Chapter 41
Innovations in Lender of Last Resort Policy in Europe
Outline
LoLR in the Euro Area under ‘Normal’ Market Conditions
LoLR in the Euro Area during ‘Exceptional Times’
Providing Liquidity to the Market as a Whole
Money markets and bank funding liquidity
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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