| 单词 | lender of last resort |
| 释义 | lender of last resort A country's central bank with responsibility for controlling its banking system. In the UK, the Bank of England fulfils this role, lending to discount houses, either by repurchasing Treasury bills, lending on other paper assets, or granting direct loans, charging the base rate of interest. Commercial banks do not go directly to the Bank of England; they borrow from the discount houses. |
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