List of banking crises

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. 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.

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

17th century

• Dutch banking crisis of 1672, Rampjaar financial turmoil. Middelburg bank suspended payments amid wartime runs. The Bank of Amsterdam faced a bank run but remained solvent.

18th century

• Bern banking crisis of 1720, the collapse of two Bernese banks (Malacrida and Müller) due to speculative losses tied to the Mississippi and South Sea bubbles.
• 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
• Black Friday (1869), a gold panic that triggered a recession in the U.S.
• Panic of 1873, a financial crisis in Europe and the U.S.
• 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
• 1919–1922 Philippine financial crisis
• 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)
• Latin American debt crisis in the early 1980s
• 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
• 1994 Mexican peso crisis
• 1997 Asian financial crisis
• Enping 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

• 2002 Uruguay banking crisis
• 2003 Myanmar banking crisis
• 2008 financial crisis, including:

*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

• Venezuelan banking crisis of 2009–2010
• 2012–2013 Cypriot financial crisis
• Ghana banking crisis of 2017–2018
• 2022 Henan banking crisis
• 2023 United States banking crisis

See also

• List of economic crises
• List of bank runs

References

Taylor, Alan M. The great leveraging. NBER 18290

Notes