The Financial Crisis A Timeline of Events and Policy Actions
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. The Financial Crisis website provides information about major financial events and policy actions over the past months and will be updated as additional events and actions occur.
Map of Failed Banks - 2007 to Present
The Failed Banks map shows failed banks from 2007 to the present. A bank failure is the closing of a bank by a federal or state banking regulatory agency.
Typically, a bank is closed when it becomes critically undercapitalized or is unable to meet its obligations to depositors and others.
Data Sources: FDIC
Map of TARP Fund Distribution
The Troubled Assets Relief Program (TARP) was established under the EESA with the specific goal of stabilizing the United States financial system and
preventing a systemic collapse. Treasury has established several programs under the TARP to stabilize the financial system and has now created the Financial
Stability Program to further stabilize the financial system, restore the flow of credit to consumers and businesses and tackle the foreclosure crisis to
keep millions of Americans in their homes. The map includes the financial institutions that are receiving funds.
Data Sources: The US Department of the Treasury
Federal Reserve Bank of Minneapolis:
The Recession in Perspective
Compare the length and depth of the current recession with the previous 10 recessions (post-World War II).
This report is published eight times per year. Each Federal Reserve Bank gathers anecdotal information on current economic conditions in its District through reports from Bank and Branch directors and interviews with key business contacts, economists, market experts, and other sources. The Beige Book summarizes this information by District and sector.
The Research Division's Center for Regional Economics—8th District (CRE8®) produces a Burgundy Book for each of the regions surrounding its four offices. The Burgundy Books provide anecdotal information along with formal data and are released four times per year.
National Bureau of Economic Research
Determination of the December 2007 Peak in Economic Activity, announcement dated December 11, 2008.
Business Cycle Expansions and Contractions.
Financial Crisis and Recession
by Susan Woodward and Robert Hall
The Woodward and Hall website contains a blog and a frequently updated working paper on the financial crisis and recession.
International Monetary Fund - World Economic Outlook Reports
A Survey by the IMF staff usually published twice a year. It presents IMF staff economists' analyses of global economic developments during the near and medium term.
Chapters give an overview as well as more detailed analysis of the world economy; consider issues affecting industrial countries, developing countries, and economies
in transition to market; and address topics of pressing current interest. Annexes, boxes, charts, and an extensive statistical appendix augment the text.
OCED Business Cycle Analysis Database
This interface provides access to time series data for OECD Composite Leading Indicators (CLI), standardized consumer and business confidence indicators,
business tendency survey indicators by sector, and consumer opinion survey indicators as published in each monthly edition of the OECD Main Economic
Indicators. Accessing this source data will enable users to analyze in depth the development of business cycles within and across countries. Data for all OECD
Member countries (except Iceland), the Euro area, China, India, Indonesia, Brazil, South Africa, and the Russian Federation are available.
The World Bank: Prospects for the Global Economy
The World Bank's Prospects for the Global Economy web site is published twice yearly - in December and May. This website encompasses all information found in the forecast
chapter of their "Global Economic Prospects" and "Global Development Finance" publications, including information not available in the printed version,
such as full databases, regional annexes, analytical tools and statistical briefs among others.