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Banking, Currency, and Finance in Europe Between the Wars$
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Charles H. Feinstein

Print publication date: 1995

Print ISBN-13: 9780198288039

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198288034.001.0001

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Banking in France in the Inter‐War Period

Banking in France in the Inter‐War Period

(p.315) 11 Banking in France in the Inter‐War Period
Banking, Currency, and Finance in Europe Between the Wars

Michel Lescure (Contributor Webpage)

Oxford University Press

The inter‐war years were a period of decay for the French banks. Their problems began during the inflationary years of the First World War and continued until the stabilization of the franc in 1926. There was a sharp fall in the total assets of the banking system relative to the national income and in the real value of their capital funds, and also a reduction in the share of their resources devoted to loans and credits to enterprises. There was a limited recovery at the end of the 1920s, but then a succession of crises, first in 1930 and 1931 and then again in 1934. The crises were relatively mild but particularly affected the universal banks, and the smaller regional and personal banks, rather than the large joint‐stock banks and the specialized banks.

Keywords:   assets, banks, banking crises, banking system, capital, currency stabilization, First World War, France, inflation, loans

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