A lender of last resort is an institution willing to extend credit when no one else will. The term refers especially to a reserve financial institution, most often the central bank of a country, intended to avoid bankruptcy of banks or other institutions deemed systemically important or 'too big to fail'.
Read more about Lender Of Last Resort: Purpose, Retail Lending, Crisis Lending, Criticisms
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“I trust the time is nigh when, with the universal assent of civilized people, all international differences shall be determined without resort to arms by the benignant processes of civilization.”
—Chester A. Arthur (1829–1886)