Eurocurrency deposit
A short-term fixed rate time deposit denominated in a currency other than the local
currency (i.e. US$ deposited in a London bank).
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The average interest rate which major London banks borrow Eurocurrency deposits from other banks. LIBID is calculated through a survey of London banks to determine the interest rate which they are willing to borrow large eurocurrency deposits.
With the exception of very small institutions, all banks, thrifts, and credit unions are required to maintain reserve balances equal to 3% of nonpersonal time deposits and Eurocurrency deposits-and 12% on any balances above that.
The London Interbank Bid Rate (LIBID) is the rate bid by banks on Eurocurrency deposits (i.e. the rate at which a bank is willing to borrow from other banks)
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Eurocurrency future Any of several available cash-settled futures on a 3-month Eurocurrency deposit.
Eurodollar A US dollar deposited with a bank branch outside the United States.
The use of the prefix "euro" is somewhat misleading. It is used for historical reasons. Eurocurrency deposits may be of any currency in any country.
Instrument issued outside your country, but denominated in your currency. A Eurodollar is a Certificate of Deposit in US dollars in some other country (though mainly traded in London). A Euroyen is a CD in yen outside Japan.
Eurocurrency deposit ...
 See also: Eurocurrency, Banks, Eurocurrency market, Time deposit, Eurobond
  
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