lender of last resort


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lender of last resort

n
(Banking & Finance) the central bank of a country with authority for controlling its banking system
References in periodicals archive ?
Outgoing ECB chief economist Juergen Stark earlier rejected calls for the ECB to act as lender of last resort like the U.
Then, as the crisis unfolded, all eyes turned to the Fed as the lender of last resort.
This could end up ruining the Fed's balance sheet, and ultimately its credibility as the lender of last resort.
To the extent that corporate debt minimization is linked to corporate profit maximization, we need both the lender of last resort as well as the borrower of last resort.
ADFA, considered a lender of last resort, guarantees all of its bond issues.
Its central bank would no longer serve as a lender of last resort to domestic banks.
Moreover, the agency believes the Salvadoran banking system needs to become stronger because of the dollarization of the economy, as there is no lender of last resort.
Just a year ago, Congress passed an amendment that prevented schools with excessive default rates from participating in the lender of last resort program.
Thus, for the higher-rated finance and leasing companies, this may require a change in financial strategy as commercial banks have generally been viewed as the lender of last resort to the industry.
My view of why the IMF exists is to be the international lender of last resort.
The Bank of England then reversed its discount policy and began acting as a lender of last resort.
Marvin West, the loan officer responsible for the Pacoima area, said the bank should be considered the lender of last resort.