Science Fair Project Encyclopedia
Lender of last resort
The term lender of last resort referrs to the capacity of a central bank of a country to bankroll the government of that country and to act as a lender to the smaller banks of the country.
Alternatively, a lender of last resort is a bank, check cashing store or card shark who lends money and then literally charges exorbitant interest and late fees.
See also
10-26-2009 08:16:03
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The contents of this article is licensed from www.wikipedia.org under the GNU Free Documentation License. Click here to see the transparent copy and copyright details