Because of the lack of reparation payments by Germany, France occupied the Ruhr in 1923 to enforce payments, causing an international crisis. It was resolved by American intervention in the form of the Dawes Plan in 1924. This plan set out a new payment method. New York banks loaned Germany money that was used to pay reparations and rebuild its heavy industry. Despite this, by 1928 Germany called for a new payment plan, resulting in the Young Plan that established the German reparation requirements at 112 billion marks () and created a schedule of payments that would see Germany complete payments by 1988. With the collapse of the German economy in 1931, reparations were suspended for a year and in 1932 during the Lausanne Conference they were cancelled altogether. Between 1919 and 1932, Germany paid less than 21 billion marks in reparations. After 1953 West Germany paid the entire remaining balance.