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Handbook of Safeguarding Global Financial Stability by Gerard Caprio

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Chapter 41

Innovations in Lender of Last Resort Policy in Europe

J.M. González-Páramo

European Central Bank, Frankfurt am Main, Germany

Outline

Introduction

The financial crisis that started in 2007 has created new analytical and practical challenges for central banks across many of their traditional activities, not least in their role as lenders of last resort (LoLRs). This is particularly apparent in ...

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