Browsing Staff Memo by Subject "financial crisis"
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The rationale for central bank liquidity insurance and liquidity regulation
(Staff Memo;3/2020, Working paper, 2020)One of the core functions of a central bank is to provide liquidity insurance, often termed the lender of last resort (LLR) function. During and after the Great Financial Crisis (GFC) in 2007-09 central banks’ role as ...