Bericht
Stabilising financial markets: Lending and market making as a last resort
This report looks backwards to the worldwide use of (enhanced) lender of last resort (LOLR) and market maker of last resort (MMLR) facilities during the global financial and the pandemic crises. It discusses how LOLR and MMLR facilities have worked; looking ahead, it considers what benefits and costs they could generate if authorities felt compelled to use them. Based on this analysis, the report presents a set of desirable attributes for an effective enhanced LOLR and MMLR and identifies two avenues for future macroprudential work. First, there is a strong need for an agreed taxonomy for determining which markets are systemic. And second, there is a need for a better understanding of how to structure facilities to mitigate moral hazard.
- ISBN
-
978-92-9472-300-0
- Sprache
-
Englisch
- Erschienen in
-
Series: Reports of the Advisory Scientific Committee ; No. 13
- Klassifikation
-
Wirtschaft
- Thema
-
financial market supervision
central bank
lender of last resort
stockbroker
quantitative easing
Euro zone
Finanzmarktaufsicht
Zentralbank
Lender of Last Resort
Börsenmakler
Quantitative Lockerung
Welt
Eurozone
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Buiter, Willem H.
Cecchetti, Stephen G.
Dominguez, Kathryn M.
Sánchez Serrano, Antonio
- Ereignis
-
Veröffentlichung
- (wer)
-
European Systemic Risk Board (ESRB), European System of Financial Supervision
- (wo)
-
Frankfurt a. M.
- (wann)
-
2023
- DOI
-
doi:10.2849/611143
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Bericht
Beteiligte
- Buiter, Willem H.
- Cecchetti, Stephen G.
- Dominguez, Kathryn M.
- Sánchez Serrano, Antonio
- European Systemic Risk Board (ESRB), European System of Financial Supervision
Entstanden
- 2023
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