Origins of the Euromarkets

Richard Roberts and Christopher Arnander

Chapter Chapter 1 in Take Your Partners, 2001, pp 3-15 from Palgrave Macmillan

Abstract: Abstract Consortium banks were creatures of the Euromarkets, and it is with the rise of the Eurodollar that their story begins. Eurodollars are deposits of US dollars with commercial banks or their branches situated outside the United States of America. At the outset, the Eurodollar market was made up of banks situated in European financial centres, mainly London, but also Paris, Brussels, Luxembourg and Switzerland. These banks, which included overseas branches of US banks, bid for US dollar deposits and offered loans in US dollars. These operations were conducted at the wholesale interbank level, in large amounts.

Keywords: Commercial Bank; European Central Bank; Foreign Bank; International Capital Market; Interbank Market (search for similar items in EconPapers)
Date: 2001
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-59651-1_2

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DOI: 10.1057/9780230596511_2

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