lender of last resort

Yet isn't it a paradox that China is both a developing country and the developed world's potential lender of last resort?

It has no common treasury, no tax-raising powers, no joint bonds and no central bank acting as lender of last resort.

She refuses to call on the European Central Bank to be the lender of last resort to stop contagion in the bond markets.

I think they need to see what state the industry is in. Canada and the U. S. are coming in as the lender of last resort.

The Panic galvanized the big bankers to put on a concerted putsch for a Lender of Last Resort in the shape of a central bank.

and is an international lender of last resort. Many analysts say the IMF is at the core of the problem.

However, under fixed XR, a bank run turns into a currency run if the Central Bank acts as a lender of last resort.

In none of these was a lender of last resort effectively present.

Nor is it likely that the IMF will be allowed to turn itself into a true global lender of last resort.

As the U. S. recession deepens, pawn brokers -- long seen as a lender of last resort -- are noting a rise in business.

Contagion between sovereign bond markets can only be stopped if there is a central bank willing to be lender of last resort.

Draghi expressed strong resistance to the ECB being used as a lender of last resort, insisting that it was not its remit.

The only reasonable objection to a lender of last resort role for the ECB is moral hazard.

Over many decades and especially in this financial crisis, the Fed has used its balance sheet to be a classic lender of last resort.

A lender of last resort provides liquidity in a crisis to banks (and to the market as a whole) when there is no alternative.

Without clear fundamentals and a credible lender of last resort, Europe's financial markets are buffeted by waves of self-fulfilling panic.

EXAMPLE: If the Fund is to be the lender of last resort to countries in difficulty, it needs to be confident of being repaid.

There is one notion here, however, on which most economists might agree: the Fed's role as the lender of last resort.

"The trust companies were the lender of last resort, which is why it's so serious for that tap to be turned off, " says Mr Gallimore.

Is there any other solution other than the European Central Bank becoming the lender of last resort?

The central bank should also serve as as a lender of last resort to the money market.

Many objections are raised against the idea that the ECB should act as a lender of last resort in government bond markets.

Any effort by the ECB to be the lender of last resort that members need will start a firestorm of protest.

As such it would act as the lender of last resort only to the eurozone banking system, not to sovereigns.

But there is no escaping the rough embrace of the US government, which is now Citi's biggest investor and lender of last resort.

It really revolves around investors concerned about whether the ECB will act as the true lender of last resort.

Founded in 1694, it has centuries of experience in dealing with financial troubles, not least in acting as a lender of last resort.

As one of the three basic factors of financial safety net, lender of last resort can play an important role in dealing with financial risks.

Moreover, the ECB remains adamant that it cannot intervene as the lender of last resort to euro-zone sovereigns.

But when a recession or financial blow-up beckoned, it slashed rates and acted as a lender of last resort.

Lender of last resort policy involves temporarily expanding liquidity and then returning to the price path consistent with price stability.

Acting as lender of last resort, the Austrian central bank increased the money supply by 20% virtually overnight.

The ECB has responded as a lender of last resort to the banking system, expanding and extending its liquidity lines for banks.

Many of those advocating the ECB be the lender of last resort do not offer a quid pro quo.

In effect, he turned the ECB into a lender of last resort for governments.

The European Central Bank (ECB) rejects the idea of acting as a lender of last resort to embattled, but solvent, governments.

Urge the European Central Bank (ECB) to be lender of last resort to vulnerable sovereigns like Italy?

It is not necessary, because the Federal Reserve is able to manage illiquidity through its many lender-of-last resort operations.

But he makes clear that the ECB will not act as a "lender of last resort" to governments.

On Monday the Bundesbank's president questioned the right of the ECB to act as a lender of last resort.

Striking the right balance between being a credible lender of last resort and an effective policy policeman is hard.

The EU lacks a lender of last resort, an institution with virtually unlimited resources to guarantee the survival of the euro.

It is now a financial holding company whose regulator and lender of last resort is the Federal Reserve.

The ECB must also act as a lender of last resort and provide liquidity to support eastern European currencies.

The central bank, as the lender of last resort, and its monetary policy can also affect liquidity management.

A related argument warns that the legislation threatens to politicize lender-of-last-resort decisions.

The central bank, as lender of last resort, is the ultimate guarantor of this collective good.

The trouble is, however, that there is no credible lender of last resort in the eurozone.

This was so feeble that, as Kindleberger says, it marked the end of Britain as a lender of last resort.

Critics have attacked the ECB for failing to step in as a lender of last resort for troubled countries.

The Fed lends at its discount window in its capacity as a lender of last resort.

Seeing the analogy, his Fed has responded to the subprime crisis with aggressive lender-of-last-resort operations.

The Federal Reserve then extended its lender-of-last-resort support to systemically important broker-dealers.

You want the ECB to have that lender of last resort status?

But when Northern Rock, an apparently solvent mortgage bank, applied for lender-of-last-resort support, it forced a U-turn.

Instead we have the European financial stability facility, a curious off-balance sheet lender of last resort.

The key one is the presence and performance of a lender of last resort.

Eurozone members will need the European Central Bank as a lender of last resort.

The Fed is effectively standing as lender of last resort not just to commercial banks but now to investment banks.

Until the late 1990s the IMF, monitor of exchange rates and lender of last resort to struggling governments, had plenty of work.

He also ruled out the ECB acting explicitly as "lender of last resort" .

and reforming plan that makes IMF the international lender of last resort.

He is also accused of overlooking the inadequacy of the central bank's lender-of-last-resort facility.

The role of lender of last resort was classically defined by Walter Bagehot.

She is against allowing the ECB to become the lender of last resort, aka printer of money.

How could the ECB be enticed into becoming lender of last resort?

The latter has acted as lender of last resort to troubled banks.

It can refuse to act as lender of last resort, but it cannot shirk its responsibility to fund the banking system.

Who is going to supervise, regulate and operate as lender of last resort with the gigantic banks that are being created?

There is no lender of last resort.

Well, the world's lender of last resort is leaderless.

Unless there is a lender of last resort that can buy its sovereign debt in this period, the country may become insolvent.

for the first time, investment banks have a lender of last resort (though too late for Bear, alas).

Another is that it has a lender of last resort; Spain doesn't.

The People's Bank of China as America's lender of last resort?

How far, for example, do the responsibilities of central banks as "lender-of-last-resort" during crises stretch?

Having the ECB act as a full lender of last resort will detract from these requirements and may throw up more problems in the longer term;

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Lender of Last Resort in U. S. : Experience and Revelation

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lender of last resort system