Also found in: Dictionary.
Intermediate-term loans of Eurocurrencies made by banking syndicates to corporate and government borrowers.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved