euro commercial paper
(ECP) A debt security that has a maturity of less than one year from the date of issue (as defined in the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001). It is a promise by a borrower to repay (or pay) money to an investor.
+ United Kingdom
commercial paper issued to international investors in a currency that differs from the issuer's domestic currency. For example, a British bank wanting to issue commercial paper denominated in US dollars to investors in the Far East, may do so under an ECP programme.
The word “euro” in this context denotes the international (or non-domestic) features of this instrument rather than the single currency adopted by certain member states.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Look at other dictionaries:

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