Eurosecurity

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Eurosecurity

A security issued or traded in a country using a currency other than the one in which the security is denominated. This means that the security uses a certain currency, but operates outside the jurisdiction of the central bank that issues that currency. Eurosecurities are issued by multinational corporations; for example, a British company may issue a bond in Germany, denominating it in U.S. dollars. The term has nothing to do with the euro; the prefix "euro-" is used more generally to refer to deposits outside the jurisdiction of the domestic central bank.