Speech by Mr Paul Fisher, Executive Director for Markets and Member of the Monetary Policy Committee of the Bank of England, for the Association of Corporate Treasurers Winter Paper 2010, London, 18 February 2010.
In this speech, Mr Paul Fisher addresses, i.a., central banks' market maker of last resort (MMLR) function that may be necessary with a view to "maintaining conditions for the stable provision of financial services to the wider economy."
This MMLR function--similar to central bank's lender of last resort function (LLR)--was eleborated upon by Mr Paul Tucker, Deputy Governor Financial Stability BoE, in his 2009 speech ‘The Repertoire of Official Sector Interventions in the Financial System: Last Resort Lending, Market-Making, and Capital.’
