TIMELINE: Fed actions to boost liquidity

(Reuters) - The U.S. Federal Reserve on Monday said it was expanding currency swap lines with other central banks to $620 billion from $290 billion and beefing up auctions of funds for U.S. banks to help combat the credit crisis.

The actions, announced in conjunction with statements from other central banks using the dollar funds to provide liquidity in their markets, also included the launch of a new Fed program to provided reassurance that term funding will be available over year-end.

The actions were the latest in a series of extraordinary steps by the Fed dating to August 2007 aimed at keeping strained credit markets from freezing up entirely.

Following is a timeline of the Fed's actions:

August 10, 2007: Fed notes banks are experiencing unusual funding needs and says it would provide funds as needed.

August 17: Fed cuts discount rate; says it will act as needed to safeguard economy from financial market disruptions.

November 26: Fed promises more than the usual year-end liquidity and says it will lift limits on how much can be lent to any one bank.

December 12: Fed establishes Term Auction Facility (TAF) to provide funds over longer period to a wider range of banks. It also sets up foreign exchange swap lines with the European Central Bank and Swiss National Bank for up to six months, providing up to $20 billion for the ECB and $4 billion for the

SNB.

January 3, 2008: Fed raises TAF auction amounts to $30 billion from $20 billion for each of the two auctions in January.

February 1: Fed says to continue TAF auctions in February.

February 29: Fed sets two TAF auctions of $30 billion each in March and says intends to conduct auctions for as long as necessary.

March 7: Fed increases size of TAF auctions to $50 billion and starts a series of 28-day repurchase transactions with primary dealers expected to total another $100 billion.

March 11: Fed says to accept broader range of collateral in new program for primary dealers, the Term Securities Lending Facility (TSLF), to lend up to $200 billion for 28 days. It also increases swap lines with the ECB and the SNB to up to $30 billion and $6 billion, respectively; extends them through September 30.

March 14: Fed says authorized JPMorgan Chase to borrow at discount window for Bear Stearns.

March 16: Fed cuts discount rate and announces new program to provide credit to primary dealers, the Primary Dealer Credit Facility (PDCF). PDCF to extend credit against broad range of investment-grade debt securities. It also increases maximum term of discount rate loans to 90 days from 30 days. Actions are taken in concert with decision to approve special financing to facilitate the purchase of Bear Stearns by JPMorgan Chase.