6  In the modern context, the expression “lender of last resort” is sometimes reserved to designate the provision of Emergency Liquidity Assistance” (ELA) to individual institutions and not to the system as a whole.
We will continue to monitor the risks from Brexit as we see them, continue to communicate them publicly and with our firms, and actively engage in constructive fora such as this. Thank you for your attention. 1 See most recent Central Bank of Ireland Macro-Financial Review 2 See Sibley, Ed.