Overend, Gurney and Company

Overend, Gurney and Company
Company typePublic
IndustryFinance
Founded1800 (1800)
FounderThomas Richardson
John Overend
Defunct10 May 1866 (1866-05-10)
FateBankruptcy
Headquarters65 Lombard Street,
London, UK
Area served
United Kingdom
ServicesFinancial services

Overend, Gurney & Company was a London wholesale discount bank, known as "the bankers' bank", which collapsed in 1866 owing about £11 million, equivalent to £1,287 million in 2023.[1] The collapse of the institution triggered a banking panic.[2]

  1. ^ UK Retail Price Index inflation figures are based on data from Clark, Gregory (2017). "The Annual RPI and Average Earnings for Britain, 1209 to Present (New Series)". MeasuringWorth. Retrieved 7 May 2024.
  2. ^ Schneider, Sabine (2021). "The politics of last resort lending and the Overend & Gurney crisis of 1866". The Economic History Review. 75 (2): 579–600. doi:10.1111/ehr.13113. ISSN 1468-0289.