European Monetary Cooperation Fund

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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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Translation of European Monetary Cooperation Fund

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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