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lender of last resort |
Also found in: Financial, Acronyms, Wikipedia | 0.01 sec. |
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lender of last resort n (Economics, Accounting & Finance / Banking & Finance) the central bank of a country with authority for controlling its banking system How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| Securities firms and mutual fired companies offer no such guarantees, and banks have the Federal Reserve as a lender of last resort and the Federal Deposit Insurance Corp. that it is impossible for restrictive measures to slow down the boom at the optimal rate without precipitating collapse, the lender of last resort faces dilemmas of amount and timing. The bank extended the repayment period to five years from 60 days, damaging investor confidence in the World Bank's ability to command respect as the lender of last resort. |
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