Moreover, the confidentiality of discount window lending to individual depository institutions must be maintained so that the Federal Reserve continues to have effective ways to provide liquidity to depository institutions under circumstances where other  received. A revised proposal will be reviewed by the Federal Reserve Board, and test transactions could commence during the second quarter.
The same charts also show that the Irish downturn – led by an exceptional construction crunch – was well under way by the time of the notorious bank guarantee (which was granted just a couple of weeks after the Lehman bankruptcy) (Figures 4–7 show the time-line on relevant macro indicators).