120) New York and London are the largest of these centers, and neither the Bank of England nor the Federal Reserve has reserve requirements on Eurocurrency deposits
Eurocurrency deposits always involve a foreign jurisdiction.
The difference between the offshore Eurocurrency deposit rate and domestic onshore deposit rate for the same currency is frequently positive.
The Kb's portfolio holdings are heavily concentrated in long-term investments in international blue-chips, top-quality bonds such as US Treasuries or UK gilts, eurocurrency deposits
and in real estate in Europe and the US.
10) Eurodollars are a subset of Eurocurrency deposits
, those liabilities of banks generally, denominated in any currency,(11) outside the jurisdiction of that currency.
The issuance of these "Yankee CDs" resulted from the reduction in December of the reserve requirement on nonpersonal time deposits and net Eurocurrency deposits
from 3 percent to zero.
The growth of Eurocurrency deposits
has facilitated Eurodollar loans.
00%, and (b) a eurocurrency rate ("LIBO") determined by reference to the costs of funds for eurocurrency deposits
in dollars in the London interbank market for the interest period relevant to such borrowing adjusted for certain additional costs.