Federal Reserve releases financial crisis data sets

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The Federal Reserve released a series of key data sets today as required under the Dodd-Frank financial reform law. The data sets show all of the emergency lending programs that the Fed undertook beginning in 2007 as financial firms found themselves awash in toxic assets and unable to borrow or lend money.

All of these data sets are available for download on the Federal Reserve site in both Excel and .csv formats.

Ryan Sibley explained some of what we may find in a blog post yesterday:

If it’s fulfilled as the Dodd-Frank bill requires, we’ll know which banks had to use the secondary credit window, also known as the discount window, which was reserved for banks in poorer health. Information about TALF loans will show us which banks took advantage of federally guaranteed loans as an incentive to buy “toxic assets” and which banks were able to get rid of their bad assets as a result of the program. We’ll also find out which banks the Fed was nice enough to buy so many risky mortgage-backed securities from.

Some of these data sets are likely to hold more interesting revelations than others. Like the cables released by Wikileaks, there are bound to be a number of revelations that are more detailed confirmations of what we already know.

We’ll have more on the other data sets in the coming days.