FinObservatory

Crisis atlas / GBR / 2007–2014

United Kingdom, 2007–2014

One crisis episode: distinct crisis years merged across gaps of up to two non-crisis years. Types, source agreement, and macro context are drawn from the union of five primary chronologies.

BankingCurrency

Crisis years in this episode

Every distinct (year, type) event inside the 2007–2014 window, with the chronologies flagging it and the count of agreeing sources. Start-year sources (GMD, JST) mark only the first year, so agreement falls in the continuation years.

  1. 2007
    Bankingesrb, jst, laeven_valencia, rr4 sources
  2. 2008
    Bankingesrb, gmd, laeven_valencia, rr4 sources
    Currencyrr1 source
  3. 2009
    Bankingesrb, laeven_valencia, rr3 sources
  4. 2010
    Bankingesrb, laeven_valencia, rr3 sources
  5. 2011
    Bankinglaeven_valencia, rr2 sources
  6. 2012
    Bankingrr1 source
  7. 2013
    Bankingrr1 source
  8. 2014
    Bankingrr1 source

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) | Jordà-Schularick-Taylor Macrohistory R6 | Laeven & Valencia (2020, 2026) | Reinhart-Rogoff via HBS BFFS | ECB/ESRB Financial Crises Database Methodology

Laeven-Valencia banking-crisis detail

Episode-level fiscal cost and output loss from the systemic banking crises database. Fiscal cost is the gross outlay of banking-sector rescues; output loss is the cumulative deviation of real GDP from its pre-crisis trend, both as a percent of GDP.

Banking episode 2007–2011
8.8%
Fiscal cost, % of GDP
25.3%
Output loss, % of GDP
2011
Episode end year

Source: Laeven & Valencia (2026), IMF WP/26/94, Systemic Banking Crises Database 1970-2025 Methodology

Macro context, 20002021

Seven years either side of the episode. Each panel has its own scale; the crisis window is shaded. Only indicators with data for United Kingdom in this window are shown. Bank credit growth (year over year in total loans) is available for the 18 Jordà-Schularick-Taylor advanced economies.

Inflation (% y/y)
0246200020072021
Real GDP growth (% y/y)
-20-10010200020072021
Policy rate (%)
0246200020072021
Govt debt (% of GDP)
050100150200020072021
Unemployment (%)
0510200020072021
Current account (% of GDP)
-6-4-20200020072021
Bank credit growth (% y/y)
-1001020200020072021

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) | Jordà-Schularick-Taylor Macrohistory R6 (credit) Real GDP growth is derived as the year-over-year change in real GDP; current account and government debt are percent of GDP; policy rate is the central-bank rate; bank credit growth is the year-over-year change in JST total loans. Methodology

How each source dates this episode

The chronologies disagree on start years and durations. This table is generated from the event rows, not curated: it lists, per crisis type, which source flags which years inside the window.

Banking
  • ECB/ESRB2007, 2008, 2009, 2010
  • Jordà-Schularick-Taylor2007
  • Laeven-Valencia2007, 2008, 2009, 2010, 2011
  • Reinhart-Rogoff2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014
  • Global Macro Database2008
Currency
  • Reinhart-Rogoff2008

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) | Jordà-Schularick-Taylor Macrohistory R6 | Laeven & Valencia (2020, 2026) | Reinhart-Rogoff via HBS BFFS | ECB/ESRB Financial Crises Database Methodology

Documented policy responses

12 interventions from the Metrick-Schmelzing banking-crisis database whose recorded year falls inside this episode window (2007–2014). Each row is one documented government or central-bank action, tagged with the database’s own intervention categories and short code, under the crisis code it assigns. Matching is exact: same country, intervention year inside the window. The database’s global-crisis rows (no country) are never matched here.

GBR-2007United Kingdom
  1. Sep-2007LendingAHEL
  2. Oct-2008GuaranteesOLG
  3. Oct-2008Capital injectionsBBCI
  4. Oct-2008GuaranteesASG
  5. Oct-2008LendingAHEL
  6. Oct-2008GuaranteesOLG
  7. Apr-2008LendingBBEL
  8. Mar-2009LendingMLA
  9. Feb-2009LendingMLA
  10. Feb-2009RestructuringRES
  11. Oct-2010Asset managementBBAM
GBR-2013United Kingdom
  1. Jun-2013RestructuringBAIL

Source: Metrick-Schmelzing Banking-Crisis Interventions Database (Yale Program on Financial Stability) Cite as: Metrick, Andrew, and Paul Schmelzing, "Banking-Crisis Interventions Across Time and Space," working paper, 2024 (dataset consulted 2026-07-10). License: Creative Commons attribution. Methodology

Policy-response case studies (external)

For qualitative accounts of how authorities intervened in systemic crises, see the Yale Program on Financial Stability New Bagehot Project, a library of financial-crisis intervention case studies. It is a separate qualitative resource; no specific case is asserted to match this episode.