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Financial Terms | |
Eurobank |
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Definition of EurobankEurobankA bank that regularly accepts foreign currency denominated deposits and makes foreign currency loans.
Related Terms:ABM (automated banking machine)A bank machine, sometimes referred to as an automated teller machine (ATM). Agency bankA form of organization commonly used by foreign banks to enter the U.S. market. An agency Asian currency units (ACUs)Dollar deposits held in Singapore or other Asian centers. BAN (Bank anticipation notes)Notes issued by states and municipalities to obtain interim financing for BankMoney in a bank cheque account, the difference between receipts and payments. Bank collection floatThe time that elapses between when a check is deposited into a bank account and when the funds are available to the depositor, during which period the bank is collecting payment from the payer's bank. Bank discount basisA convention used for quoting bids and offers for treasury bills in terms of annualized ![]() Bank draftA draft addressed to a bank. bank draftA guaranteed form of payment which is issued in amounts over $5,000. Bank for International Settlements (BIS)An international bank headquartered in Basel, Switzerland, which Bank lineLine of credit granted by a bank to a customer. Bank overdraftMoney owed to the bank in a cheque account where payments exceed receipts. Bank reconciliationThe process of taking the balances from the bank statement and the general ledger and making adjustments so that they agree. Bank reconciliationA comparison between the cash position recorded on a company’s Bank wireA computer message system linking major banks. It is used not for effecting payments, but as a Banker's acceptanceA short-term credit investment created by a non-financial firm and guaranteed by a ![]() Bankers AcceptancesA bill of exchange, or draft, drawn by the borrower for payment on a specified date, and accepted by a chartered bank. Upon acceptance, the bill becomes, in effect, a postdated certified cheque. BankruptcyState of being unable to pay debts. Thus, the ownership of the firm's assets is transferred from bankruptcyThe reorganization or liquidation of a firm that cannot pay its debts. Bankruptcy cost viewThe argument that expected indirect and direct bankruptcy costs offset the other Bankruptcy riskThe risk that a firm will be unable to meet its debt obligations. Also referred to as default or insolvency risk. Bankruptcy viewThe argument that expected bankruptcy costs preclude firms from being financed entirely Blocked currencyA currency that is not freely convertible to other currencies due to exchange controls. Central BankA public agency responsible for regulating and controlling an economy's monetary and financial institutions. It is the sole money-issuing authority. Clearing House Interbank Payments System (CHIPS)An international wire transfer system for high-value Commercial BankA privately owned, profit-seeking firm that accepts deposits and makes loans. concentration bankingSystem whereby customers make payments to a regional collection center which transfers funds to Consortium banksA merchant banking subsidiary set up by several banks that may or may not be of the Controlled foreign corporation (CFC)A foreign corporation whose voting stock is more than 50% owned CurrencyMoney. Currency arbitrageTaking advantage of divergences in exchange rates in different money markets by Currency basketThe value of a portfolio of specific amounts of individual currencies, used as the basis for Currency futureA financial future contract for the delivery of a specified foreign currency. Currency optionAn option to buy or sell a foreign currency. Currency riskRelated: Exchange rate risk Currency risk sharingAn agreement by the parties to a transaction to share the currency risk associated with Currency selectionAsset allocation in which the investor chooses among investments denominated in Currency swapAn agreement to swap a series of specified payment obligations denominated in one currency Demand depositsChecking accounts that pay no interest and can be withdrawn upon demand. Devaluation A decrease in the spot price of the currency
Dual-currency issuesEurobonds that pay coupon interest in one currency but pay the principal in a different Eligible bankers' acceptancesIn the BA market, an acceptance may be referred to as eligible because it is Eurocurrency depositA short-term fixed rate time deposit denominated in a currency other than the local Eurocurrency marketThe money market for borrowing and lending currencies that are held in the form of European Currency Unit (ECU)An index of foreign exchange consisting of about 10 European currencies, Export-Import Bank (Ex-Im Bank)The U.S. federal government agency that extends trade credits to U.S. Farm Improvement and Marketing Cooperatives Loans ActSee here Federal Financing BankA federal institution that lends to a wide array of federal credit agencies funds it Federal Home Loan BanksThe institutions that regulate and lend to savings and loan associations. The Federal Reserve BanksThe twelve district banks in the Federal Reserve System. Foreign banking marketThat portion of domestic bank loans supplied to foreigners for use abroad. Foreign bondA bond issued on the domestic capital market of anther company. Foreign bond marketThat portion of the domestic bond market that represents issues floated by foreign Foreign Corrupt Practices Act (FCPA)a law passed by U.S. Congress in 1977 that makes it illegal for a U.S. company to engage in various “questionable” foreign payments and Foreign currencyforeign money. Foreign currency optionAn option that conveys the right to buy or sell a specified amount of foreign Foreign currency translationThe process of restating foreign currency accounts of subsidiaries into the Foreign direct investment (FDI)The acquisition abroad of physical assets such as plant and equipment, with Foreign equity marketThat portion of the domestic equity market that represents issues floated by foreign companies. Foreign exchangecurrency from another country. Foreign ExchangeThe currency of a foreign country. Foreign exchange controlsVarious forms of controls imposed by a government on the purchase/sale of Foreign exchange dealerA firm or individual that buys foreign exchange from one party and then sells it to Foreign Exchange MarketA worldwide market in which one country's currency is bought or sold in exchange for another country's currency. Foreign Exchange ReservesA fund containing the central bank's holdings of foreign currency or claims thereon. Foreign exchange riskThe risk that a long or short position in a foreign currency might have to be closed out Foreign exchange swapAn agreement to exchange stipulated amounts of one currency for another currency Foreign marketPart of a nation's internal market, representing the mechanisms for issuing and trading Foreign market betaA measure of foreign market risk that is derived from the capital asset pricing model. Foreign Sales Corporation (FSC)A special type of corporation created by the Tax Reform Act of 1984 that Foreign tax creditHome country credit against domestic income tax for foreign taxes paid on foreign Fractional Reserve BankingA banking system in which banks hold only a fraction of their outstanding deposits in cash or on deposit with the central bank. Hard currencyA freely convertible currency that is not expected to depreciate in value in the foreseeable future. International Bank for Reconstruction and Development - IBRD or World BankInternational bank for Reconstruction and Development makes loans at nearly conventional terms to countries for projects of high International Banking Facility (IBF)International banking Facility. A branch that an American bank Investment bankFinancial intermediaries who perform a variety of services, including aiding in the sale of Investment BankerMiddleman between a corporation issuing new securities and the public. The middleman buys the securities issue outright and then resells it to customers. Also called an underwriter. Legal bankruptcyA legal proceeding for liquidating or reorganizing a business. Loans payableAmounts that have been loaned to the company and that it still owes. Merchant bankA British term for a bank that specializes not in lending out its own funds, but in providing Merchant BankA financial institution that engages in investment banking functions, such as advising clients in mergers and acquisitions, underwriting securities and taking debt or equity positions. Money center banksbanks that raise most of their funds from the domestic and international money markets, relying less on depositors for funds. Multicurrency clauseSuch a clause on a Euro loan permits the borrower to switch from one currency to Multicurrency loansGive the borrower the possibility of drawing a loan in different currencies. Multifamily loansloans usually represented by conventional mortgages on multi-family rental apartments. PIBOR (Paris Interbank Offer Rate)The deposit rate on interbank transactions in the Eurocurrency market Prepackaged bankruptcyA bankruptcy in which a debtor and its creditors pre-negotiate a plan or Project loansUsually FHA-insured and HUD-guaranteed mortgages on multiple-family housing complexes, Reporting currencyThe currency in which the parent firm prepares its own financial statements; that is, U.S. Reserve currencyA foreign currency held by a central bank or monetary authority for the purposes of Reserve CurrencyA currency, frequently the U.S. dollar, that is used by other countries to denominate the assets they hold as international reserves. Savings depositsAccounts that pay interest, typically at below-market interest rates, that do not have a Society for Worldwide Interbank Financial Telecommunications (SWIFT)A dedicated computer network to support funds transfer messages internationally between over 900 member banks worldwide. Soft currencyA currency that is expected to drop in value relative to other currencies. Virtual currency optionA new option contract introduced by the PHLX in 1994 that is settled in US$ rather Wholesale mortgage bankingThe purchasing of loans originated by others, with the servicing rights World BankA multilateral development finance agency created by the 1944 Bretton Woods, New World BankThe International bank for Reconstruction and Development, an international organization that provides long-term loans to developing countries to improve their infrastructure. 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