The euro market erodes US financial structure

.

Chapter 2 in All Fall Down, 2018, pp 21-28 from Edward Elgar Publishing

Abstract: The shift from a bank-based financial system to a market-based system began with the creation of the unregulated Eurocurrency market in the 1960s. It accommodated the key currency international monetary system by providing foreign exchange and cross-border transactions denominated in currencies outside the borders of the countries that issued them. Institutions’ reliance on borrowing from, lending to, and dealing in derivatives with other financial institutions created a web of interconnectedness in the external market that was first tested by the failure of Franklin National Bank in 1975.

Keywords: Economics and Finance; Politics and Public Policy (search for similar items in EconPapers)
Date: 2018
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://www.elgaronline.com/view/9781788119481.00010.xml (application/pdf)
Our link check indicates that this URL is bad, the error code is: 503 Service Temporarily Unavailable

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:18346_2

Ordering information: This item can be ordered from
http://www.e-elgar.com

Access Statistics for this chapter

More chapters in Chapters from Edward Elgar Publishing
Bibliographic data for series maintained by Darrel McCalla ().