Post date: Apr 11, 2013 9:52:34 PM
There is an excellent database on systemic banking crises by Laeven and Valencia (IMF, 2012).
"In total, we identify 147 banking crises, of which 13 are borderline events, over the period 1970–2011. We also count 218 currency crises and 66 sovereign crises over this period.
A banking crisis is defined as systemic if two conditions are met:
1) Significant signs of financial distress in the banking system (as indicated by significant bank runs, losses in the banking system, and/or bank liquidations)
2) Significant banking policy intervention measures in response to significant losses in the banking system.
We consider policy interventions in the banking sector to be significant if at least three out of the following six measures have been used:
1) extensive liquidity support (5 percent of deposits and liabilities to nonresidents)
2) bank restructuring gross costs (at least 3 percent of GDP)
3) significant bank nationalizations
4) significant guarantees put in place
5) significant asset purchases (at least 5 percent of GDP)
6) deposit freezes and/or bank holidays.
we consider a sufficient condition for a crisis episode to be deemed systemic when
either (i) a country’s banking system exhibits significant losses resulting in a share of nonperforming loans above 20 percent or bank closures of at least 20 percent of banking system assets)
or (ii) fiscal restructuring costs of the banking sector are sufficiently high exceeding 5 percent of GDP."