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Bank Run |
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Bank Run A situation in which numerous bank customers try to withdraw their bank deposits simultaneously and the bank's reserves are not sufficient to cover the withdrawals Notes: Bank runs are a result of panic.See also: Bank, Panic Selling Bank run (bank panic) A series of unexpected cash withdrawals caused by a sudden decline in depositor confidence or fear that the bank will be closed by the chartering agency, i.e. many depositors withdraw cash almost simultaneously. Since the cash reserve a bank keeps on hand is only a small fraction of its deposits, a large number of withdrawals in a short period of time can deplete available cash and force the bank to close and possibly go out of business. |
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| According to the International Monetary Fund (IMF), its economy is growing and poverty has fallen since a banking crisis at the beginning of the decade. So panicked were the members of American's economic elite about the banking crisis that on FDR's first day in office more than a dozen of them--prominent bankers, congressional committee chairmen, members of the Federal Reserve Board, and the top Treasury officials of both administrations--met and seemed to emerge with a consensus that Roosevelt should assume dictatorial control. In a down cycle, a mismanaged financial crisis may well lead to a major banking crisis. |
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Banking crisis
