…While Barclays comes up with Ebu
As if just to prove that it too can come up with new products with a silly name, Barclays launched the Ebu this week. I spent hours – okay, seconds – searching the internet to see what an Ebu was, and in reality it’s nothing more than an abbreviation for European Borrowing Unit.
Barclays says that this is the first synthetic currency with a zero interest rate, which makes it attractive, “for multiple funding uses for a range of clients, particularly those considering a reduction in cost of funding through controlled FX exposure.”
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