The facilities offered in the eurocurrency markets are not dissimilar to those offered in many domestic markets. This applies particularly to the United States domestic market, as many of the instruments and market practices are based on those in the United States. Apart from short-term credit (which is not part of this study), lending takes the form of medium-term (two- to twelve-year) credits extended on either a fixed rate basis or on what is known as a ‘floating rate’ basis, and either stand-by or term loan. Stand-by facilities can be of two types:1
KeywordsInterest Rate Swiss Franc Interbank Market Term Loan Commercial Paper
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