As the issuers of the global reserve currency, the U.S. dollar, the Federal Reserve and the U.S. Treasury are the de facto international lender of last resort (ILLR) institutions in the global economy. Access to emergency liquidity in the U.S. Dollar is the most effective aspect of the global financial safety net. However, only some countries have access to the international lenders of last resort. This talk will explore the selective provision of emergency lending provided by the Federal Reserve, in the form of Reciprocal Currency Arrangements or swap lines, and in the form of a short-term loan from the U.S. Treasury's Exchange Stabilization Fund. Furthermore, it will investigate the economic and political factors in explaining the differential support provided by these lenders of last resort and the conditions under which this support is extended. By providing a historical account of the evolution of the role these lenders of last resort have played since 1962, how the relationship between the Federal Reserve and the Treasury has evolved, and by presenting an econometric analysis, this talk assesses the relative importance of economic and political factors in explaining access to ILLR institutions between 1982 and 2018. Even though these ILLR institutions are the only ones that have the capacity to serve as the International Lender of Last Resort, the extension of ILLR support is exercised in a discretionary and politically strategic manner.