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 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
- 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