Lessons of the past and prospects for the future in lender of last resort theory

A history of the changes in the theory of the role of the lender of last resort--as a source of solvency versus liquidity support--and a discussion of the distinction between necessity and convenience (the American and European versions of lender of last resort theory) in mounting rescue operations through the central bank.

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Year of publication:	1988
Authors:	Todd, Walker F.
Institutions:	Federal Reserve Bank of Cleveland
Subject:	Discount window \| Banks and banking \| Central \| Federal Reserve System - History \| Lenders of last resort

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Extent:	application/pdf
Series:	Working Paper.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 8805
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005428226