This article is devoted to a central bank's response to a financial crisis based on a case study of the US Federal Reserve's handling of the financial crisis in 2008–2010. This article will also be focusing on the intense phase of the financial crisis. It is focusing primarily on the lender of last resort function of a central bank. The article concludes with the most significant issues about the aftermath and the recovery, as well as lessons to deal with financial failure during the coronavirus and its aftermath.