Euro CD

Euro CD

A certificate of deposit issued primarily in London by a foreign bank or a foreign branch of a U.S. bank.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
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By necessity we use 1- and 3-month euro commercial paper rates because a well-developed euro CD market does not exist.