Eurosecurity

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Eurosecurity

A security issued or traded in a country using a currency other than the one in which the security is denominated. This means that the security uses a certain currency, but operates outside the jurisdiction of the central bank that issues that currency. Eurosecurities are issued by multinational corporations; for example, a British company may issue a bond in Germany, denominating it in U.S. dollars. The term has nothing to do with the euro; the prefix "euro-" is used more generally to refer to deposits outside the jurisdiction of the domestic central bank.
References in periodicals archive ?
was founded in 1998 by CIC under the brand CM-CIC Eurosecurities.
"Eurosecurities" are transferable securities which are to be underwritten and distributed by a syndicate, at least two of the members of which have their registered offices in different states; are offered on a significant scale in one or more states other than that of the issuer's registered office; and may be subscribed for or initially acquired only through a bank or other financial institution.
In addition, the Directives grant a general exemption to "eurosecurities" that are: (1) underwritten and distributed by a syndicate at least two of the members of which have their registered offices in different states (multiple state underwriters); (2) offered on a significant scale in one or more states other than that of the issuer's registered office (distribution in state other than issuer's); and (3) subscribed for or initially acquired only through a credit institution or other financial institution (sold to banks).
A directive dealing with unlisted securities other than Eurosecurities, enacted in April 1989, provides for mutual recognition of prospectuses among the member states.