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Eurodollars

• U.S. dollars deposited in a foreign bank or foreign branch of a U.S. bank. Maturities usually less than 6 months and interest rates are always fixed (expressed as LIBOR rates).

 
 Embedded terms in definition
 Branch
Foreign
Interest rate
Interest
Libor
U
 
 Referenced Terms
 Acus: Asian currency units. An expression for Eurodollars deposited in Far East centers.

 Bond equivalent yield: Is the procedure which relates discounted rates such as treasury bills and Eurodollars to a bond standard. It is typical for discounted paper to be computed on the basis of a 360-day year whereas bonds are usually based on a 365 day year. If this equivalency is not done then the quoted short-term rates for discounted instruments may be understated.The annualized yield to maturity computed by doubling the semiannual yield.Bond yield calculated on an annual percentage rate method. Differs from annual effective yield.

 Commodity or commodities: Are often viewed as the futures markets on both physical and financial items. Sometimes, commodities is used more narrowly to refer to physical goods such as, gold, silver, wheat, and pork bellies. Then financial futures would refer to stock indices, Eurodollars, treasuries, currencies, and other security-type instruments. In a more restrictive sense, commodity or commodities refer to the actuals in the spot market.

 Either/or facility: An agreement permitting a bank customer to borrow either domestic dollars from the bank's head office or Eurodollars from one of its foreign branches.An agreement permitting a bank customer to borrow either domestic dollars from the bank's head office or Eurodollars from one of its foreign branches.

 Either/or facility: An agreement permitting a bank customer to borrow either domestic dollars from the bank's head office or Eurodollars from one of its foreign branches.An agreement permitting a bank customer to borrow either domestic dollars from the bank's head office or Eurodollars from one of its foreign branches.

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