Financial Crisis

Essay specific features

 

Issue:

Social Issues

 

Written by:

Deborah L

 

Date added:

December 10, 2014

 

Level:

University

 

Grade:

B

 

No of pages / words:

4 / 863

 

Was viewed:

7689 times

 

Rating of current essay:

 
Essay content:

Since banks lend out most of the cash they receive in deposits (see fractional-reserve banking), it is difficult for them to quickly pay back all deposits if these are suddenly demanded, so a run may leave the bank in bankruptcy, causing many depositors to lose their savings unless they are covered by deposit insurance...
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A situation in which bank runs are widespread is called a systemic banking crisis or just a banking panic. A situation without widespread bank runs, but in which banks are reluctant to lend, because they worry that they have insufficient funds available, is often called a credit crunch. Examples of bank runs include the run on the Bank of the United States in 1931 and the run on Northern Rock in 2007...
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