Which British banking firm collapsed in 1890, causing the Baring Crisis?

Baring Brothers collapsed in 1890, causing the Baring Crisis.

The London merchant bank had accumulated large exposures to Argentine securities and infrastructure projects. Political and economic instability in Argentina undermined those investments, leaving Baring Brothers unable to meet its obligations. The failure threatened broader confidence in London’s financial system because the firm was a major institution in international finance.

The Bank of England organized a rescue fund with support from other banks and the government. The intervention helped prevent a wider banking collapse and is an early example of coordinated lender-of-last-resort action. The crisis did not become a prolonged global depression, but it revealed how overseas lending could transmit problems back to London. It is distinct from the 1866 crisis involving Overend, Gurney and Company.