4 October 2011
Opportunities Exist to Strengthen Policies and Processes for Managing Emergency Assistance
In this report the author evaluates the emergency assistance the US Federal Reserve System provided to certain financial markets and financial institutions during the financial crisis that began in summer 2007. From late 2007 through mid-2010, Reserve Banks provided more than a trillion dollars in emergency loans to the financial sector to address strains in credit markets and to avert failures of individual institutions believed to be a threat to the stability of the financial system.
Orice W Brown
US Government Accountability Office (GAO), Washington, DC