All Financial Panics and Banking Crises

Episodes in which a banking system or stock market seizes up under a sudden loss of confidence, forcing bank failures, suspended payments or a market crash, the banking-crisis category of the discipline's own crisis taxonomy (after Reinhart and Rogoff, This Time Is Different, 2009). Belongs here: a panic, bank run or market crash whose own defining mechanism is a collapse of confidence in banks or securities markets, from the nineteenth-century United States panics through 2008. Does not belong here: an episode whose own defining mechanism is a speculative asset bubble bursting before any banking failure, grouped under Speculative Bubbles, or a sovereign default or currency collapse with no domestic banking panic, grouped under Sovereign Debt and Currency Crises.