Lender of last resort
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In public finance, a lender of last resort is a financial entity, generally a central bank, that acts as the provider of liquidity to a financial institution which finds itself unable to obtain suffic
The Federal Reserve System headquarters in Washington, D.C.
The Bank of England in London
The Reserve Bank of New Zealand in Wellington
Government Vedder Highsmith detail 1
International Monetary Fund
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The International Monetary Fund is an international financial institution and a specialized agency of the United Nations, headquartered in Washington, D.C. It consists of 191 member countries, and its
Lender of last resort
…an international lender of last resort (ILOLR) is technically impossible, while the other (Fischer, Obstfeld, Goodhardt and Huang) wants a modified International Monetary Fund (IMF) to assume this role. Fischer argues that financial crises have become more interconnected, which requires an international lender of last resort…
Headquarters in Washington, D.C.
Plaque Commemorating the Formation of the IMF in July 1944 at the Bretton Woods Conference
The Gold Room within the Mount Washington Hotel, where the Bretton Woods Conference attendees signed the agreements creating the IMF and World Bank
First page of the Articles of Agreement of the International Monetary Fund, 1 March 1946, Finnish Ministry of Foreign Affairs archives