lender of last resort

简明释义

最后贷出人,最后贷款者

英英释义

例句

1.During the financial crisis, the central bank acted as a lender of last resort 最后贷款人 to prevent the collapse of major banks.

在金融危机期间，中央银行充当了最后贷款人 lender of last resort，以防止主要银行的倒闭。

2.When the stock market crashed, many companies sought help from the lender of last resort 最后贷款人 to stay afloat.

当股市崩盘时，许多公司寻求来自最后贷款人 lender of last resort 的帮助以维持生存。

3.The Federal Reserve serves as the lender of last resort 最后贷款人 for commercial banks facing liquidity issues.

美联储为面临流动性问题的商业银行担任最后贷款人 lender of last resort。

4.In times of economic uncertainty, the role of the lender of last resort 最后贷款人 becomes crucial for maintaining financial stability.

在经济不确定时期，最后贷款人 lender of last resort 的角色对于维持金融稳定至关重要。

5.The government turned to the lender of last resort 最后贷款人 when private investors were unwilling to provide funding.

当私人投资者不愿提供资金时，政府转向了最后贷款人 lender of last resort。

作文

In the world of finance and economics, the term lender of last resort refers to an institution, usually a central bank, that provides funds to financial institutions or even governments in times of financial distress. This concept is crucial for maintaining stability in the financial system, especially during crises when liquidity is scarce. When banks face insolvency or are unable to meet their short-term obligations, they can turn to the lender of last resort for emergency funding. This support is essential to prevent a complete collapse of the financial system, which could lead to widespread economic turmoil.The role of the lender of last resort is primarily to provide a safety net for financial institutions. For instance, during the 2008 financial crisis, many banks were on the brink of failure due to a lack of confidence among investors and depositors. The Federal Reserve, acting as the lender of last resort, intervened by offering loans to these troubled banks, thus stabilizing the banking sector and preventing a potential economic disaster.However, the actions of a lender of last resort are not without controversy. Critics argue that providing emergency funding can create moral hazard, where financial institutions may engage in reckless behavior, knowing that they will be bailed out in times of trouble. This can lead to a cycle of dependency on the lender of last resort, undermining the principles of sound financial management and risk-taking.Moreover, the decision to act as a lender of last resort requires careful consideration of the broader implications for the economy. Central banks must weigh the risks of inflation and currency devaluation against the need for immediate financial stability. Therefore, while the lender of last resort plays a vital role in crisis management, it must also navigate the complex landscape of economic policy.In addition to providing liquidity, the lender of last resort also serves as a source of confidence for the market. When financial institutions know that they have access to emergency funds, it can help restore trust among investors and consumers. This is particularly important during periods of uncertainty when fear can exacerbate financial problems.In conclusion, the concept of lender of last resort is a foundational element of modern financial systems. It highlights the importance of having mechanisms in place to address crises and maintain stability. While there are valid concerns about the potential downsides of this role, the benefits of having a lender of last resort can outweigh the risks when managed prudently. As economies continue to evolve, the function of the lender of last resort will remain critical in ensuring the resilience of the financial system and protecting against future crises.

在金融和经济的世界中，短语最后贷款人指的是一个机构，通常是中央银行，在金融危机时期向金融机构甚至政府提供资金。这个概念对于维护金融系统的稳定至关重要，尤其是在流动性稀缺的危机时期。当银行面临资不抵债或无法满足短期义务时，它们可以向最后贷款人寻求紧急资金。这种支持对于防止金融系统的完全崩溃至关重要，这可能导致广泛的经济动荡。最后贷款人的角色主要是为金融机构提供安全网。例如，在2008年金融危机期间，由于投资者和存款人的信心缺失，许多银行濒临破产。作为最后贷款人的美联储通过向这些陷入困境的银行提供贷款进行干预，从而稳定了银行业，防止了潜在的经济灾难。然而，最后贷款人的行为并非没有争议。批评者认为，提供紧急资金可能会造成道德风险，金融机构可能会采取鲁莽的行为，因为它们知道在遇到麻烦时会被救助。这可能导致对最后贷款人的依赖循环，削弱良好金融管理和风险承担的原则。此外，作为最后贷款人的决定需要仔细考虑对经济的更广泛影响。中央银行必须权衡通货膨胀和货币贬值的风险与即时金融稳定的需求。因此，尽管最后贷款人在危机管理中扮演着至关重要的角色，但它还必须在复杂的经济政策环境中航行。除了提供流动性外，最后贷款人还作为市场信心的来源。当金融机构知道它们可以获得紧急资金时，这可以帮助恢复投资者和消费者之间的信任。这在不确定时期尤为重要，因为恐惧可能加剧金融问题。总之，最后贷款人的概念是现代金融系统的基础元素。它突显了在危机情况下解决问题和维护稳定机制的重要性。虽然对这一角色潜在缺点的担忧是合理的，但在谨慎管理的情况下，拥有最后贷款人的好处可以超过风险。随着经济的不断发展，最后贷款人的职能将在确保金融系统的韧性和保护未来危机方面继续至关重要。