A Currency Is Born
Finextra Blog has a post on Barclay’s European Borrowing Unit, a new kind of currency that has been created to shield users from currency swings. Based on a portfolio of 10 major currencies, EBU is aimed principally at corporate and institutional borrowers who want an alternative to low-yielding currencies. While the details of this currency and how it works is stuff that only hard core bankers can understand, what caught our eye was the innovation that help even out loses in an age when volatility has become the order of the day. A little more on the EBU on Finextra.