Lender of last resort policy: What reforms are necessary?

The Northern Rock bailout has raised concerns about the ability of current supervisory arrangements to deal with banking crises. This paper uses a formal model of a lender of last resort to derive policy implications regarding the optimal allocation of decision-making authority. Thereby, it contributes to the policy debate in the United Kingdom by proposing reforms to the current supervisory arrangements.

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Year of publication:	2010
Authors:	Ponce, Jorge
Published in:	Journal of Financial Intermediation. - Elsevier, ISSN 1042-9573. - Vol. 19.2010, 2, p. 188-206
Publisher:	Elsevier

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008487914