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Enemy of none but a common friend of all?
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Giannini, Curzio

Enemy of none but a common friend of all? : an international perspective on the lender-of-last-resort function / by Curzio Giannini

Roma : Banca d'Italia, 1998

Temi di discussione del Servizio studi / Banca d'Italia ; 341

Abstract: The paper explores whether and how current lending-of-last-resort practice can be extended beyond national borders. It argues that what makes lending of last resort effective at the national level is a blend of resources availability, technical discretion, ex-ante supervision, and powers of enforcement.