This is a list of bank runs. A bank run occurs when a large number of bank customers withdraw their deposits because they believe the bank might fail. As more people withdraw their deposits, the likelihood of default increases, and this encourages further withdrawals. This can destabilize the bank to the point where it faces bankruptcy. 17th century In 1656, after several attempts, Johan Palmstruch was given permission by the Crown of Sweden to start a bank, Stockholm Banco. In 1661 it became the first in Europe to give out banknotes. As lending rose rapidly in just a few years, the value of the banknotes began to fall. In 1664 the bank closed operations, unable to give back the customers money. Palmstruch was imprisoned, the Crown took over the bank, and formed what is still today Riksens Ständers Bank, the national bank of Sweden, operated by the parliament. 19th century In 1866, Overend, Gurney and Company suffered a bank run. It incorporated as a limited liability company in 1865, but with poor railway stock prices, it suffered losses. Assistance from the Bank of England was refused, and payments were suspended on 10 May 1866. A panic ensued. The town's people were disappointed that they couldn't get their money from the banks. 1920s The Shōwa Financial Crisis was triggered in January 1927 when the Bank of Japan proposed to redeem discounted bonds it had issued to overextended banks in the wake of the Great Kantō earthquake. The news resulted in rumors that banks holding such bonds would go bankrupt. The ensuing bank runs led to the fall of 37 banks across the Empire of Japan and the resignation of Prime Minister Wakatsuki Reijirō. 1930s Many bank runs occurred during the Great Depression. 1970s In 1973, Toyokawa Shinkin Bank incident in Japan: in December of that year, a bank run occurred on Toyokawa Shinkin Bank because of a rumor that the bank will go into bankruptcy. 1990s In early 1994 thousands of clients rushed to Spain to withdraw their money. Banesto was taken into control by the Bank of Spain when they discovered a 450,000 million Pesetas (€2,704 million) equity hole in bank's finances. Between 1997 and 1999, several bank runs happened at MBf Finance Berhad in Malaysia, the biggest finance company in the country during that time. Many of the finance company's 120 branches saw runs on their deposits, totalling about