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Tracking the Global Recession
To provide accurate and useful information on the current economic environment and the behavior of economic data around business cycle turning points,
the Federal Reserve Bank of St. Louis presents this brief report: Tracking the Global Recession. The report will be updated periodically, as new information
and data releases are made available.
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
and NIC.
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
and NIC.
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