TERMENI importanti pentru acest document
the currency used by the EU countries, so, the market the Euro is used for, can
be named Euro market. It has in view all the transactions done by the banks in
Euro currencies, Euro-notes, Euro commercial papers, Euro bonds. It is a market
that has developed itself in
Currency is borrowed and lent by institutions located in different countries, there is a capital flow which seems to be uncontrolled. Theoretically, it cannot be a national control over this market. From the practical point of view, the market forces dictate the lending rates; the rates do not diverge from the domestic lending ones, it happens only for short interval of time. The international banks are the main operators; financial institutions are also allowed to enter the market.
dollar market is complemented by Eurobond and makes longer term funds
available. The bonds are payable to bearer without deduction of tax. They are
issued by bank consortia and are placed with investors (national industries,
governments, multinational corporations, municipal authorities).
Euro-notes are notes issued in bearer form and negotiable. A note issuance facility is a credit facility, the company obtains a loan underwritten by banks which issue series of short term Eurocurrency notes used for replacing the already expired ones. Euro notes are short term notes issued in US dollars.
Commercial papers relate to short term promissory notes issued by companies; they are purchased by investors. They are issued at a discount to the face value they have. The corporations can borrow more cheaply than via bank loans; the investors may earn a higher return on their funds than it is available on bank deposits. A bank usually undertakes the issuing of these papers either directly or through dealers.
Answer the following questions
What is the Euro market?
What happens to the currency?
Which complements the Euro dollar market?
What do you know about Eurobond?
What about the supranational markets?
What are Euronotes?
What is a commercial paper?
Bond (obligatiune; document emis de debitor unui creditor)
Ceiling (cantitatea cea mai mare de bani pe care o poate depune un client)
Deficit financing (crearea unui deficit bugetar guvernamental)
Direct investment (investitii in operatiile straine ale unei companii )
Eurobond (euro obligatiune )
(valuta depozitata intr-o tara europeana,
Eurodollar (dolari depozitati in institutii financiare in afara SUA)
Eurocredit (imprumut intr-o euro-valuta)
Money supply (masa monetara emisa de autoritatile monetare ale unei tari)
Treasury bill (bon de tezaur; cambia)
Underwriting (a garanta o emisie de obligatiuni, actiune realizata de catre o banca)
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