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Foreign Corporation Bonds
Source:
Encyclopedia of Banking & Finance (9h Edition) by Charles J Woelfel
(We recommend this as work of authority and you can order
it here)
Bonds of business corporations
of foreign countries. Various
securities dealers in New York City specialize in these issues, maintaining
or quoting markets for them in U.S. funds.
As the result of post-World War II economic revival in various
countries and easing of foreign exchange restrictions, a markedly increased
interest in such issues has developed, with advances in market levels.
Foreign corporate dollar bonds have been included in debt adjustment
plans of various countries effected with U.S. bondholders, including high
cash settlements in various cases, thus reestablishing credit standing
in conjunction with economic revival and contributing to the increased
interest in such extended issues as well as internal corporate bonds.
Flow of funds data
of the Board of Governors of the Federal Reserve System indicate that
net domestic purchases of foreign bonds were (in billions of dollars)
4.0 in 1978, 3.7 in 1979, 1.2 in 1980, 5.5 in 1981, 6.6 in 1982, 3.1 in
1983, 3.8 in 1984, 3.8 in 1985, 2.6 in 1986, and 6.3 in 1987.
BIBLIOGRAPHY
BOARD OF GOVERNORS
OF THE FEDERAL RESERVE SYSTEM. Flow
of Funds Accounts, Annual
Revisions.
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