## United States: Publication of Financial Sector Assessment Program Documentation: Technical Note on Crisis Management Arrangements

_IMF Staff Country Reports, May 14, 2010_

## Source details

**Canonical URL:** [United States: Publication of Financial Sector Assessment Program Documentation: Technical Note on Crisis Management Arrangements](https://www.imf.org/en/publications/cr/issues/2016/12/31/united-states-publication-of-financial-sector-assessment-program-documentation-technical-23862)

## Other formats

- [Markdown version](/en/publications/cr/issues/2016/12/31/united-states-publication-of-financial-sector-assessment-program-documentation-technical-23862/index.md)
- [Structured JSON version](/en/publications/cr/issues/2016/12/31/united-states-publication-of-financial-sector-assessment-program-documentation-technical-23862/index.json)
- [Bundle manifest](/en/publications/cr/issues/2016/12/31/united-states-publication-of-financial-sector-assessment-program-documentation-technical-23862/bundle-manifest.json)

## Bibliographic details
- Published: May 14, 2010
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781455206605.002

---

### Summary
- This paper presents a technical note on Crisis Management Arrangements for the United States.
- The crisis has seen widespread systemic instability, large-scale fiscal support, and an increase in moral hazard.
- The lack of a formal systematic process for the assessment of risks may have contributed to a slow response to identified risks.
- Additional complexity of coordinating interagency actions in response to identified risks did not help.
- Power to act remained with the individual agencies, and coordinating a response to identified risks could take time.

### Major themes and findings
- Systemic instability:
  - Widespread systemic instability during the crisis is identified as a core concern.
- Fiscal response:
  - Large-scale fiscal support was a prominent feature of the crisis response.
- Moral hazard:
  - The crisis environment was associated with an increase in moral hazard.
- Risk assessment and coordination:
  - Absence of a formal systematic risk-assessment process may have slowed responses to identified risks.
  - Interagency coordination complexity impeded timely collective action.
  - Authority to act remained with individual agencies, leading to potential delays when coordinated responses were required.

---

## Content in this bundle

- **Executive Summary**
  - [Executive Summary (Markdown version)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2010/_cr10120.pdf.md){rel="alternate" type="text/markdown"}
  - [Executive Summary (PDF)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2010/_cr10120.pdf){rel="external" type="application/pdf"}

---

_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/united-states-publication-of-financial-sector-assessment-program-documentation-technical-23862_