The-definition.com

Definition

Euro-Commercial paper (ECP)

Euro-Commercial paper (ECP), like commercial paper issued in domestic markets around the world, is a short-term debt obligation of a corporation or bank. Maturities are typically one, three, and six month. The paper is sold normally at a discount or occasionally with a stated coupon. Although the market is capable of supporting issues in any major currency, over 90% issues outstanding are denominated in U.S. dollars.

Share it:  Cite

More from this Section