Euro feds

• Eurodollars transmitted over the Fed wire instead of through CHIPS. Normally Euro Feds move from a foreign branch of one U.S. bank to a foreign branch of another U.S. bank, for example, from Citi Nassau to Morgan London. Foreign banks use CHIPS, not the Fed wire, to pay and receive Euros because they may not run daylight overdrafts at the Fed.

 Embedded terms in definition
Daylight overdraft
 Related Terms
Euro cds
Euro commercial paper
Euro lines
Euro medium term note
Euro mtns
Euro note
Euro or euro currency unit
Euro straight

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