page_title: Danatbank
section_title: Danat-Bank
hierarchical_section_title: Danatbank / Danat-Bank
caption_attribution_description: For documentary purposes the German Federal Archive often retained the original image captions, which may be erroneous, biased, obsolete or politically extreme. Im Kampf um ihre Spareinlagen! Massenandrang der Sparer vor der städtischen Sparkasse in Berlin. Information added by Wikimedia users.English: A bank run as depositors of the Savings Bank of Berlin on Mühlendamm Street learn of the collapse of the Darmstadt and National Bank attempt to withdraw their savings.
context_page_description: The Darmstädter und Nationalbank was a German bank.
context_section_description: 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. By 1931 Danatbank had become the second largest bank in Germany, when it suffered a run which started around 17 June due to rumours of the insolvency of the Norddeutsche Wollkämmerei & Kammgarnspinnerei (North German Wool and Worsted Yarn Spinning Works), finally going bankrupt on 13 July 1931. It was thus one of the most prominent victims of Deflation in Germany during the Great Depression.
  The collapse of Danatbank triggered a loss of confidence in the German banking system, and loosed 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.
caption: Rush of savers from the Berliner Sparkasse at Mühlendamm after the collapse of the Danatbank on 13th July 1931
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