Lender of Last Resort

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

Famous quotes containing the word resort:

    The last resort of kings, the cannonball. The last resort of the people, the paving stone.
    Victor Hugo (1802–1885)