BarCap launches ‘new currency’ for financing

Barclays Capital has unveiled a synthetic currency intended to reduce funding costs for corporate clients, banks and hedge funds.

“We’re very excited to introduce a new currency to the market, especially one with a zero interest rate,” says Philippos Kassimatis, the bank’s London-based co-head of FX structuring.

The European Borrowing Unit (EBU) is convertible only into euros. It is aimed at European clients that may already be trying to rein in funding costs by borrowing in low-yielding

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

Stemming the tide of rising FX settlement risk

As the trading of emerging markets currencies gathers pace and broader uncertainty sweeps across financial markets, CLS is exploring alternative services designed to mitigate settlement risk for the FX market

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here