Ever since the financial crisis began in mid-2007, commentators have sought parallels in the hope of finding a template for curing sick banks, especially in the US and UK. The obvious examples are the banking crises in the US in the 1930s, Sweden in the early 1990s and Japan later that decade.
In terms of size and complexity, these crises are probably the most comparable with the one today. There is, however, another example that policymakers should pore over.
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