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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
 Branch
Chips
Daylight overdraft
Eurodollars
Euro
Fed
Foreign
Run
U
 
 Related Terms
 Euro
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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Beware of fraud originating in phone messages and faxes: FDIC Consumer News has warned before about crooks who call or e-mail consumers and pretend to be legitimate companies or government agencies wanting people to "verify" or "resubmit" (divulge) confidential information such as bank account or credit card numbers as well as Social Security numbers, passwords and personal identification numbers. Here are variations to know about. More...

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