Eurodollars
Eurodollars are dollar-denominated deposits at foreign banks or foreign branches of
American banks. By locating outside the United States, these banks escape regulation by
the Federal Reserve Board. Despite the tag “Euro,” these accounts need not be in European
banks, although that is where the practice of accepting dollar-denominated deposits outside
the United States began.
Most Eurodollar deposits are for large sums, and most are time deposits of less than six
months’ maturity. A Eurodollar certificate of deposit resembles a domestic bank CD except
that it is the liability of a non-U.S. branch of a bank, typically a London branch. Firms also
issue Eurodollar bonds, that is, dollar-denominated bonds outside the United States, although
such bonds are not considered part of the money market by virtue of their long maturities.

概括

欧洲美元是指存放在外国银行或美国银行海外分支机构的美元存款。这些银行因位于美国境外，不受美联储监管。尽管名称中有”欧洲”二字，但这些账户并不限于欧洲银行，尽管最初接受境外美元存款的做法确实始于欧洲。

多数欧洲美元存款金额较大，且多为期限不足六个月的定期存款。欧洲美元存单与国内银行存单类似，但其发行方为银行的非美国分支机构（通常是伦敦分行）。企业也会发行欧洲美元债券（即美国境外的美元计价债券），但由于其期限较长，这类债券不被视为货币市场的一部分。