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List of banking crises

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Number of countries having a banking crisis in each year since 1800. This is based onThis 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 theBretton 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 theComprehensive R Archive Network (CRAN).

This is alist of banking crises. A banking crisis is afinancial crisis that affects banking activity. Banking crises includebank 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

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Main article:List of bank runs

Abank run occurs when many bank customers withdraw theirdeposits because they believe the bank might fail. There have been many runs on individual banks throughout history; for example, some of the2008–2009 bank failures in the United States were associated with bank runs.

Banking panics and systemic banking crises

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17th century

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Dutch banking crisis of 1672,Rampjaar financial turmoil. Middelburg bank suspended payments amid wartime runs. TheBank of Amsterdam faced a bank run but remained solvent.^[3]

18th century

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Bern banking crisis of 1720, the collapse of two Bernese banks (Malacrida andMüller) due to speculative losses tied to theMississippi andSouth Sea bubbles.^[4]
Crisis of 1763, started in Amsterdam, begun by the collapse ofJohann Ernst Gotzkowsky andLeendert 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 bankersNeal, James, Fordyce and Down.
Panic of 1792, New York
Panic of 1796–1797, Britain and United States

19th century

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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 theBank 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

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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 Japanesefinancial panic that resulted in mass bank failures across theEmpire 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
1994Mexican peso crisis
1997 Asian financial crisis
- Enping financial crisis
1998 collapse ofLong-Term Capital Management
1998 Russian financial crisis
1998–2002 Argentine great depression
1998–1999 Ecuador economic crisis

21st century

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References

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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

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^Laeven L, Valencia F (2008)."Systemic banking crises: a new database"(PDF). IMF WP/08/224. International Monetary Fund. Retrieved2008-09-29.
^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. Retrieved2009-11-28.
^Van Nieuwkerk, Marius; Kroeze, Cherelt (2009).The Bank of Amsterdam: on the origins of central banking. Nederlandsche bank. Arnhem: Sonsbeek. p. 135.ISBN 978-90-78217-13-8.
^"Former Association for Financial History (Switzerland and Principality of Liechtenstein)".www.finanzgeschichte.ch. Retrieved2025-08-11.

v t e Financial crises
Bank run Commodity price shocks Credit crunch Credit cycle Currency crisis Debt crisis Energy crisis Financial contagion Social contagion Flash crash Hyperinflation Liquidity crisis Accounting Capital Funding Market Minsky moment Social crisis Stock market crash
Pre-1000	Financial crisis of 33 CE Crisis of the Third Century (235–284 CE)
Commercial revolution (1000–1760)	Great Bullion Famine (c. 1400–c. 1500) The Great Debasement (1544–1551) Spanish Price Revolution (c. 1550–c. 1650) Dutch Republic stock market crashes (c. 1600–1760) Kipper und Wipper (1621–1623) Tulip mania (1637) South Sea bubble (1720) Mississippi bubble (1720)
1st Industrial Revolution (1760–1840)	Amsterdam banking crisis of 1763 Bengal Bubble of 1769 (1769–1784) British credit crisis of 1772–1773 Dutch Republic financial collapse (c. 1780–1795) Copper Panic of 1789 Panic of 1792 Panic of 1796–1797 Danish state bankruptcy of 1813 Post-Napoleonic Irish grain price and land use shocks (1815–1816) Panic of 1819 Panic of 1825 Panic of 1837
1840–1870	European potato failure (1845–1856) Great Irish Famine Highland Potato Famine Panic of 1847 Panic of 1857 Panic of 1866 Black Friday (1869)
2nd Industrial Revolution (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 Financial crisis of 1914
Interwar period (1918–1939)	Early Soviet hyperinflation (1917–1924) Weimar Republic hyperinflation (1921–1923) Shōwa financial crisis (1927) Wall Street crash of 1929 Panic of 1930 Chinese hyperinflation (1937–1950)
Wartime period (1939–1945)	Greek hyperinflation (1941–1946) Chinese hyperinflation (1937–1950)
Post–WWII expansion (1945–1973)	Hungarian pengő hyperinflation (1945–1946) Kennedy Slide of 1962 1963–1965 Indonesian hyperinflation Chinese hyperinflation (1937–1950)
Great Inflation (1973–1982)	1970s energy crisis (1973–1980) 1973 oil crisis 1973–1974 stock market crash Secondary banking crisis of 1973–1975 Steel crisis (1973–1982) Latin American debt crisis (1975–1982) 1976 sterling crisis 1979 oil crisis Brazilian hyperinflation (1980–1982)
Great Moderation/ Great Regression (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) Cameroonian economic crisis (1987–2000s) Black Monday (1987) 1988–1992 Norwegian banking crisis Japanese asset price bubble crash (1990–1992) Rhode Island banking crisis (1990–1992) 1991 Indian economic crisis 1990–1994 Swedish financial crisis 1990s Finnish banking crisis 1990s Armenian energy crisis Cuban Special Period (1991–2000) Black Wednesday (1992 Sterling crisis) Hyperinflation in Serbia and Montenegro (1992–1994) 1994 bond market crisis Venezuelan banking crisis of 1994 1994 Papua New Guinea financial crisis Mexican peso crisis (1994–1996) 1997 Asian financial crisis October 27, 1997, mini-crash 1998 Russian financial crisis 1998–1999 Ecuador economic crisis 1998–2002 Argentine great depression Samba effect (1999) Dot-com bubble (2000–2004) 9/11 stock market crash (2001) 2001 Turkish economic crisis South American economic crisis of 2002 Stock market downturn of 2002 2002 Uruguay banking crisis 2003 Myanmar banking crisis 2000s energy crisis (2003–2008) 2004 Argentine energy crisis Chinese stock bubble of 2007 Hyperinflation in Zimbabwe (2007–present)
Great Recession (2007–2009)	2008 financial crisis September 2008 October 2008 November 2008 December 2008 2009 Subprime mortgage crisis 2000s U.S. housing market correction U.S. bear market of 2007–2009 2008 Latvian financial crisis 2008–2009 Belgian financial crisis Great Recession in Russia 2008–2009 Ukrainian financial crisis 2008–2011 Icelandic financial crisis Post-2008 Irish banking crisis 2008–2014 Spanish financial crisis Blue Monday Crash 2009 Euro area crisis Greek government-debt crisis
Information Age (2009–present)	2009 Dubai debt standstill Venezuelan banking crisis of 2009–2010 2010–2014 Portuguese financial crisis Energy crisis in Venezuela (2010–present) Syrian economic crisis (2011–present) August 2011 stock markets fall 2011 Bangladesh share market scam 2012–2013 Cypriot financial crisis Chinese Banking Liquidity Crisis of 2013 Venezuela economic crisis (2013–present) 2014 Brazilian economic crisis Puerto Rican government-debt crisis (2014–2022) Russian financial crisis (2014–2016) 2015–16 Nepal blockade 2015–2016 Chinese stock market turbulence 2015–2016 stock market selloff Brexit stock market crash (2016) Hyperinflation in Venezuela (2016–2022) 2017 Sri Lankan fuel crisis Ghana banking crisis (2017–2018) Turkish economic crisis (2018–current) Lebanese liquidity crisis (2019–present) Sri Lankan economic crisis (2019–2024) COVID-19 pandemic Financial market impact 2020 stock market crash Recession Chinese property sector crisis (2020–present) 2021–2023 inflation surge 2022 Russian financial crisis Pakistani economic crisis (2021–2024) 2022 stock market decline German economic crisis (2022–present) 2023 United States banking crisis 2023–2024 Egyptian financial crisis 2025 stock market crash
List of banking crises List of economic crises List of sovereign debt crises List of stock market crashes and bear markets