The ECB as the ‘intermediary of last resort’
09/18/2023
3 min
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In this video, Professor Aurore BURIETZ-BARAKAT speaks about her research on the different measures the European Central Bank (ECB) implemented to support banks in the aftermath of the 2008 global financial crisis.
Amid the magnitude of the financial shock and the increasing pressures on the global banking industry, central banks including the ECB had to intervene to provide credit institutions with financial support. However, like other central banks, the ECB had to develop new and unconventional monetary measures in its portfolio of policy tools to help curb the financial crisis. The question is: were they efficient?
More information is also available in the article she co-authored with Matthieu PICAULT from the University of Orleans : “To lend or not to lend? The ECB as the ‘intermediary of last resort’” – Economic Modelling (2023)
