European currency unit definition

European currency unit means the currency basket periodically used as the unit of account of the European Community, as defined by Regulation No. 3320/94 of the Council of the European Union and as referred to in Article 109g of the treaty establishing the European Community, as amended by the Treaty on European Union. The term is abbreviated as ECU.
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European currency unit or "ECU" means the currency basket
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European currency unit or "ECU" means the currency basket that is from time to time used as the unit of account of the European community as referred to in Article 109g of the Treaty on European Union and as defined in Regulation (EC) No.3320/94.
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Examples of European currency unit in a sentence

  • The term ‘‘nonfunctional currency’’ means with respect to a taxpayer or a qualified business unit (as defined in section 989 (a)) a currency (including the European Currency Unit) other than the tax- payer’s or the qualified business unit’s functional currency as defined in sec- tion 985 and the regulations there- under.

  • The portfolio will be comprised primarily of investment grade securities denominated in various currencies, including the European Currency Unit.

  • We calculated the AMU according to the approach employed for calculating the European Currency Unit (ECU) under the EMS before the introduction of the euro in 1999.

  • The member currencies were fixed against each other within a narrow band of fluctuation based on a central European Currency Unit (ECU) rate14.

  • Monetary amounts may be in U.S. dollars in a foreign currency or in a composite currency, including but not limited to the European Currency Unit.

  • The term legacy currency shall also include the European Currency Unit.

  • NOTES TO FINANCIAL STATEMENTS (Continued) Net Unrealized Value at Foreign Settlement Currency Currency Contract September 30, Exchange Date Amount Bought Amount 2005 Gain/(Loss) ------------ -------------- --------------------------------- ------------- -------------- ------------- Low Duration Bond 10/20/05 991,153 European Currency Unit ..........

  • During 1998, the ERM was a cooperative arrangement in which currency values were managed around a control rate called the European Currency Unit (ECU), a basket of currencies weighted by each members proportion of intra European trade and gross national product.The limited flexibility exchange rate system attempts to combine the best of the fixed (pegged) period and floating rate (more flexible) systems.

  • The term‘‘nonfunctional currency’’ means with respect to a taxpayer or a qualified business unit (as defined in section 989 (a)) a currency (including the European Currency Unit) other than the tax- payer’s or the qualified business unit’s functional currency as defined in sec- tion 985 and the regulations there- under.

  • In addition, there are no limits on the use of issues of Canadian, British, Japanese, Australian, or European monetary systems, bloc governments and their agencies, and supranational borrowers in local currency or European Currency Unit.


More Definitions of European currency unit

European currency unit or "ECU" means the lawful currency of the European Community;
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European currency unit and the term "ECU," mean a unit of account or lawful money of the European Communities."
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European currency unit means the currency basket that is used as the unit of account of the European community pursuant to the European council's regulations.
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Related to European currency unit

  • National Currency Unit means the unit of the currency of a country as those units are defined on the day before the start of the third stage of European Economic and Monetary Union pursuant to the Treaty or, in connection with the expansion of such third stage, to any country which has not initially participated in such third stage; and

  • Composite Currency Unit means the Euro or any other composite currency unit consisting of the aggregate of specified amounts of specified currencies, as such unit may be constituted from time to time.

  • Currency means any currency or currencies, composite currency or currency unit or currency units, including, without limitation, the Euro, issued by the government of one or more countries or by any recognized confederation or association of such governments.

  • Dollar Equivalent of the Currency Unit shall be determined by the Exchange Rate Agent and subject to the provisions of paragraph (h) below shall be the sum of each amount obtained by converting the Specified Amount of each Component Currency into Dollars at the Market Exchange Rate for such Component Currency on the Valuation Date with respect to each payment.

  • Foreign Currency means any currency other than the currency of Kenya;

  • Index Currency means USD.

  • Denomination Currency has the meaning specified in Section 14(b).

  • National Currency means the currency, other than the Euro, of a Participating Member State.

  • Agreed Foreign Currency means, at any time, any of English Pounds Sterling, euro and, with the agreement of each Lender, any other Foreign Currency, so long as, in respect of any such specified Currency or other Foreign Currency, at such time (a) such Currency is dealt with in the London interbank deposit market, (b) such Currency is freely transferable and convertible into Dollars in the London foreign exchange market and (c) no central bank or other governmental authorization in the country of issue of such Currency (including, in the case of the euro, any authorization by the European Central Bank) is required to permit use of such Currency by any Lender for making any Loan hereunder and/or to permit the Borrower to borrow and repay the principal thereof and to pay the interest thereon, unless such authorization has been obtained and is in full force and effect.

  • European Community means the territory comprised by the Member States of the European Community as constituted from time to time;

  • First Currency has the meaning specified in Section 1.15.

  • European Communities means the European Economic Community, the European Coal and Steel Community and the European Atomic Energy Community.

  • LIBOR Currency means the currency specified on the face hereof as to which LIBOR shall be calculated or, if no currency is specified on the face hereof, United States dollars. “LIBOR Page”

  • Class Currency means the currency in which a Share Class of a Fund is designated as determined by the Directors and disclosed in the Prospectus in relation to such Fund.

  • European Commission means the authority within the European Union that has the legal authority to grant Regulatory Approvals in the European Union based on input received from the EMA or other competent Regulatory Authorities.

  • Fiat Currency means currency issued by the relevant body in a country or by a government that is designated as legal tender in its country of issuance through amongst other things, government decree, regulation, or law;

  • Termination Currency means United States Dollars.

  • Quote Currency means the second currency in the Currency Pair which can be bought or sold by the Client for the Base Currency.

  • European Union means the member nations of the European Union established by the Treaty of European Union, signed at Maastricht on February 2, 1992, which amended the Treaty of Rome establishing the European Community.

  • Issue Currency or "SEK" means Swedish Krona. "Launch Date" means 12 January 2022.

  • Reference Currency means the currency specified as such in the applicable Final Terms.

  • Base Currency means the first currency in the Currency Pair against which the Client buys or sells the Quote Currency.

  • Eligible Currency means any currency other than Dollars (i) that is readily available, (ii) that is freely traded, (iii) in which deposits are customarily offered to banks in the London interbank market, (iv) that is convertible into Dollars in the international interbank market and (v) as to which a Dollar Equivalent Amount may be readily calculated. If, after the designation by the Revolving Credit Lenders of any currency as an Agreed Currency, (x) currency control or other exchange regulations are imposed in the country in which such currency is issued with the result that different types of such currency are introduced, (y) such currency is, in the reasonable determination of the Administrative Agent, no longer readily available or freely traded or (z) in the reasonable determination of the Administrative Agent, a Dollar Equivalent Amount of such currency is not readily calculable, the Administrative Agent shall promptly notify the Lenders and the Company, and such currency shall no longer be an Agreed Currency until such time as all of the Revolving Credit Lenders agree to reinstate such currency as an Agreed Currency and promptly, but in any event within five Business Days of receipt of such notice from the Administrative Agent, the Borrower shall repay all Loans in such affected currency or convert such Loans into Loans in Dollars or another Agreed Currency, subject to the other terms set forth in Article II.

  • Designated Foreign Currency means Euros, Canadian Dollars, British pounds, Australian dollars or any other currency (other than Dollars) approved in writing by the Lenders and that is freely traded and exchangeable into Dollars.

  • Obligation Currency shall have the meaning assigned to such term in Section 11.18(a).

  • Applicable Currency means, as to any particular payment or Loan, Dollars or the Offshore Currency in which it is denominated or is payable.