lender of last resort

(redirected from Lenders of Last Resort)
Also found in: Financial.

lender of last resort

n
(Banking & Finance) the central bank of a country with authority for controlling its banking system
References in periodicals archive ?
As lenders of last resort, central banks typically respond by lending to banks that are illiquid but solvent, against good collateral.
Central banks operating in their function as lenders of last resort can function, however, only within certain limits.
The House approved the Ensuring Continued Access to Student Loans Act of 2008 which would authorize the Department of Education to advance federal funds to guarantee agencies operating as lenders of last resort that lack money for new loans.
Secretary of Education the authority to advance federal funds to guaranty agencies operating as lenders of last resort if they do not have sufficient capital to originate new loans, and the temporary authority to purchase loans from lenders in the federal guaranteed loan program.