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Excerpt from Bloomberg -- "King’s recipe to prevent a re-run: ensure lenders have enough collateral in place at the central bank to justify it acting as lender of last resort, restoring liquidity to the financial system. 'It is vital to sort out the conditions under which those loans will be made in advance, to make sure that banks do have enough collateral or security to justify those loans, and that it’s big enough to let the central bank lend enough money to prevent a bank run and collapse of the system,' said King, who was succeeded by Mark Carney in 2013 and has now returned to academia."

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