U.S. Banking Panics and Bank Failures (1930–1933)

1. First banking panic wave begins in late 1930

   Nov 1, 1930Labels: Small banks, Federal Reserve

   • Fed History

2. Caldwell-linked failures trigger a regional cascade

   Nov 17, 1930Labels: Caldwell and, Correspondent banks

   • Fed History

3. Bank of United States closes after major run

   Dec 11, 1930Labels: Bank of, New York

   • Fed History
   • EBSCO

4. Second panic wave spreads during spring–summer 1931

   Apr 1, 1931Labels: Bank suspensions, Rural credit

   • Encyclopedia com
   • Fed History

5. Britain leaves gold standard, straining U.S. gold

   Sep 21, 1931Labels: Britain gold, Gold standard

   • Fed History

6. Federal Reserve Bank of New York raises discount rate

   Oct 1, 1931Labels: Federal Reserve, Discount rate

   • Fed History

7. Reconstruction Finance Corporation created to lend to banks

   Jan 22, 1932Labels: Reconstruction Finance, Congress

   • Britannica
   • Fed History

8. Federal Reserve begins large open-market purchases

   Apr 1, 1932Labels: Federal Reserve, Open-market operations

   • Fed History

9. Statewide bank holidays begin as failures rise again

   Oct 31, 1932Labels: State bank, Nevada

   • Fed History

10. Michigan declares bank holiday, accelerating national crisis

    Feb 14, 1933Labels: Michigan bank, Detroit banks

    • Fed History

11. Roosevelt declares nationwide bank holiday

    Mar 6, 1933Labels: Franklin D, National bank

    • FDIC
    • LOC

12. Emergency Banking Act sets inspection and reopening framework

    Mar 9, 1933Labels: Emergency Banking, Federal inspections

    • NARA Hub
    • Time

13. First fireside chat encourages deposits as banks reopen

    Mar 12, 1933Labels: Fireside Chat, Franklin D

    • FDIC

14. Banking Act of 1933 creates FDIC and new safeguards

    Jun 16, 1933Labels: Banking Act, FDIC

    • Fed History
    • FDIC
    • LOC