Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

English definition of “lender of last resort”

lender of last resort

noun [C]
 
 
BANKING, FINANCE, ECONOMICS
a central bank or international organization that lends money to banks or countries in difficult financial periods when they cannot borrow from anywhere else: The IMF is known as the lender of last resort to countries in financial trouble.
(Definition of lender of last resort from the Cambridge Business English Dictionary © Cambridge University Press)
What is the pronunciation of lender of last resort?
Add Cambridge dictionaries to your browser to your website

Word of the Day

piglet

a baby pig

Word of the Day

I won’t tolerate it! Replacing formal words with phrasal verbs.

by Liz Walter,
April 01, 2015
When you are using a language, it is important to understand if a word is formal or informal, so that you can use it in an appropriate way. You might hear people saying dosh for money, or spud for potato, but they wouldn’t write those words in a formal essay. Similarly, a

Read More 

stackin’ p

March 30, 2015
idiom slang earning a lot of money ‘That’s a very generous present.”Yeah, well, she’s stackin’ p, innit?’

Read More