The Lender of Last Resort in the European Single Financial Market
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Summary:
This paper examines challenges in effectively implementing the lender-of-last-resort function in the EU single financial market. Briefly highlighted are features of the EU financial landscape that could increase EU systemic financial risk. Briefly described are the complexities of the EU's financialstability architecture for preventing and resolving financial problems, including lender-of-last-resort operations. The paper examines how the lender-of-last-resort function might materialize during a systemic financial disturbance affecting more than one EU member state. The paper identifies challenges and possible ways of enhancing the effectiveness of the existing architecture.
Series:
Working Paper No. 2006/127
Subject:
Banking Financial sector stability Financial services Lender of last resort Systemic risk
English
Publication Date:
May 1, 2006
ISBN/ISSN:
9781451863871/1018-5941
Stock No:
WPIEA2006127
Pages:
23
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