The Lender of Last Resort in the European Single Financial Market / / Pedro Gustavo Teixeira, Garry Schinasi

• Record Nr.: UNINA9910788697203321
• Autore: Teixeira Pedro Gustavo
• Pubbl/distr/stampa: Washington, D.C. : , : International Monetary Fund, , 2006
• ISBN: 1-4623-1247-0; 1-4527-7335-1; 1-283-51844-9; 1-4519-9936-4; 9786613830890
• Descrizione fisica: 1 online resource (23 p.)
• Collana: IMF Working Papers
• Altri autori (Persone): SchinasiGarry
• Soggetti: Lenders of last resort - Europe; Banks and banking - Europe; Banks and Banking; Finance: General; Financial Risk Management; Industries: Financial Services; Banks; Depository Institutions; Micro Finance Institutions; Mortgages; Financial Institutions and Services: Government Policy and Regulation; General Financial Markets: Government Policy and Regulation; Banking; Finance; Economic & financial crises & disasters; Lender of last resort; Financial sector stability; Systemic risk; Financial services; Banks and banking; Financial services industry; Financial risk management; Belgium
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: "May 2006."
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: ""Contents""; ""I. INTRODUCTION""; ""II. SYSTEMIC RISK IN THE SINGLE FINANCIAL MARKET""; ""III. THE ARCHITECTURE FOR FINANCIAL CRISIS MANAGEMENT""; ""IV. THE LENDER OF LAST RESORT FUNCTION IN PRACTICE""; ""V. CHALLENGES""; ""VI. WAYS FORWARD: COORDINATION VS. CENTRALIZATION OF POLICYMAKING""; ""Bibliography""
• Sommario/riassunto: 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.