Lender of last resort function of central banks

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Issue:

Business

 

Written by:

Ellen W

 

Date added:

August 26, 2015

 

Level:

University

 

Grade:

A

 

No of pages / words:

3 / 629

 

Was viewed:

3744 times

 

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Essay content:

Irresponsible financiers, excessive risk taking while investing in complex security, and regulatory reforms for “credit default swap (CDS), for example, is likely to face more scrutiny” (Tett, 2008), along with mark-to-market accounting which had been held responsible for using flawed sources of valuation hurting bank’s capital base...
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This is reflected by the period of recent volatility in the financial markets, which includes the largest stock market drop in the past seven years (Mackenzie, 2008). On September 17, 2008 Michael Mackenzie and Paul J Davies wrote in a Financial Times article that a widespread loss of confidence in financial debt could cause severe repercussions, after all shares of money market funds that are supposed to be safe as cash have become the haven to many retail investors...
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