Word: eurobank
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Dates: during 1966-1966
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...Eurodollar ten years ago, and probably gave it its name. Soviet-controlled banks in Western Europe began accumulating dollar balances and, fearing that they might be frozen if deposited in the U.S., loaned them to other European banks. The cable address of the Soviet-backed bank in Paris was "Eurobank," and so financiers began asking for "Eurobank dollars" and finally just "Eurodollars...
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