Keeping banks afloat: public lifelines during the financial crisis

摘要

The extensive public support measures for the financial sector were key for the management of the financial crisis. This paper gives a detailed description of the measures taken by governments during the period 2008-2010 and attempts a preliminary assessment of the effectiveness of such measures. The geographical focus of the paper is on the European Union (EU) and the United States. The crisis response in both regions was largely similar in terms of both tools and scope. However, there are important differences, not only between the EU and the United States, but also within the EU (e.g. asset relief schemes).