1866 CE
Overend Gurney failure and the 1866 panic
Money, banking & finance · Banca, liquidez y crisis
Overend Gurney, one of London’s largest discount houses, suspended payment on 10 May 1866. The Bank of England declined to assist the insolvent firm but lent to refinance viable banks and brokers. The episode stimulated debates on liquidity, moral hazard, and last resort; it does not show that every financial rescue follows one rule.
Precision, calendar, and review
- Start
- year · no uncertainty qualifier in this record
- Calendar and convention
- Historical-era years; the source calendar is not identified. No conversion of days is assumed.
- Year zero
- The scale goes from 1 BCE to 1 CE without year zero. Changing era names changes labels only.
- Documentary review
- Date not recorded
Reading the date: point event.
Sources
- www.bankofengland.co.uk (opens in a new tab)
Source provenance and scope
- Publication date
- 2016-07-05
- What this date describes
- The cited source or edition; it may postdate the historical event.
- Bibliographic date checked
- 2026-09-23
The correspondence between this reference and individual claims has not yet been itemized.
This record is an editorial synthesis. Consult the sources to check claims and their limits. Chronological relationships alone do not establish causation.