Central Banks as Regulators and Lenders of Last Resort in an International Context: A View from the United States

Henry C. Wallich

Chapter 12 in Money and the Economy: Central Bankers’ Views, 1987, pp 231-242 from Palgrave Macmillan

Abstract: Abstract The term ‘lender of last resort’ implies a degree of specificity that goes beyond what that function can legitimately claim. I have never seen, in visits to central banks, a door marked ‘lender-of-last-resort department,’ nor met a vice-president in charge of such an activity.

Keywords: Central Bank; Federal Reserve; Banking Institution; International Banking; Foreign Operation (search for similar items in EconPapers)
Date: 1987
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-07927-8_13

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DOI: 10.1007/978-1-349-07927-8_13

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