Source: National Bureau of Economic Research  

Release: NBER Macrohistory Database  

Units:  Number, Not Seasonally Adjusted

Frequency:  Monthly

Data Reflect Banks Closed On Account Of Financial Difficulties By Order Of Supervisory Authorities Or By Directors Of The Bank. Data Include Banks Subsequently Reopened, But Do Not Include Voluntary Liquidations. The Coverage Ends In February 1933, Due To Banking Legislation Enacted In March Which Renders Further Data Incomparable (The Emergency Banking Act). 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). Source: Federal Reserve Board, Annual Reports, 1932, Pp. 152-154, And 1933, P. 223.

This NBER data series m09038 appears on the NBER website in Chapter 9 at http://www.nber.org/databases/macrohistory/contents/chapter09.html.

NBER Indicator: m09038