Appendix 8 — The Post-Crisis Backstop of the Shadow Banking System

After private puts were impaired and a run began, the Fed's 13(3) facilities plus Treasury and FDIC guarantees became a 360° official backstop, each facility mapping to a functional step: CPFF→origination/warehousing; TALF→ABS issuance; TSLF & Maiden Lane→securities warehouses; Maiden Lane III→AIG-FP's CDO credit puts; TAF & FX swaps→ABS-intermediary on-boarding; PDCF→tri-party repo; AMLF/MMIFF/Maiden Lane II + Treasury TGP→money-market intermediaries. Standalone specialists (LPFCs, credit HFs) were largely excluded. Hover any cell for instrument / tenor / rating / seniority / capital form / stress tags / backstop linkage; hover any arrow for the flow's instrument and counterparty role.