HImfr Ivy
I am a professional editor from Hardware Wholesale, and my work is to promote a free online trade platform. http://www.hardware-wholesale.com/ contain a great deal of information about price label gun,bell bike helmet,bamboo window blinds, welcome to visit!
View all articles by HImfr Ivy
During the financial crisis the Fed announced a 3.3 trillion implementation details of the emergency loan scheme, the data revealed in the 2008-2009 period to accept the Federal Reserve loans to banks and enterprises, foreign banks, especially the European banks of the emergency loan program the biggest beneficiary.
With this loan scheme unveiled, the Federal Reserve as a global banking "lender of last resort" role also for all the embarrassment, "dumbfounded."
Foreign banks for more loans
Worked for the Fed to stimulate the economy and the unprecedented large-scale intervention: through a series of different loan programs during the crisis will be 3.3 trillion U.S. dollars in huge amounts of money into the U.S. economy and financial system all corners. It was not until the first day of the month, the details of this enormous credit just surfaced.
According to this year through the "Dodd - Frank" Financial Supervision Act, the Federal Reserve announced Wednesday with the bank since 2007 and more than 21,000 enterprises details of the transaction.
The latest information released by the Federal Reserve is likely to make again become the target - because most of the features of the data revealed that foreign banks from the Fed has been lending hundreds of billions of dollars in short-term, which has become the loan scheme the biggest beneficiary.
Day to the latest data show that the Fed's commercial paper borrowings in the project, the largest amount of several loans are: Swiss banking giant UBS topped the list with 74.5 billion, Citigroup $ 32,700,000,000 is more than double the loan amount, UBS only in October 2008 to be 372 billion U.S. dollars, in January 2009 was given a 37.3 billion; Barclays Bank, which had refused to rescue Lehman Brothers home but in the majority of its assets in bankruptcy bought the Bank of England, Also in October 2008 did the Federal Reserve has been almost 100 billion dollars in commercial paper loans.
UBS spokesman, said the bank's loan is relatively modest increase in the crisis the bank's flexibility and has been fully repaid. Barclays spokesman also said that all loans have been repaid at the end of 2009.
Loan program also includes Primary Dealer Credit Facility,providing overnight loans to investment banks. September 2008 after the collapse of Lehman Brothers, Goldman Sachs and Morgan Stanley have a direct borrowing from the Fed were 84 times and 212 times: Goldman Sachs overnight loans in mid-October that year to 180 billion dollars in the peak; Morgan Stanley by more, because the bank chief executive John Mack had been complaining that the bank was betting the market will close down its target of
speculators. Morgan Stanley and its branch in London in 2008, nine days of the end of the worst, a total of nearly 60 billion U.S. dollars the Fed loan.
In addition, the Term Auction Facility,to provide term loans to commercial banks. And still the British Barclays Bank for this project the largest borrower, borrowing $ 232,300,000,000 total of TAF.
Global bank "lender of last resort," the difficulties
This article contains more than 21,000 data transactions is likely to strengthen the public and the government's review of the Fed loans, especially for overseas borrowing.
"After years of delay in the Federal Reserve, the American people finally realized that to Wall Street and businesses in the trillions of dollars bailout details, these details and breathtaking unbelievable." Vermont Senator Bernie Sanders said. This year he was pushing through the "Dodd - Frank" financial regulatory reform bill to require disclosure of funds from the Fed to obtain relief, and foreign central banks for each company name, each entity also disclose the amount and conditions for receiving aid. He believes that the loans to foreign companies particularly alarming, and calls this a "thorough review."
Cumberland Advisors Inc. Yisenbaisi chief currency economist, said: "Clearly, the Fed loans to foreign institutions are the main customers, the Fed will be transported to the U.S. European base of these institutions."
This means that the Fed was playing the global banking industry's "lender of last resort."
But the Fed vigorously support the foreign banks also have "difficulties", the bank must strive to maintain a high correlation was Yaoyaoyuzhui Queyou the global financial system: the Fed and foreign governments are worried about at that time, the U.S. subprime crisis may cause a global recession, If some more after Lehman Brothers, following another large financial institutions collapse, then, would cause serious harm to the global economy.
A key question is, are the Federal Reserve loans to foreign banks in most of the U.S. bond market was fairly active, including mortgage bonds and municipal bond markets. These organizations rely on U.S. dollar loans for their holdings of U.S. debt financing, once the lack of financial resources, they have to be forced to sell these bonds. As a result, it will increase U.S. businesses and homeowners facing crisis. On the other hand, also to help those in overseas operations, but suffered a severe liquidity pressure, Bank of America.
To this end, the Fed and other central banks signed a liquidity swap agreement. Through these agreements, the Federal Reserve to lend to foreign central banks hundreds of billions of dollars, including Korea, Japan, Britain, Sweden, Switzerland, Denmark, Norway, Mexico, Australia and the European Central Bank. These funds are then provided to the needs of dollars in foreign financial institutions.
With this loan scheme unveiled, the Federal Reserve as a global banking "lender of last resort" role also for all the embarrassment, "dumbfounded."
Foreign banks for more loans
Worked for the Fed to stimulate the economy and the unprecedented large-scale intervention: through a series of different loan programs during the crisis will be 3.3 trillion U.S. dollars in huge amounts of money into the U.S. economy and financial system all corners. It was not until the first day of the month, the details of this enormous credit just surfaced.
According to this year through the "Dodd - Frank" Financial Supervision Act, the Federal Reserve announced Wednesday with the bank since 2007 and more than 21,000 enterprises details of the transaction.
The latest information released by the Federal Reserve is likely to make again become the target - because most of the features of the data revealed that foreign banks from the Fed has been lending hundreds of billions of dollars in short-term, which has become the loan scheme the biggest beneficiary.
Day to the latest data show that the Fed's commercial paper borrowings in the project, the largest amount of several loans are: Swiss banking giant UBS topped the list with 74.5 billion, Citigroup $ 32,700,000,000 is more than double the loan amount, UBS only in October 2008 to be 372 billion U.S. dollars, in January 2009 was given a 37.3 billion; Barclays Bank, which had refused to rescue Lehman Brothers home but in the majority of its assets in bankruptcy bought the Bank of England, Also in October 2008 did the Federal Reserve has been almost 100 billion dollars in commercial paper loans.
UBS spokesman, said the bank's loan is relatively modest increase in the crisis the bank's flexibility and has been fully repaid. Barclays spokesman also said that all loans have been repaid at the end of 2009.
Loan program also includes Primary Dealer Credit Facility,providing overnight loans to investment banks. September 2008 after the collapse of Lehman Brothers, Goldman Sachs and Morgan Stanley have a direct borrowing from the Fed were 84 times and 212 times: Goldman Sachs overnight loans in mid-October that year to 180 billion dollars in the peak; Morgan Stanley by more, because the bank chief executive John Mack had been complaining that the bank was betting the market will close down its target of
In addition, the Term Auction Facility,to provide term loans to commercial banks. And still the British Barclays Bank for this project the largest borrower, borrowing $ 232,300,000,000 total of TAF.
Global bank "lender of last resort," the difficulties
This article contains more than 21,000 data transactions is likely to strengthen the public and the government's review of the Fed loans, especially for overseas borrowing.
"After years of delay in the Federal Reserve, the American people finally realized that to Wall Street and businesses in the trillions of dollars bailout details, these details and breathtaking unbelievable." Vermont Senator Bernie Sanders said. This year he was pushing through the "Dodd - Frank" financial regulatory reform bill to require disclosure of funds from the Fed to obtain relief, and foreign central banks for each company name, each entity also disclose the amount and conditions for receiving aid. He believes that the loans to foreign companies particularly alarming, and calls this a "thorough review."
Cumberland Advisors Inc. Yisenbaisi chief currency economist, said: "Clearly, the Fed loans to foreign institutions are the main customers, the Fed will be transported to the U.S. European base of these institutions."
This means that the Fed was playing the global banking industry's "lender of last resort."
But the Fed vigorously support the foreign banks also have "difficulties", the bank must strive to maintain a high correlation was Yaoyaoyuzhui Queyou the global financial system: the Fed and foreign governments are worried about at that time, the U.S. subprime crisis may cause a global recession, If some more after Lehman Brothers, following another large financial institutions collapse, then, would cause serious harm to the global economy.
A key question is, are the Federal Reserve loans to foreign banks in most of the U.S. bond market was fairly active, including mortgage bonds and municipal bond markets. These organizations rely on U.S. dollar loans for their holdings of U.S. debt financing, once the lack of financial resources, they have to be forced to sell these bonds. As a result, it will increase U.S. businesses and homeowners facing crisis. On the other hand, also to help those in overseas operations, but suffered a severe liquidity pressure, Bank of America.
To this end, the Fed and other central banks signed a liquidity swap agreement. Through these agreements, the Federal Reserve to lend to foreign central banks hundreds of billions of dollars, including Korea, Japan, Britain, Sweden, Switzerland, Denmark, Norway, Mexico, Australia and the European Central Bank. These funds are then provided to the needs of dollars in foreign financial institutions.
