The bank serves as a lender of last resort for credit organizations.

One way or another, he says, international agencies will have to serve as lenders of last resort.

But not everyone is eager to create a true international lender of last resort.

The fund also wants to be a lender of last resort.

"Does the system now have a lender of last resort?"

Eventually the Bank will be required as lender of last resort.

The major central banks should continue to drive down short-term interest rates and stand by as lenders of last resort.

Our responsibility was to act as a lender of last resort.

Which means there's no chance it can afford to act as the lender of last resort.

Once a crash comes, it is not easy for a lender of last resort to know when, and how, to act.