The number of defaulting financial institutions globally during the recent crisis was unprecedented, according to Moody’s Investors Service. Between 2008 and 2010, 111 firms failed, including 72 debt issuers holding $318 billion of bonds and loans. In contrast, between 1983 and 2007, there were only 96 defaults affecting $46 billion of debt, with a little more than one-third of the total occurring in between 1989 and 1991 as a result of the savings and loan crisis in the U.S.

Click here to read the release from Moody’s.