- Sweden financial crisis 1990–1994
- Rhode Island banking crisis
- Peruvian banking crisis of 1992
- Venezuelan banking crisis of 1994
- 1997 Asian financial crisis
- 1998 collapse of Long-Term Capital Management
- 1998 Russian financial crisis
- 1998–2002 Argentine great depression
- 1998–1999 Ecuador economic crisis
21st century
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- Subprime mortgage crisis in the U.S. starting in 2007
- 2008 United Kingdom bank rescue package
- 2009 United Kingdom bank rescue package
- 2008–2009 Belgian financial crisis
- 2008–2011 Icelandic financial crisis
- Great Recession in Russia
- 2008–2009 Ukrainian financial crisis
- 2008–2014 Spanish financial crisis
- Post-2008 Irish banking crisis
See also
References
Reinhart, Carmen M. ; Rogoff, Kenneth S. (2009). This Time is Different: Eight Centuries of Financial Folly . Princeton University Press. ISBN 978-0-691-14216-6 .
Taylor, Alan M. The great leveraging . NBER 18290
Notes
- ↑ Laeven L, Valencia F (2008). "Systemic banking crises: a new database" (PDF) . IMF WP/08/224. International Monetary Fund . Retrieved 2008-09-29 .
- ↑ Reinhart C, Rogoff K (2009). "Varieties of crises and their dates" (PDF) . This Time is Different: Eight Centuries of Financial Folly . Princeton University Press. pp. 3–20. ISBN 978-0-691-14216-6 . Retrieved 2009-11-28 .