European Monetary Cooperation Fund
Summary of European Monetary Cooperation Fund
The successor to the European payments Union (read this and related legal terms for further details), the EMCF was established by the European Monetary Agreement of 1958 as a vehicle to enhance monetary cooperation among members of the European Communities. The agreement permitted borrowings from a European fund by members suffering balance of payment deficits. Credits were in gold for a period up to three years, with a possible extension of two more years. The fund was capitalized at U.S. $607.5 million (predicated upon an official rate of $35 per ounce of gold); of this sum, $271.6 million was derived from the defunct European Payments Union.
The European Monetary System is considered here.
(Main Author: William J. Miller)
Hierarchical Display of European Monetary Cooperation Fund
Finance > Monetary relations > European Monetary System
European Union > EU finance > EU financing > EU financial instrument > Fund (EU)
European Monetary Cooperation Fund
Concept of European Monetary Cooperation Fund
See the dictionary definition of European Monetary Cooperation Fund.
Characteristics of European Monetary Cooperation Fund
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Resources
Translation of European Monetary Cooperation Fund
- Spanish: Fondo Europeo de Cooperación Monetaria
- French: Fonds européen de coopération monétaire
- German: Europäischer Fonds für währungspolitische Zusammenarbeit
- Italian: Fondo europeo di cooperazione monetaria
- Portuguese: Fundo Europeu de Cooperação Monetária
- Polish: Europejski Fundusz Współpracy Walutowej
Thesaurus of European Monetary Cooperation Fund
Finance > Monetary relations > European Monetary System > European Monetary Cooperation Fund
European Union > EU finance > EU financing > EU financial instrument > Fund (EU) > European Monetary Cooperation Fund
See also
- EC Monetary Cooperation Fund
- EMCF
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