List of banking crises

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Number of countries having a banking crisis in each year since 1800. This is based on This Time Is Different: Eight Centuries of Financial Folly, which covers only 70 countries. The general upward trend might be attributed to many factors. One of these is a gradual historical increase in the percent of people who receive money for their labor. Another, elsewhere suggested reason related to more recent development trends and to banking crisis during modern era might be changes in the size of banking sector compared to overall GDP. The dramatic feature of this graph is the virtual absence of banking crises during the period of the Bretton Woods agreement, 1945 to 1971. This analysis is similar to Figure 10.1 in Reinhart and Rogoff (2009). For more details see the help file for "bankingCrises" in the Ecdat package available from the Comprehensive R Archive Network (CRAN).

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]

## Contents

* 1 Bank runs
* 2 Banking panics and systemic banking crises
* 2.1 18th century
* 2.2 19th century
* 2.3 20th century
* 2.4 21st century
* 3 See also
* 4 References
* 5 Notes

## Bank runs

Main page: Finance:List of 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
* 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
* Financial crisis of 2007–2008, 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
* Ghana banking crisis of 2017–2018
* 2023 global banking crisis

## See also

* List of economic crises
* List of bank runs

## References

Reinhart, Carmen M. (2009). This Time is Different: Eight Centuries of Financial Folly. Princeton University Press. ISBN 978-0-691-14216-6. https://archive.org/details/thistimeisdiffer00rein_0.

Taylor, Alan M. The great leveraging. NBER 18290

## Notes

1. ↑ Laeven L, Valencia F (2008). "Systemic banking crises: a new database". International Monetary Fund. http://www.imf.org/external/pubs/ft/wp/2008/wp08224.pdf.
2. ↑ Reinhart C, Rogoff K (2009). "Varieties of crises and their dates". This Time is Different: Eight Centuries of Financial Folly. Princeton University Press. pp. 3–20. ISBN 978-0-691-14216-6. http://mpra.ub.uni-muenchen.de/17452/1/MPRA_paper_17452.pdf. Retrieved 2009-11-28.

* v
* t
* e

Financial crises

* Banking panic
* Bear market
* Credit crunch
* Credit cycle
* Currency crisis
* Debt crisis
* Energy crisis
* Flash crash
* Hyperinflation
* Liquidity crisis
* Minsky moment
* Stock market crash

Pre–1000|

* Crisis of the Third Century (CE 235–284)

1000–1760|

* Great Bullion Famine (c. 1400–c. 1500)
* The Great Debasement (1544–1551)
* Kipper und Wipper (1621–1623)
* Tulip mania crash (1637)
* South Sea bubble crash (1720)
* Mississippi bubble crash (1720–1721)

1760–1840|

* Amsterdam banking crisis of 1763
* Bengal bubble crash (1769–1784)
* Crisis of 1772
* Dutch Republic financial collapse (c. 1780–1795)
* Panic of 1785
* Copper Panic of 1789
* Panic of 1792
* Panic of 1796–97
* Danish state bankruptcy of 1813
* Panic of 1819
* Panic of 1825
* Panic of 1837

1840–1870|

* Panic of 1847
* Panic of 1857
* Panic of 1866
* Black Friday (1869)

1870–1914|

* Panic of 1873
* Paris Bourse crash of 1882
* Panic of 1884
* Arendal crash (1886)
* Baring crisis (1890)
* Encilhamento (1890–1893)
* Panic of 1893
* Australian banking crisis of 1893
* Black Monday (1894)
* Panic of 1896
* Panic of 1901
* Panic of 1907
* Shanghai rubber stock market crisis (1910)
* Panic of 1910–11

1918–1939|

* Early Soviet hyperinflation (1917–1924)
* Weimar Republic hyperinflation (1921–1923)
* Shōwa financial crisis (1927)
* Wall Street Crash of 1929
* Panic of 1930

1945–1973|

* Kennedy Slide of 1962

1973–1982|

* 1970s energy crisis (1973–1980)
* 1973 oil crisis
* 1973–74 stock market crash
* Secondary banking crisis of 1973–1975
* Latin American debt crisis (1975–1982)
* 1976 IMF crisis
* 1979 oil crisis
* Brazilian hyperinflation (1980–1982)

1982–2007|

* Brazilian hyperinflation (1982–1994)
* Souk Al-Manakh stock market crash (1982)
* Chilean crisis of 1982
* 1983 Israel bank stock crisis
* Black Saturday (1983)
* Savings and loan crisis (1986–1995)
* Black Monday (1987)
* 1988–1992 Norwegian banking crisis
* Friday the 13th mini-crash (1989)
* Japanese asset price bubble crash (1990–1992)
* 1990 oil price shock
* Rhode Island banking crisis (1990–1992)
* 1991 Indian economic crisis
* 1990s Swedish banking crisis (1991–1992)
* 1990s Finnish banking crisis (1991–1993)
* 1990s Armenian energy crisis (1991–1995)
* Cuban Special Period (1991–2000)
* Black Wednesday (1992)
* 1992 Colombian energy crisis
* 1994 bond market crisis
* Venezuelan banking crisis of 1994
* Mexican peso crisis (1994)
* 1997 Asian financial crisis
* October 27, 1997 mini-crash
* 1998 Russian financial crisis
* 1998–99 Ecuador financial crisis
* Samba effect (1999)
* California electricity crisis (2000–01)
* Dot-com bubble crash (2000–2004)
* 2001 Turkish economic crisis
* 9/11 stock market crash (2001)
* Stock market downturn of 2002
* South American economic crisis of 2002
* 2002 Uruguay banking crisis
* 2003 Myanmar banking crisis
* 2000s energy crisis (2003–2008)
* 2004 Argentine energy crisis
* Nigerian energy supply crisis (2005–)
* 2007 Chinese stock bubble crash
* Zimbabwean hyperinflation (2007–)

2007–08|

* U.S. housing market correction (2006–07)
* 2008 Bulgarian energy crisis
* 2008 Central Asia energy crisis
* 2008 Latvian financial crisis
* 2008–09 Belgian financial crisis
* 2008–09 Russian financial crisis
* 2008–09 Ukrainian financial crisis
* 2008–2011 Icelandic financial crisis
* 2008–2011 Irish banking crisis
* 2008–2014 Spanish financial crisis
* European debt crisis
* Greek government-debt crisis
* Subprime mortgage crisis
* U.S. bear market of 2007–2009

Post–2008|

* 2009 Ecuador electricity crisis
* 2009 Dubai debt standstill
* Venezuelan banking crisis of 2009–10
* 2010 Flash Crash
* 2010–2014 Portuguese financial crisis
* Energy crisis in Venezuela (2010–)
* 2011 Tōhoku earthquake and tsunami stock market crash
* August 2011 stock markets fall
* 2011 Bangladesh share market scam
* 2012–13 Cypriot financial crisis
* 2013 Chinese banking liquidity crisis
* Venezuela economic crisis (2013–)
* Gaza electricity crisis (2013–)
* 2014–2016 Brazilian economic crisis
* Puerto Rican government-debt crisis (2014–)
* 2014–2017 Russian financial crisis
* 2015–16 Chinese stock market turbulence
* 2015–16 stock market selloff
* Zulia energy collapse (2015–)
* Brexit stock market crash (2016)
* 2016 Southeastern U.S. gas shortage
* Venezuelan hyperinflation (2016–)
* 2017 Sri Lankan fuel crisis
* Ghana banking crisis (2017–18)
* 2018 cryptocurrency crash
* 2018 Turkish currency and debt crisis

* List of banking crises
* List of economic crises
* List of sovereign debt crises
* List of stock market crashes and bear markets

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