Eurocredits


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Eurocredits

Intermediate-term loans of Eurocurrencies made by banking syndicates to corporate and government borrowers.

Eurocredit

Credit extended in a currency outside the jurisdiction of the central bank of the bank extending the credit. For example, an American bank may make a loan denominated in Japanese yen. The term has nothing to do with the euro; and the prefix "euro-" is used more generally to refer to deposits outside the jurisdiction of the local central bank, e.g. "euroruble." Eurocredit loans are usually large and long-term. Banks participating in the eurocredit market generally also participate in the eurocurrency market.
References in periodicals archive ?
residents and on net principal repayments of interbank Eurocredits by other foreign banks to finance their drawings from foreign offices.
He also opened the company's London and Zurich offices and arranged the placement of $250 million in Eurobonds and $125 million in unsecured syndicated Eurocredits for American Savings.
Treasuries, European Government Bonds (basis, repos, swaps, switches, eurocredits, supranationals, corporates and sovereigns), EGB Oddlots, U.