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 currenci

To continue reading...

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 indvidual account here: