European Monetary Cooperation Fund
- = EMCOFA fund organized by the European Monetary System in which members of the European Union deposited reserves to provide a pool of resources to stabilize exchange rates and to finance balance of payments support. In return for depositing 20% of their gold and gross dollar reserves, member states were given access to a wide variety of credit facilities, denominated in ECU, from the fund. It ceased operations with the introduction of the euro in 1999.
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European Monetary Cooperation Fund — (EMCF) Established in 1973 as part of the Snake, and absorbed in 1979 into the European Monetary System (EMS) where it is the reserve fund that supports the European Currency Unit (ECU). It consists of 20% of the gold and dollar reserves of the … Glossary of the European Union and European Communities
European Monetary System — (EMS) a European monetary unit, an exchange rate intervention mechanism and a transfer mechanism established in 1978 under the law of the European Communities. It is this system that established the European Currency Unit (ECU), a currency used… … Law dictionary
European Monetary System — There are three stages of monetary cooperation in the European Union. Stage I European Monetary System (EMS) was an arrangement established in 1979 under the Jenkins European Commission where most nations of the European Economic Community (EEC)… … Wikipedia
European Monetary System — EMS A system of exchange rate stabilization involving the countries of the European Union, which began operations in 1979. There were two elements: the Exchange Rate Mechanism (ERM), under which participating countries committed themselves to… … Accounting dictionary
European Monetary System — EMS A system of exchange rate stabilization involving the countries of the European Union, which began operations in 1979. There were two elements: the Exchange Rate Mechanism (ERM), under which participating countries committed themselves to… … Big dictionary of business and management
European Monetary System — ( EMS) A system adopted by European Community members with the aim of promoting stability by limiting exchange rate fluctuations. The system was originated in 1979 by the nine members of the European Community ( EC). The EMS comprised three… … Financial and business terms
European Currency Unit — (ECU) Introduced in 1979 as a central element of the European Monetary system (EMS) to support the Exchange Rate Mechanism (ERM). Based upon a weighted basket of currencies and supported by the European Monetary Cooperation Fund (EMCF), under… … Glossary of the European Union and European Communities
European System of Central Banks — European Union This article is part of the series: Politics and government of the European Union … Wikipedia
European Commissioner for Economic and Monetary Affairs and the Euro — Incumbent Olli Rehn since 9 February 2010 … Wikipedia
European Central Bank — European Central Bank … Wikipedia