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The Alphabet Soup Explained: An Analysis of the Special Lending Facilities at the Federal Reserve

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  • Matthew Sherman

Abstract

This paper looks at the trends in activity at the Federal Reserve’s newly-created special lending facilities, hoping to provide a better understanding of their operation and significance within financial markets. These facilities were created in response to the financial crisis and have expanded the Fed's balance sheet by over $1 trillion in terms of total assets. This sum is larger than the total price tag of the recent federal stimulus as well as the bank bailout authorized by the TARP. Yet both of these government responses have received enormously more public scrutiny than any of the actions taken by the Federal Reserve.

Suggested Citation

  • Matthew Sherman, 2009. "The Alphabet Soup Explained: An Analysis of the Special Lending Facilities at the Federal Reserve," CEPR Reports and Issue Briefs 2009-24, Center for Economic and Policy Research (CEPR).
    • Handle: RePEc:epo:papers:2009-24
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    File URL: http://www.cepr.net/documents/publications/alphabet-soup-2009-07.pdf
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    Cited by:

    1. Bulow, Jeremy & Klemperer, Paul, 2013. "Market-Based Bank Capital Regulation," Research Papers 2132, Stanford University, Graduate School of Business.
    2. Anjali Karol, 2020. "A Decade After the Global Financial Crisis: Lessons and Policy for International Stability," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 11(2), pages 416-423, April.

    More about this item

    Keywords

    Federal Reserve; special lending facilities;

    JEL classification:

    • G - Financial Economics
    • G2 - Financial Economics - - Financial Institutions and Services
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • H - Public Economics
    • H2 - Public Economics - - Taxation, Subsidies, and Revenue
    • H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies
    • E - Macroeconomics and Monetary Economics
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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