lender of last resort

/L EH1 N D ER0 AH0 V L AE0 S T R IH0 Z AO0 R T/
noun
  1. 1

    (finance) The institution in a financial system that acts as the provider of liquidity to a financial institution that finds itself unable to obtain sufficient liquidity in the interbank lending market and has exhausted other possible sources.

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