Jump to ContentJump to Main Navigation

You are looking at 1-20 of 46 items

  • Keywords: lender of last resort x
Clear All Modify Search

View:

Allocating Lending of Last Resort and Supervision in the Euro Area

Charles M. Kahn and João A. C. Santos

in Monetary Unions and Hard Pegs: Effects on Trade, Financial Development, and Stability

Published in print:
2004
Published Online:
August 2004
ISBN:
9780199271405
eISBN:
9780191601200
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199271402.003.0017
Subject:
Economics and Finance, Economic Systems

The Maastricht Treaty created the European System of Central Banks and the European Central Bank (ECB) to head the system. The treaty entrusts the ECB with the responsibility for monetary policy, but ... More


Comparison of LLR Powers of Fed with Bank of England, European Central Bank, and Bank of Japan

Hal S. Scott

in Connectedness and Contagion: Protecting the Financial System from Panics

Published in print:
2016
Published Online:
January 2017
ISBN:
9780262034371
eISBN:
9780262332156
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262034371.003.0010
Subject:
Economics and Finance, Economic History

The Fed's three major peers are the Bank of England (BOE), the European Central Bank, and the Bank of Japan (BOJ). This chapter begins with a description of the powers of the three peer central ... More


The ECU's Coming of Age

Tommaso Padoa‐Schioppa

in The Road to Monetary Union in Europe: The Emperor, the Kings, and the Genies

Published in print:
2000
Published Online:
November 2003
ISBN:
9780199241767
eISBN:
9780191596742
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199241767.003.0005
Subject:
Economics and Finance, Macro- and Monetary Economics

The main qualitative aspects of the past, present, and future development of the European Currency Unit (ECU) are discussed. Aspects covered are: the formal establishment phase of the ECU clearing ... More


How to Rethink Sovereign Bankruptcy: A New Role for the IMF?

Patrick Bolton and David A. Skeel, Jr.

in Overcoming Developing Country Debt Crises

Published in print:
2010
Published Online:
May 2010
ISBN:
9780199578788
eISBN:
9780191723049
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199578788.003.0016
Subject:
Economics and Finance, Macro- and Monetary Economics, Development, Growth, and Environmental

This chapter suggests investigating a new bankruptcy approach for resolving sovereign debt crises. While some of the basic ideas have been presented in other papers, the innovation introduced here is ... More


History of Lender of Last Resort in the United States

Hal S. Scott

in Connectedness and Contagion: Protecting the Financial System from Panics

Published in print:
2016
Published Online:
January 2017
ISBN:
9780262034371
eISBN:
9780262332156
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262034371.003.0008
Subject:
Economics and Finance, Economic History

The government successfully responded to the 2008 financial crisis through the Federal Reserve's use of its lender-of-last-resort (LLR) authority. The presence of a strong LLR is paramount to ... More


Spanish Banking in the Inter‐War Period

Pablo Martín‐Aceña

in Banking, Currency, and Finance in Europe Between the Wars

Published in print:
1995
Published Online:
November 2003
ISBN:
9780198288039
eISBN:
9780191596230
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198288034.003.0021
Subject:
Economics and Finance, Macro- and Monetary Economics, Economic History

During the inter‐war years, the Spanish financial system evolved from unit to branch banking, with an increase in the size and sphere of influence of the big banks, and a higher degree of ... More


Dodd–Frank Restrictions on the Lender-of-Last-Resort Power

Hal S. Scott

in Connectedness and Contagion: Protecting the Financial System from Panics

Published in print:
2016
Published Online:
January 2017
ISBN:
9780262034371
eISBN:
9780262332156
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262034371.003.0009
Subject:
Economics and Finance, Economic History

The Dodd–Frank Act placed important restrictions on the Fed's power as lender of last resort (LLR) to nonbanks under §13(3) as part of the post-crisis reaction that its lending constituted an ... More


The International Monetary System: Living with Asymmetry

Maurice Obstfeld

in Globalization in an Age of Crisis: Multilateral Economic Cooperation in the Twenty-First Century

Published in print:
2014
Published Online:
September 2014
ISBN:
9780226030753
eISBN:
9780226030890
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226030890.003.0009
Subject:
Economics and Finance, International

The international monetary system faces a growing asymmetry between advanced and emerging nations, echoing the pattern of the late Bretton Woods System. Emerging countries facing the threat of ... More


The Crisis in the Euro Zone

Assaf Razin

in Understanding Global Crises: An Emerging Paradigm

Published in print:
2015
Published Online:
May 2016
ISBN:
9780262028592
eISBN:
9780262327701
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262028592.003.0004
Subject:
Economics and Finance, International

The EMU by contrast is a dubious candidate for an optimal currency area because although it too trades intensively within the region, national work restrictions greatly impair intra-European labor ... More


Regulation and Regulators, 2007–20

Ranald C. Michie

in Banks, Exchanges, and Regulators: Global Financial Markets from the 1970s

Published in print:
2020
Published Online:
December 2020
ISBN:
9780199553730
eISBN:
9780191905445
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780199553730.003.0019
Subject:
Business and Management, Finance, Accounting, and Banking, Corporate Governance and Accountability

What regulators had prioritized before the crisis was competition, investor protection, and stability. Competition was to be achieved by removing internal and external barriers as these distorted the ... More


Strengthening the LLR Powers of the Fed

Hal S. Scott

in Connectedness and Contagion: Protecting the Financial System from Panics

Published in print:
2016
Published Online:
January 2017
ISBN:
9780262034371
eISBN:
9780262332156
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262034371.003.0011
Subject:
Economics and Finance, Economic History

This chapter focuses on ways to strengthen the Fed's role as lender of last resort (LLR). The first approach is to follow the lead of other central banks by dividing LLR powers between normal times ... More


Banking, Public Finance, and the Economy: Greece, 1919–1933

George B. Dertilis and Constantine Costis

in Banking, Currency, and Finance in Europe Between the Wars

Published in print:
1995
Published Online:
November 2003
ISBN:
9780198288039
eISBN:
9780191596230
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198288034.003.0019
Subject:
Economics and Finance, Macro- and Monetary Economics, Economic History

Three chronic economic problems afflicted Greece during the inter‐war period: the deficit on the trade account, high public expenditure combined with comparatively low revenues, and a heavy public ... More


Monetary Policy Operations and the Financial System

Ulrich Bindseil

Published in print:
2014
Published Online:
October 2014
ISBN:
9780198716907
eISBN:
9780191785559
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198716907.001.0001
Subject:
Economics and Finance, Macro- and Monetary Economics

This book provides an introduction to central bank monetary policy operations in normal and crisis times. Since 2007, central banks of industrialized countries have counteracted financial ... More


Choice and Connections, 1825–1914

Ranald C. Michie

in British Banking: Continuity and Change from 1694 to the Present

Published in print:
2016
Published Online:
December 2016
ISBN:
9780198727361
eISBN:
9780191793516
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198727361.003.0005
Subject:
Business and Management, Business History, Finance, Accounting, and Banking

Despite the rise of a small number of large joint-stock banks in the nineteenth century there remained a considerable diversity within British banking. In the market for savings, savings banks and ... More


The ILLR in Theory and Practice

Daniel McDowell

in Brother, Can You Spare a Billion?: The United States, the IMF, and the International Lender of Last Resort

Published in print:
2017
Published Online:
December 2016
ISBN:
9780190605766
eISBN:
9780190609504
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780190605766.003.0002
Subject:
Political Science, Political Economy, International Relations and Politics

While the International Monetary Fund (IMF) has often been referred to as a de facto international lender of last resort (ILLR), this chapter explains why the Fund is not ideally positioned for the ... More


Public Support and Subsidized Finance

Morgan Ricks

in The Money Problem: Rethinking Financial Regulation

Published in print:
2016
Published Online:
September 2016
ISBN:
9780226330327
eISBN:
9780226330464
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226330464.003.0008
Subject:
Law, Company and Commercial Law

The lender of last resort (LOLR) is widely viewed to be a sound and adequate response to the panic problem, at least if used judiciously. This chapter aims to challenge this widespread view. There ... More


Chapter Seven Public Support and Subsidized Finance

Morgan Ricks

in The Money Problem: Rethinking Financial Regulation

Published in print:
2016
Published Online:
September 2016
ISBN:
9780226330327
eISBN:
9780226330464
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226330464.003.0008
Subject:
Law, Company and Commercial Law

The lender of last resort (LOLR) is widely viewed to be a sound and adequate response to the panic problem, at least if used judiciously. This chapter aims to challenge this widespread view. There ... More


Lender of Last Resort

Ulrich Bindseil

in Central Banking before 1800: A Rehabilitation

Published in print:
2019
Published Online:
July 2020
ISBN:
9780198849995
eISBN:
9780191884429
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198849995.003.0006
Subject:
Economics and Finance, Economic History

The recent central banking literature often argues that the LOLR function would be the key feature defining a ‘modern’ central bank. This chapter argues that this view may appear too radical (despite ... More


Brother, Can You Spare a Billion?: The United States, the IMF, and the International Lender of Last Resort

Daniel McDowell

Published in print:
2017
Published Online:
December 2016
ISBN:
9780190605766
eISBN:
9780190609504
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780190605766.001.0001
Subject:
Political Science, Political Economy, International Relations and Politics

When financial crises occur, it has long been accepted that national economies need a lender of last resort to stabilize markets. In today’s global financial system, crises are rarely confined to one ... More


Did the G20 Save the Day?

Eric Helleiner

in The Status Quo Crisis: Global Financial Governance After the 2008 Meltdown

Published in print:
2014
Published Online:
August 2014
ISBN:
9780199973637
eISBN:
9780190203207
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199973637.003.0002
Subject:
Political Science, Political Economy

Many analysts argue that the creation of the new G20 leaders’ forum in November 2008 played a crucial role in preventing the 2008 financial crisis from generating a second Great Depression. This ... More


View: