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Financial Stability

The Federal Reserve monitors financial system risks and engages at home and abroad to help ensure the system supports a healthy economy for U.S. households, communities, and businesses.

<p>The Panic - Run on the Fourth National Bank, No. 20 Nassau Street [New York City, 1873]. (Image&nbsp;LC-USZ6-952 via<a href=""> Library of Congress Prints and Photographs Division</a>)<br></p>

The Panic - Run on the Fourth National Bank, No. 20 Nassau Street [New York City, 1873]. (Image LC-USZ6-952 via Library of Congress Prints and Photographs Division)


Last updated October 12, 2023

Essays in This Theme

Asian Financial Crisis - A financial crisis started in Thailand in July 1997 and spread across East Asia

Bank Holiday of 1933 - For an entire week in March 1933, all banking transactions were suspended

Banking Act of 1932 - The Banking Act of 1932 reformed the Federal Reserve’s role providing credit during economic downturns.

Banking Act of 1933 - Commonly called Glass-Steagall, the Act was widely debated before its enactment

Banking Panics of 1930-31 - The U.S. appeared to be poised for economic recovery when a series of bank panics began in fall 1930

Banking Panics of 1931-33 - Earlier regional banking panics turned into a nationwide financial crisis in fall 1931

Banking Panics of the Gilded Age - The late 19th century was beset by panics

Continental Illinois: A Bank that Was Too Big to Fail - The phrase “too big to fail” became commonly used for the first time after Continental’s crisis

Emergency Banking Act of 1933  - The 1933 law was aimed at restoring public confidence in the nation’s financial system

Emergency Lending to Nonbank Borrowers - The Emergency Relief and Construction Act of 1932 expanded the Fed's ability to make certain loans under "unusual and exigent circumstances."

Federal Reserve Credit Programs During the Meltdown - The Fed introduced various credit programs to deal with the 2007-09 financial crisis

Latin American Debt Crisis - During the 1980s, many Latin American countries were unable to service their foreign debt

Near Failure of Long-Term Capital Management - A group of banks and brokerage firms prevented the collapse of this hedge fund in 1998

The Panic of 1907 - The story of the crash that inspired monetary reform

Reconstruction Finance Corporation Act - During the years 1932 and 1933, the Reconstruction Finance Corporation effectively served as the discount lending arm of the Federal Reserve Board.

Savings and Loan Crisis - The 1980s was a period of distress for the financial sector, especially savings and loans

Stock Market Crash of 1929 - On October 28, 1929, the Dow declined nearly 13 percent

Stock Market Crash of 1987 - The Dow dropped 22.6 percent on Black Monday, October 19, 1987

Subprime Mortgage Crisis - The 2007-10 crisis stemmed in part from an expansion of mortgages to high-risk borrowers

Support for Specific Institutions - The failures of Bear Stearns and Lehman Brothers and the bailout of AIG occurred in 2008