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Eurodollars are deposits denominated in United States dollars at banks outside the United States, and thus are not under the jurisdiction of the Federal Reserve. Consequently, such deposits are subject to much less regulation than similar deposits within the United States, allowing for higher margins.
The first transaction involving such deposits was initiated by a bank owned by the Soviet Union, which sometimes used the telex address "Eurbank". Initially dubbed "Eurbank dollars", they eventually became known as "eurodollars".[1] The latter name became widespread because such deposits were held mostly by European banks and financial institutions. Such deposits are now available in many countries worldwide, but they continue to be referred to as "eurodollars" regardless of the location
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LIBOR rates are widely used as a reference rate for financial instruments such as:
* forward rate agreements
* short term interest rate futures contracts
* interest rate swaps
* floating rate notes
* syndicated loans
* variable rate mortgages
* currencies, especially the US dollar (see also Eurodollar).
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If we’re supposed to be scared of the foreigners who are buying up our debt, I guess we’d better stop looking across the Pacific for the culprits, and start keeping an eye on the Brits—because in the six months through March ’06, they increased their holdings almost six times as much as the Chinese did ($84B vs $15B). Not only that, but the Canadians were right behind the Chinese ($12B vs $15B).
In that environment, it’s tough to figure out who we’re supposed to be scared of, isn’t it?
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The Queen, accompanied by The Duke of Edinburgh, formally opened the new London Stock Exchange building by switching on ‘The Source’. On their tour of the building The Queen and The Duke of Edinburgh met with London Stock Exchange staff and customers as well as users of the Media and Business Complex
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The Isle of Man is situated in the heart of the British Isles. The country is an internally self-governing dependent territory of the British Crown. It is not part of the United Kingdom but is a member of the British Commonwealth.
Their logo.
The parliment of the Isle - Tynwald
www.gov.im
The head of state is Queen Elizabeth II, who holds the title of Lord of Mann. The Crown is represented by a Lieutenant Governor. The island is not part of the United Kingdom, but external relations, defence, and ultimate good-governance of the Isle of Man are the responsibility of the government of the UK.
Wikipedia
The Isle of Man has been recognised as ‘the leading offshore centre’ in The City of London’s second Global Financial Centres Index
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