"Three years ago the International Monetary Fund examined the 40 global banking crises that occurred in recent decades, and concluded that 'fiscal costs, net of recoveries, associated with crisis management ... [were] about 13.3 per cent of gross domestic product on average and can be as high as 55.1 per cent,' with an average recovery rate of '18.2 per cent of gross fiscal costs'. The US Savings & Loans crisis, for example, delivered a fiscal hit of 3 per cent. This time, however, the bill is under 1 per cent."
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