"The Federal Reserve and other agencies have taken many steps to contain the ongoing financial crisis and limit its impact on the broader economy. It is critically important that we clearly communicate our actions to better ensure their success. This web site was created to provide the public with useful information about major financial events and policy actions, both over the past months and going forward."

St. Louis Fed President,
James Bullard

James Bullard's Web Site

Federal Reserve and Government Agency Links

This web site is updated frequently. Please check back for new features and information planned for early 2009.

Recent News

February 10, 2009

U.S. Treasury Secretary Timothy Geithner announces a Financial Stability Plan involving Treasury purchases of convertible preferred stock in eligible banks, the creation of a Public-Private Investment Fund to acquire troubled loans and other assets from financial institutions, expansion of the Federal Reserve’s Term Asset-Backed Securities Loan Facility (TALF), and new initiatives to stem residential mortgage foreclosures and to support small business lending.

February 10, 2009 | Federal Reserve Press Release

The Federal Reserve Board announces that is prepared to expand the Term Asset-Backed Securities Loan Facility (TALF) to as much as $1 trillion and broaden the eligible collateral to include AAA-rated commercial mortgage-backed securities, private-label residential mortgage-backed securities, and other asset-backed securities.  An expansion of the TALF would be supported by $100 billion from the Troubled Asset Relief Program (TARP).  The Federal Reserve Board will announce the date that the TALF will commence operations later this month.

February 6, 2009 | Federal Reserve Press Release

The Federal Reserve Board releases additional terms and conditions of the Term Asset-Backed Securities Loan Facility (TALF). Under the TALF, the Federal Reserve Bank of New York will lend up to $200 billion to eligible owners of certain AAA-rated asset-backed securities backed by newly and recently originated auto loans, credit card loans, student loans and SBA-guaranteed small business loans.

February 3, 2009 | Federal Reserve Press Release

The Federal Reserve announces the extension, through October 30, 2009, of the existing liquidity programs scheduled to expire on April 30, 2009. The Board of Governors and the FOMC note “continuing substantial strains in many financial markets.” In addition, the swap lines between the Federal Reserve and other central banks are also extended to October 30, 2009. The expiration date for the TALF remains December 31, 2009, and the TAF does not have an expiration date.