Crisis Lending
The action of any lender of last resort (typically, a central bank, on a national or federal level) in providing liquidity to a distressed bank or some other, qualified credit-providing institution is denoted as Emergency Liquidity Assistance (sometimes shortened as ELA).
In the aftermath of the European sovereign-debt crisis, the term has come to signify the injections of liquidity to European private and central banks by the European Central Bank (ECB).
Read more about this topic: Lender Of Last Resort
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