Emergency lending by the federal reserve : background and policy issues / Felicia Estrada, editor.

Online resource; title from PDF title page (EBSCO, viewed September 6, 2016).

Includes bibliographical references and index.

EMERGENCY LENDING BY THE FEDERAL RESERVE BACKGROUND AND POLICY ISSUES ; EMERGENCY LENDING BY THE FEDERAL RESERVE BACKGROUND AND POLICY ISSUES ; CONTENTS ; PREFACE ; Chapter 1 FEDERAL RESERVE: EMERGENCY LENDING ; Summary; Introduction; History of Section 13(3); Use of Section 13(3) in 2008; Broadly Based Facilities; Special Assistance to Firms Deemed "Too Big to Fail"; Limits on Emergency Lending; Restrictions on Emergency Lending in Place in 2008; Changes in the Dodd-Frank Act; The Fed's Rule Implementing the Dodd-Frank Act's Changes; Oversight Requirements; Policy Issues.

Why Was the Fed Established as a "Lender of Last Resort"?Who Should Have Access to the Lender of Last Resort?; Lending to Nonbank Financial Firms?; Lending to Nonfinancial Firms?; Lending to Government or Government Chartered Entities?; Lending to Itself?; What Are the Potential Costs of Emergency Assistance?; How Much Discretion Should the Fed Be Granted?; What Rate Should the Fed Charge?; Should Borrowers' Identities Be Kept Confidential?; Selected Legislation in the 114th Congress; H.R. 3189; S. 1320; H.R. 2625; Appendix. Details on the Actions Taken under Section 13(3) in 2008.

Term Securities Lending FacilityPrimary Dealer Credit Facility; Commercial Paper Funding Facility and Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility; Term Asset-Backed Securities Loan Facility; Bear Stearns; American International Group; Citigroup; Bank of America; End Notes; Chapter 2 GOVERNMENT ASSISTANCE FOR AIG: SUMMARY AND COST ; Summary; Introduction; Summary of Government Assistance to AIG; Federal Reserve Loans to AIG; Federal Reserve Loans to Finance Asset Purchases from AIG; AIG Commercial Paper Funding Facility Borrowing; TARP Assistance for AIG.

Indirect Assistance for AIGWhat Did the Assistance for AIG Cost?; Appendix A. Details of Government Assistance for AIG; Assistance Prior to TARP Involvement; Initial Loan; Securities Borrowing Facility35; Commercial Paper Funding Facility; November 2008 Revision of Assistance to AIG; Federal Reserve Loan Restructuring; Troubled Asset Relief Program Assistance; Purchase of Troubled Assets; Residential Mortgage-Backed Securities/Maiden Lane II; Collateralized Debt Obligations/Maiden Lane III; March 2009 Revision of Assistance to AIG; September 2010 Revision of Assistance for AIG.

Appendix B. Executive Compensation Restrictions Under TARPEnd Notes; Chapter 3 SYSTEMICALLY IMPORTANT OR "TOO BIG TO FAIL" FINANCIAL INSTITUTIONS* ; Summary; Introduction; Economic Issues; Context; Economic Effects of Too Big to Fail; Do TBTF Firms Enjoy a Funding Advantage or Implicit Subsidy?; Policy Options; Policy Before and during the Crisis; Policy Options and the Policy Response after the Crisis; End or Continue "Bailouts"?; Options; Policy Response; Limiting the Size of Financial Firms; Options; Policy Response; Limiting the Scope of Financial Firms; Options; Policy Response.

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