Acharya, Viral V.; Pierret, Diane; Steffen, Sascha - 2018
crisis. As a lender of last resort via the long-term refinancing operations (LTROs), the European Central Bank (ECB) improved … contrast, the ECB's announcement of being a potential buyer of last resort via the Outright Monetary Transaction (OMT) program … effectiveness of two major central bank interventions designed to restore financial stability during the European sovereign debt …