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The International Lender of Last Resort
2005The primary argument for an international lender of last resort is to reduce the likelihood that a country would transmit a deflationary shock to its trading partners, because the price of its currency would decline in response to a temporary surge in import payments or a shortfall in export earnings.
Robert Z. Aliber +1 more
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Liquidity, Risk-Taking and the Lender of Last Resort [PDF]
International Journal of Central Banking, 2005 This paper studies the strategic interaction between a bank whose deposits are randomly withdrawn, and a lender of last resort (LLR) that bases its decision on supervisory information on the quality of the bank’s assets. The bank is subject to a capital requirement and chooses the liquidity buffer that it wants to hold and the risk of its loan ...
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International Lender of Last Resort
2000This comment discusses the issues regarding the scale of conditional finance offered by the International Monetary Fund in recent rescue packages, and the related issues regarding a true lender of last resort. It reviews critiques of the Fund?s performance in recent emerging-market crises, noting that they come from opposite directions.
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Money and the Lender of Last Resort
Challenge, 1985In 1957, when my Central Banking and Money Market Changes appeared, there may have been some novelty in pointing out that the monetary and financial instruments, usages, and behavior of the significant banking institutions and financial markets changeor evolvein response to perceived profit opportunities. In 1985, it is commonplace.
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Earmarks of a Lender of Last Resort
2002Abstract Some observers of the fmancial distress of countries in Asia and Latin America in recent years have suggested that what the world needs is an international lender of last resort. The institution that could serve this purpose, it is claimed, is the International Monetary Fund (IMF), either as presently constituted, or perhaps ...
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Pawnshops :Lenders Of Last Resort
1999Abstract Anthony Bock takes an enormous bite of his cornedbeef-on-rye, pulls himself out of his chair, and begins speaking, unconcerned with the crumbs falling from his mouth and the piece of lettuce hanging from his chin. “You’re a journalist. Ask the questions. You ever interview a lawyer before?’ “You’re a lawyer?” Bock stares back
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Surviving the Perfect Storm: The Role of the Lender of Last Resort☆
Journal of Financial Intermediation, 2021Diana Bonfim
exaly
The lender of last resort in court [PDF]
, 2014 Is the OMT program in violation of the ECB's mandate? This paper applies the economic argumentation put forth by the OMT's opponents and supporters before the Federal German Constitutional Court [Bundesverfassungsgericht] to the full allotment policy practiced by the ECB since October 2008.
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