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Describe the type of securities known as an nif and an ecp

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Reference no: EM133290984

Question: The euronote market is a generic term that incorporates both note issuance facilities (NIF) and eurocommercial paper (ECP).

- Describe the type of securities known as an NIF and an ECP.

- Describe the similarities and differences between the two.

- An Australian bank is to issue ECP into the London euronote market. The 90-day ECP issue has a face value of USD100 million and a yield of 6.75 per cent per annum. Calculate the amount raised on issue by this bank.

Reference no: EM133290984

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