TIMELINE - Global financial turmoil day by day
(Reuters) - Following is a day-by-day summary of recent events in the financial crisis:
SUNDAY SEPT 14
- Investment bank Lehman Brothers Holdings files for bankruptcy protection; rival Merrill Lynch & Co agrees to be taken over by Bank of America
- U.S. Federal Reserve says for the first time it will accept stock in exchange for cash loans, while 10 of the world's top banks agreed to establish a $70 billion (38.7 billion pound) emergency fund, with any one of them able to tap up to a third of that sum.
MONDAY SEPT 15
- American International Group reaches deal with New York state officials giving the insurer access to $20 billion of its own capital.
WEDNESDAY SEPT 17
- Lloyds TSB Group agrees to buy rival HBOS, scooping up Britain's biggest home loan lender in an all-share deal which values HBOS at over 12 billion pounds.
THURSDAY SEPT 18 Continued...
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