Source: National Bureau of Economic Research  

Release: NBER Macrohistory Database  

Units:  Millions of Dollars, Not Seasonally Adjusted

Frequency:  Monthly

Data Cover Banks Closed On Account Of Financial Difficulties By Order Of Supervisory Authorities Or By Direction Of Bank. Figures Include Banks Subsequently Reopened. Voluntary Liquidations Are Excluded. Deposits Include All Funds Owed Depositors But Do Not Include Amounts Borrowed From Other Banks. In The Autumn Of 1931, The National Credit Corporation Was Formed Under The Sponsorship Of Banks, To Make Loans To Banks In Difficulty. In February 1932, The Reconstruction Finance Corporation Was Formed, Leading To A Reduction In The Rate Of Suspensions (See 1932 Report). Coverage Ends In February 1933, Due To Banking Legislation Enacted In March (Emergency Banking Act) Which Render Later Data Incomparable. Source: Federal Reserve Board, Annual Report, 1932, Pp. 152-154, And 1933, P. 223.

This NBER data series m09040 appears on the NBER website in Chapter 9 at http://www.nber.org/databases/macrohistory/contents/chapter09.html.

NBER Indicator: m09040