Résumé en anglais

We construct a model in which a banking panic is triggered by the banker, not the depositors. When a banker receives a pessimistic information on the return of the bank s assets, he liquidates them prematurely in order to protect his capital. In the face of this liquidation, all depositors withdraw their funds prematurely. Such a panic occured in 1857. This kind of banking panic occurs at sufficiently capitalized banks.