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4. (a) What is a Eurocurrency? What are LIBOR and LIBID rates? (b) What are the benefits of participating in the Eurocurrency market, for banks?

4. (a) What is a Eurocurrency? What are LIBOR" and "LIBID" rates? (b) What are the benefits of participating in the Eurocurrency market, for banks? for customers? (10 points)

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