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The Euro-dollar system : practice and theory of international interest rates /

By: Material type: TextTextPublication details: [London] : Macmillan , c[1973].Edition: 5th edDescription: xx, 224 p. :illISBN:
  • 0333149025
Subject(s): DDC classification:
  • 332.4'5 EIN
LOC classification:
  • HG3826 .E35 1973
Summary: The book outlined most of the far-reaching consequences of the Euro-dollar system at a time when many thought it to be a transitory phenomenon. It shows that the expansion of the Euro-dollar system could have only a trivial impact on the U.S. money supply, while others worried first that it could lead to a sizeable leakage of bank reserves from the United States and later, when U.S. banks became important borrowers of Euro-dollars, that it could lead to an explosive expansion of U.S. bank reserves. It also argued that Regulation Q restrictions on bank deposits in the United States were not a necessary condition for the expansion of the Euro-dollar system, at a time when many regarded them as a crucial part of the explanation for the growth of the Euro-dollar system.
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Holdings
Item type Current library Collection Call number Copy number Status Date due Barcode
Monograph & others Monograph & others CBN HQ Library General Stacks Non-fiction 332.4'5 EIN (Browse shelf(Opens below)) c.2 Available 31008100151105
Monograph & others Monograph & others CBN HQ Library General Stacks Non-fiction 332.4'5 EIN (Browse shelf(Opens below)) c.1 Available 31008100150875

Includes index

Bibliography: p. 217-219.

The book outlined most of the far-reaching consequences of the Euro-dollar system at a time when many thought it to be a transitory phenomenon. It shows that the expansion of the Euro-dollar system could have only a trivial impact on the U.S. money supply, while others worried first that it could lead to a sizeable leakage of bank reserves from the United States and later, when U.S. banks became important borrowers of Euro-dollars, that it could lead to an explosive expansion of U.S. bank reserves. It also argued that Regulation Q restrictions on bank
deposits in the United States were not a necessary condition for the expansion of the Euro-dollar system, at a time when many regarded them as a crucial part of the explanation for the growth of the Euro-dollar system.

usc 16/05/18

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