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lender of last resort

   Also found in: Financial, Acronyms, Wikipedia 0.01 sec.
lender of last resort
n
(Economics, Accounting & Finance / Banking & Finance) the central bank of a country with authority for controlling its banking system
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In its submission to the Treasury Select Committee, the Bank said it stepped in as a lender of last resort just weeks after the collapse of Lehman Brothers to buy time until the Government could take action.
Bank of England's pounds 61.6bn rescue act revealed by Daily Post (Liverpool, England)
It stepped in as a lender of last resort just weeks after the collapse of Lehman Brothers to buy time until the Government could take action.
Was Rock used as scapegoat? Bank not given secret loans paid to rivals by The Journal (Newcastle, England)
This is precisely what a central bank does in terms of providing lender of last resort facilities to support the banking system," he told Channel 4.
Bank of England reveals huge secret loans to RBS, HBOS by AFP / AFP European Edition
 
 
 
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