Title: Lender of last resort function of central banks

Essay Details

Subject: Business
Author: Melissa B
Date: October 13, 2016
Level: University
Grade: C
Length: 3 / 629
No of views: 0
Essay rating: good 0, average 0, bad 0 (total score: 0)

Essay text:

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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