'Bagehot and the Lender of Last Resort - 150 Years On' - Speech by Brad Jones

In this speech to the 36th Australasian Finance & Banking Conference on 14 December 2023, Brad Jones, Assistant Governor (Financial System), spoke about a brief history of the origins of emergency central bank lending, internationally and in Australia; how the application of last resort operations has evolved around the world in more recent times and how these wider developments have been reflected in aspects of the Reserve Bank’s own framework.