Information on closed credit and liquidity programs

During the financial crisis, the Federal Reserve implemented a number of programs designed to support the liquidity of financial institutions and foster improved conditions in financial markets. All of these programs have expired or been closed. Information on these programs is available on the following pages:

  • Lending to primary dealers discusses the Primary Dealer Credit Facility and term securities lending programs.
  • Other lending facilities presents information about the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility, the Commercial Paper Funding Facility, and the Term Asset-Backed Securities Loan Facility.
  • Support for specific institutions discusses special lending arrangements with specific institutions, including those with Bear Stearns and the American International Group.
  • Collateral and rate setting provides details on eligible collateral for a number of the lending facilities and a summary of the terms and conditions of these facilities.
  • Risk management explains how the Federal Reserve managed the risk associated with various liquidity programs.
  • Related resources provides links to other information and resources on the financial crisis and the closed programs

In addition, information on the Term Auction Facility can be found on the Lending to Depository Institutions page.

Note: For current information on 2020 programs, visit: Primary Dealer Credit Facility, Commercial Paper Funding Facility, Money Market Mutual Fund Liquidity Facility (MMLF), Term Asset-Backed Securities Loan Facility.

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Last Update: March 24, 2020