, not defined in a market, but by the collateral frameworks and interest rate policies of central banks. Using the … forces and discipline. The paper also emphasizes the important role of ratings and government guarantees in the Eurosystem …

banks in resolution. It examines the provision of liquidity in the United States, the United Kingdom, Japan, Canada and the …-level guarantee framework – which would allow access to Eurosystem liquidity for banks coming out of resolution with limited …As a response to the global financial crisis that started in 2008, many countries established dedicated resolution …