Dobler, Marc
[Verfasser:in]
;
Gray, Simon
[Sonstige Person, Familie und Körperschaft];
Murphy, Diarmuid
[Sonstige Person, Familie und Körperschaft];
Radzewicz-Bak, Bozena
[Sonstige Person, Familie und Körperschaft]
The Lender of Last Resort Function after the Global Financial Crisis
Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments January 2016 erstellt
Beschreibung:
The global financial crisis (GFC) has renewed interest in emergency liquidity support (sometimes referred to as 'Lender of Last Resort') provided by central banks to financial institutions and challenged the traditional way of conducting these operations. Despite a vast literature on the topic, central bank approaches and practices vary considerably. In this paper we focus on, for the most part, the provision of idiosyncratic support, approaching it from an operational perspective; highlighting different approaches adopted by central banks; and also identifying some of the issues that arose during the GFC