A shift in London's eurodollar market
AbstractLondon's interbank market went through a sectoral shift in recent years. The rate at which banks channel funds back into the interbank market declined sharply following the introduction of the euro and the subsequent contraction in foreign exchange trading. Surplus dollars from the banking sector have been used to finance non-bank borrowers, primarily in the United States, and may reflect the greater role of the London market in financing securities trading in New York.
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Bibliographic InfoArticle provided by Bank for International Settlements in its journal BIS Quarterly Review.
Volume (Year): (2004)
Issue (Month): (September)
Find related papers by JEL classification:
- G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- McKinnon, Ronald I., 1979. "Money in International Exchange: The Convertible Currency System," OUP Catalogue, Oxford University Press, number 9780195024098.
- Philip R. Lane & Gian Maria Milesi-Ferretti, 2009.
"Where did all the borrowing go? A forensic analysis of the U.S. external position,"
in: Financial Globalization, 20th Anniversary Conference, NBER-TCER-CEPR
National Bureau of Economic Research, Inc.
- Lane, Philip R. & Milesi-Ferretti, Gian Maria, 2009. "Where did all the borrowing go? A forensic analysis of the U.S. external position," Journal of the Japanese and International Economies, Elsevier, vol. 23(2), pages 177-199, June.
- Gian-Maria Milesi-Ferretti & Philip R. Lane, 2008. "Where Did All the Borrowing Go? a Forensic Analysis of the U.S. External Position," IMF Working Papers 08/28, International Monetary Fund.
- Lane, Philip R. & Milesi-Ferretti, Gian Maria, 2008. "Where Did All The Borrowing Go? A Forensic Analysis of the U.S. External Position," CEPR Discussion Papers 6655, C.E.P.R. Discussion Papers.
- Philip R. Lane and Gian Maria Milesi-Ferretti, 2008. "Where Did All The Borrowing Go? A Forensic Analysis of the U.S. External Position," The Institute for International Integration Studies Discussion Paper Series iiisdp239, IIIS.
- Patrick McGuire & Nikola Tarashev, 2006. "Tracking international bank flows," BIS Quarterly Review, Bank for International Settlements, December.
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