The Darmstädter und Nationalbank, in shorthand Danat-BankorDanatbank, was a large German joint-stock bank. It was formed in 1922 from the merger of the Bank für Handel und Industrie (Darmstadt), known as Darmstädter Bank, and the Nationalbank für Deutschland. Its failure in July 1931 was a significant episode of the European banking crisis of 1931.[1][2][3]
Overview
[edit]Seal of Danat-Bank's branch in LeipzigDanat-Bank building at Behrenstrasse 5 in 1931Rush of savers from the Sparkasse of Berlin at Mühlendamm after the collapse of the Danatbank on 13 July 1931
In 1920/1921, the Darmstädter Bank für Handel und Industrie and the Nationalbank für Deutschland formed the bank union Darmstädter-Nationalbank Berlin. Both banks assumed a joint guarantee of capital and reserves of over 1 billion marks. The merger was fully completed in 1922, resulting in one of the largest commercial banks in Germany.
The collapse of Danatbank triggered a loss of confidence in the German banking system, and let loose a wave of withdrawals from all other banks beginning the German Banking Crisis. In reaction, the government announced a Bank Holiday starting on 13 July, imposed further capital controls and forced the merger of Danatbank with Dresdner Bank. [citation needed]
^Born, Karl Erich (1967). Die deutsche Bankenkrise 1931: Finanzen und Politik (in German). München: Piper.
^Pohl, Manfred (1982). Konzentration im deutschen Bankwesen (1848–1980) (in German). Frankfurt am Main: Knapp. ISBN978-3-7819-0269-5.
^Isabel Schnabel (2004), "The German Twin Crisis of 1931", Journal of Economic History, 64:3 (3), Cambridge University Press, on behalf of the Economic History Association: 822–871, JSTOR3874821
