eurodollar
YUR-oh-dol-ler
Definition
A U.S. dollar deposited in a bank located outside of the United States, often used for international lending and corporate finance.
Etymology
The term originated in the 1950s by combining 'euro-' (indicating European-based) and 'dollar' (the currency involved). It was coined to describe U.S. dollar accounts held in European banks, specifically those in the Soviet Union and other Eastern Bloc countries looking to hold dollars outside of the reach of the U.S. banking system.
In the news
The article mentions that RBC issued floating rate eurodollar bonds as part of its global medium-term note programme to raise capital internationally.
Did New AI Credit Win and Fresh Debt Issuance Just Shift Royal Bank of Canada's (TSX:RY) Investment Narrative?
Read the full article ↗Simply Wall Street