Federal Reserve Bank of St. Louis Launches Online Financial Crisis Timeline

ST. LOUIS, Jan. 7 /PRNewswire/ -- Anyone looking for timely, insightful information on the financial crisis can now find it at a new web site launched December 22 by the Federal Reserve Bank of St. Louis. As the most extensive in the Federal Reserve System, the Financial Crisis web site provides information about how major financial events have unfolded to date and policy actions that government agencies have taken in response: http://www.stlouisfed.org/timeline.

"Over the past year-and-a-half, our financial system has faced considerable turbulence," said James Bullard, president and chief executive officer with the Federal Reserve Bank of St. Louis. "The Federal Reserve and other agencies have taken many steps to contain the financial crisis and limit its impact on the broader economy."

The Financial Crisis web site outlines events in financial markets from February 2007 to the present, and includes brief descriptions of market events and actions by the Federal Reserve and other government agencies, along with links to press releases, SEC filings, congressional testimony, related St. Louis Fed articles and selected FRED (Federal Reserve Economic Data) graphs. Using primary sources and links to data, the St. Louis Fed's site is designed as a hub for finding information related to the crisis.

"It is critically important that we clearly communicate Federal Reserve and other government agency actions to better ensure their success," said Bullard. "This web site was created to provide the public with useful information about major financial events and policy actions, both over the past months and going forward."

Additional features will be debuted in the first quarter of 2009, including frequently asked questions, a glossary of terms, an improved, customizable timeline, integrated charts and graphs, and update alerts.

With branches in Little Rock, Louisville and Memphis, the Federal Reserve Bank of St. Louis serves the Eighth Federal Reserve District, which includes all of Arkansas, eastern Missouri, southern Indiana, southern Illinois, western Kentucky, western Tennessee and northern Mississippi. The St. Louis Fed is one of 12 regional Reserve Banks that, along with the Board of Governors in Washington, D.C., comprise the Federal Reserve System. As the nation's central bank, the Federal Reserve System formulates U.S. monetary policy, regulates state-chartered member banks and bank holding companies, provides payment services to financial institutions and the U.S. government, and promotes community development and financial education.