Release Date: February 23, 2009
For immediate release
The Federal Reserve Board on Monday launched a new section of its website expanding the information provided about the policy tools the Federal Reserve has employed to address the financial crisis and simplifying access to that information.
The website section--“Credit and Liquidity Programs and the Balance Sheet”--presents a wide range of material, including a detailed explanation of the Federal Reserve's balance sheet; descriptions of all of the Federal Reserve's liquidity and credit facilities; discussion of the Federal Reserve's risk-management practices; information on the types and amounts of collateral being pledged at the various lending facilities; and an extensive set of links to congressional reports and other resources.
"This new section of our website is one of a series of significant steps we have taken to improve the public's understanding of our actions during this extraordinary period," said Federal Reserve Chairman Ben S. Bernanke.
"We are continuing to review our disclosure policies relating to our balance sheet and lending policies. Our goal is to be as transparent as possible, both to ensure that the Federal Reserve is accountable to the Congress and the public, and because many of the Board's policies are likely to be more effective if they are well understood by the markets and the public."
The new section of the Board's website can be accessed at: http://www.federalreserve.gov/monetarypolicy/bst.htm
In addition, as part of ongoing enhancements to the Board's website, a new tool has been added to allow for advanced searches of recent and historical Federal Open Market Committee material.