Trying again for some meaningful comparative perspective: deposits in failed banks, excluding temporary suspensions, rendered as a percentage of nominal GDP.

Source for deposits: Gary Richardson, “Quarterly Data on the Categories and Causes of Bank Distress during the Great Depression,” NBER Working Paper no. 12715, table 6, p. 45; 1933 figure is only for winter quarter. Source for GDP: Measuring Worth.

 

Notice how you can’t really see the voluntary liquidations and consolidations? That’s because it’s almost all terminal suspensions.

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