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The financial crisis of 2007–2010 resulted in bad banks being set up in several countries.

For example, a bad bank was suggested as part of the Emergency Economic Stabilization Act of 2008 to help address the subprime mortgage crisis in the US.

The Swedish authorities engaged Mc Kinsey & Company to help design a solution, and chose to establish two bad banks, Retriva and Securum.

Retriva took over all the nonperforming loans from Gota Bank and Securum took over the non-performing loans from Nordbanken, with the good bank operations continuing as Nordea.

A bank may accumulate a large portfolio of debts or other financial instruments which unexpectedly increase in risk, making it difficult for the bank to raise capital, for example through sales of bonds.

The 2008–09 Belgian financial crisis is a major financial crisis that hit Belgium from mid-2008 onwards.The bad assets were left behind, effectively creating a bad bank with the original Parex Banka name and no retail depositors.The Parex "bad bank," its core retail functions stripped out by the 2010 split, gave up its banking licence in 2012 to become professional distressed asset management company Reverta.The goal of the segregation is to allow investors to assess the bank's financial health with greater certainty.A bad bank might be established by one bank or financial institution as part of a strategy to deal with a difficult financial situation, or by government or some other official institution as part of an official response to financial problems across a number of institutions in the financial sector.

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