| 单词 | eurocurrency |
| 释义 | eurocurrency eurocurrency A currency deposit at a bank located outside the country where the currency is issued as a legal tender. For example, dollars deposited in a bank in Switzerland are eurodollars, yen deposited at a US bank are euroyen, etc. The deposit need not be held at a European bank or in Europe. Eurocurrency is used for lending and borrowing; the eurocurrency market often provides a cheap and convenient form of liquidity for the financing of international trade and investment. The main borrowers and lenders are the commercial banks, large companies, the central banks. By raising funds in eurocurrencies it is possible to secure more favourable terms and rates of interest, and sometimes to avoid domestic regulations and taxation. The deposits and loans were initially on a short-term basis but increasing use is being made of medium-term loans, particularly through the raising of eurobonds. This has to some extent replaced the syndicated loan market, in which banks lent money as a group in order to share the risk. |
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