Or, how well did the market do in judging banks’ health during the financial crisis? How accurate was the market stigma surrounding banks that might be tapping the Federal Reserve for help?
And so on.
The below graphs come from the Fed’s ‘Chart Pack of Market Monitoring Metrics.’ These were sent to officials including Timothy Geithner for much of 2008 and 2009, and just released as part of a Freedom of Information Act request by Bloomberg and Fox News. The first group shows various banks’ five-year CDS against their usage of the US central bank’s various liquidity facilities back in 2008– stuff like the Primary Dealer Credit Facility, the Term Securities Lending Facility and the TSLF Options Program.
And two (foreign) bank chart bonuses, sadly without CDS and from a later date:
Related links:
Fed today to name banks that borrowed from discount window – Bloomberg
Fed liquidity in 2008 – everyone was doin’ it – FT Alphaville
Your guide to the Fed’s $3.3 trillion data dump – FT Alphaville