| 单词 | eurocurrency |
| 释义 | eurocurrency A currency held in a country other than its country of origin. For example, dollars deposited in a bank in Switzerland are eurodollars, yen deposited in Germany are euroyen, etc. 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, and 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 and long-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. Euromarkets emerged in the 1950s. |
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