That was blowback from the huge war reparations assessed on Germany after Versailles. The bankruptcy and subsequent (quasi)nationalization of Creditanstalt was the first of many international banks to fail in a domino effect, and beggared the German Republic allowing an opening for Hitler, who blamed Jews in banking. Creditanstalt was owned by the Rothschild family, and in 1938 the current Rothschild was imprisoned following the Austrian Anschluss. In 1939 he was allowed to emigrate to the US.

So the Creditanstalt collapse, though it was a key "domino", was triggered by the finance and banking collapses in the US after the 1929 Crash. Creditanstalt is still a way to blame Jews for the Great Depression and WW II.

For me, the lesson is that trade and finance are internationally linked, and any tampering with the free trade of currency and goods is a very bad thing.