So, there is a lot that individual banks can improve if they are to regain the trust of customers and the public, not least by setting an example and leading from the front. 2  The Gordian knot  But what can the state do?
Investors could not refinance themselves other than through fire sales of distressed assets. Amsterdam bank houses went bankrupt and merchants suffered significant losses.1 The 1763 crisis has some important resemblances with today’s crisis. In the first stage of today’s crisis, liquidity was at the epicentre. Money markets seized up and several market participants found themselves unable to roll-over funding positions.