deposit in any bank outside the country of origin. Most Eurocurrency deposits are U.S. dollar deposits, although nearly all major Western currencies are also represented. Eurocurrency deposits are time deposits that can be loaned from one owner to another, ordinarily on a short-term basis. Eurocurrency deposits are not subject to reserve requirements or domestic interest rate ceilings.
money deposited by corporations and national governments in banks away from their home countries, called Eurobanks. The terms Eurocurrency and Eurobanks do not necessarily mean the currencies or the banks are European, though more often than not that is the case. The eurodollaris only one of the Eurocurrencies, though it is the most prevalent. Also known as Euromoney.
money deposited by corporations and national governments in banks away from their home countries, called Eurobanks. The terms Eurocurrency and Eurobanks do not necessarily mean the currencies or the banks are European, though more often than not, that is the case. For instance, dollars deposited in a British bank or Japanese Yen deposited in a bank in South Africa are considered to be Eurocurrency. The Eurodollar is only one of the Eurocurrencies, though it is the most prevalent. Also known as Euromoney.
