Central Bank of Nigeria Library

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

By: Material type: TextTextPublication details: London: Macmillan, c1970.Edition: 4th edDescription: xviii, 208 pISBN:
  • 0333053354
  • 333127935 (hbk)
Subject(s): DDC classification:
  • 332.4'5 EIN
LOC classification:
  • HG3826 .E35 1970
Summary: The book examines the early stages of the development of the Euro-dollar system. He outlined most of the far-reaching consequences of the Euro-dollar system at a time when many thought it to be a transitory phenomenon. He showed 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. He 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 Status Date due Barcode
Monograph & others Monograph & others CBN HQ Library General Stacks Non-fiction 332.4'5 EIN (Browse shelf(Opens below)) Available 31008100151659

Includes index

Bibliography: p. 204-205.

The book examines the early stages of the development of the Euro-dollar system. He outlined most of the far-reaching consequences of the Euro-dollar system at a time when many thought it to be a transitory phenomenon. He showed 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. He 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 7/6/18

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