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The U.S. central banking system, the Federal Reserve, in partnership with central banks around the world, took several steps to address the subprime mortgage crisis.. Federal Reserve Chairman Ben Bernanke stated in early 2008: "Broadly, the Federal Reserve’s response has followed two tracks: efforts to support market liquidity and functioning and the pursuit of our macroeconomic objectives ...
After assessing that a disorderly failure of AIG could worsen the current financial and economic crisis, [38] and at the request of AIG, the Federal Reserve Bank of New York intervened. The Federal Reserve required a 79.9 percent equity stake as a fee for service and to compensate for the risk of the loan to AIG. [14]
Federal Reserve responses to the subprime crisis; Government intervention during the subprime mortgage crisis; Green New Deal; Housing and Economic Recovery Act of 2008; National fiscal policy response to the Great Recession; Regulatory responses to the subprime crisis; Subprime mortgage crisis solutions debate; Term Asset-Backed Securities ...
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Federal Reserve data found more than 84% of the subprime mortgages in 2006 coming from private-label institutions rather than Fannie and Freddie, and the share of subprime loans insured by Fannie Mae and Freddie Mac decreasing as the bubble got bigger (from a high of insuring 48% to insuring 24% of all subprime loans in 2006). [81]
Regulatory responses to the subprime crisis addresses various actions taken by governments around the world to address the effects of the subprime mortgage crisis. Regulators and legislators are considering action regarding lending practices, bankruptcy protection, tax policies, affordable housing, credit counseling, education, and the licensing .
The response of the US Federal Reserve, the European Central Bank, and other central banks was dramatic. During the last quarter of 2008, these central banks purchased US$2.5 (~$3.47 trillion in 2023) trillion of government debt and troubled private assets from banks.
The expansion of central bank lending in response to the crisis was not only confined to the Federal Reserve's provision of aid to individual financial institutions. The Federal Reserve has also conducted a number of innovative lending programs with the goal of improving liquidity and strengthening different financial institutions and markets ...