Secured Loans
Euro usually refers to a deposit outside the home country but in the home
country currency. This terminology is confusing given the new European
currency unit, also called the Euro, was introduced on January 1, 1999.
Eurobank
A bank that regularly accepts foreign currency denominated deposits and makes
foreign currency loans.
Eurobond
A bond that is (1) underwritten by an international syndicate, (2) issued
simultaneously to investors in a number of countries, and (3) issued outside the
jurisdiction of any single country.
Euro CDs
CDs issued by a U.S. bank branch or foreign bank located outside the U.S.
Almost all Euro CDs are issued in London.
Euroclear
One of two principal clearing systems in the Eurobond market. It began
operations in 1968, is located in Brussels, and is managed by Morgan Guaranty
Bank. Mainly applies to international equities. European Clearing Organization
which functions similarly to the D.T.C.
Euro-commercial paper
Short-term notes with maturities up to 360 days that are issued by companies in
international money markets.
Eurocredits
Intermediate-term loans of Eurocurrencies made by banking syndicates to
corporate and government borrowers.
Eurocurrency
Euro just means outside your country. So a Eurodollar is a certificate of deposit
in U.S. dollars in some other country (though mainly traded in London). A
Euroyen is a CD in yen outside of Japan.
