December 12, 2007: The Federal Reserve instituted the Term Auction Facility to supply short-term credit to banks with sub-prime mortgages.
Forty-five countries pledged US$25.1 billion in "aid for the world's poorest countries", aid that goes to the World Bank International Development Association (IDA), which distributes the loans to eighty poorer countries. While wealthier nations sometimes fund their own aid projects, including those for diseases, and although IDA is the recipient of criticism, Robert B. Zoellick, the former president of the World Bank, said when the loans were announced on 15 December 2007, that IDA money "is the core funding that the poorest developing countries rely on".
On December 23, 2007, Bryant became the youngest player (29 years, 122 days) to reach 20,000 points, in a game against the New York Knicks, in Madison Square Garden, after scoring 39 points to go along with 11 rebounds and 8 assists. This record has since been broken by LeBron James. On March 28, Bryant scored a season-high 53 points to go with 10 rebounds in a loss to the Memphis Grizzlies.
At the end of 2007, FARC agreed to release former senator Consuelo González, politician Clara Rojas and her son Emmanuel, born in captivity after a relationship with one of her captors. Operation Emmanuel was proposed and set up by Venezuelan President Hugo Chávez, with the permission of the Colombian government. The mission was approved on December 26. Although, on December 31, FARC claimed that the hostage release had been delayed because of Colombian military operations. On the same time, Colombian President Álvaro Uribe indicated that FARC had not freed the three hostages because Emmanuel may not be in their hands anymore. Two FARC gunmen were taken prisoner.
In 2002, the European Commission exempted Visa's multilateral interchange fees from Article 81 of the EC Treaty that prohibits anti-competitive arrangements. However, this exemption expired on December 31, 2007. In the United Kingdom, MasterCard has reduced its interchange fees while it is under investigation by the Office of Fair Trading.
The acquisition was seen as preventing potential bankruptcy for Countrywide. Countrywide, however, denied that it was close to bankruptcy. Countrywide provided mortgage servicing for nine million mortgages valued at $1.4 trillion as of December 31, 2007.