Floating a "Lifeboat": The Banque de France and the Crisis of 1889
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When faced with a run on a "systemically important" but insolvent bank in 1889, the Banque de France pre-emptively organized a lifeboat to ensure that depositors were protected and an orderly liquidation could proceed. To protect the Banque from losses on its lifeboat loan, a guarantee syndicate was
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美国国家经济研究局创建时间：
2014-05-01
