Eurosterling


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Eurosterling

A British pound deposit in a bank outside the jurisdiction of the Bank of England; that is, outside the United Kingdom. The eurosterling is also called the europound.

The term has nothing to do with the euro, and the prefix "euro-" is used generally to refer to deposits outside the jurisdiction of the local central bank, such as in "euroruble."
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195) Additionally, residents were not allowed to lend sterling deposits on the Eurosterling market without permission of the Bank of England, which was rarely granted.
Eurosterling, sterling CD, and JY TIBOR rates are quoted according to an actual/365 day-count basis whereas the convention is to quote all other Eurocurrency and domestic money market rates according to an actual/360 day-count basis.
Last month Tesco Ireland introduced a eurosterling price parity on all its clothes as part of a EUR 20million price restructuring.
The Eurosterling rate pertains to loans made outside the United Kingdom and the LIBOR applies to loans made inside the United Kingdom.
50% Eurosterling bonds which mature in 2012 which further extends the maturity profile of Group debt.
Financing During the first half, the group increased cash resources through the issue of 100 million pounds five-year Eurosterling bonds.
Salomon Smith Barney today announced enhancements to its World Government Bond Index(SM) (WGBI) and its Eurodollar, Eurosterling, and Euroyen Bond Indexes.