Emergency Lending and Monetary Financing
The Brussels View on lending to insolvent firms
Readers of this site will be familiar with my interest in Brussels’ definition of monetary financing, something we’ve talked about here before. But the plot thickens. After much more digging and the benefit of case studies put together by the wonderful folks at the Yale Program on Financial Stability (YPFS), I’ve put together what I hope is a somewhat novel review of the EU’s (and Eurosystem’s) views on monetary financing as it relates to central bank lending to an insolvent firm. Check it out over at YPFS:
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This work is independent from and not endorsed by the Yale Program on Financial Stability or Yale University; all views are my own.