The emergence of the Eurocurrency market is linked to what event:

Question

Quizplus · Accepted Answer

The emergence of the Eurocurrency market is linked to the OPEC oil crisis in the 1970s. This crisis led to the increase in demand for petrodollars, which were then deposited in European banks. These deposits could not be used by the banks for domestic lending due to regulatory constraints, resulting in the emergence of the Eurocurrency market where these deposits could be lent out to borrowers outside the US.

The Emergence of the Eurocurrency Market Is Linked to What