and nations, estimated to be financing over 90% of international trade deals. It is the most widely used eurocurrency. Accounting for approximately 75% of all eurocurrency accounts held worldwide. This prevalence is often attributed to economic and political factors. Firstly, the economic power of the US, particularly its influential position in the world economy and steady deterioration of the other currencies during the inception of Eurocurrency in the 1950s. Secondly, the lack of interest caps and limited regulation in the Eurodollar market enables favourable rates of interest for both lenders and borrowers. Euroyen Market The Euroyen market involves deposits of yen in banks outside the jurisdiction of the Japanese Central Bank. The market emerged in 1984, at the beginning of the Japanese asset price bubble that saw Japan pursue financial liberalisation and internalisation. During the 1990s, interest rates in Japan experienced substantial declines, making the relatively high rates of interest paid by Euroyen accounts attractive investments. Today Euruyen deposits are used by non-Japanese companies to efficiently obtain investments from Japanese investors. Euroyen bonds allow foreign companies to avoid the regulations enforced by the Bank of Japan (BoJ) and in bond registration with the Tokyo Stock Exchange (TSE). Euroeuro Market The Euroeuro market involves deposits of euros outside of the jurisdiction of the European Central Bank. Europound Market The Europound market involves sterling deposits outside of the jurisdiction of the Bank of England. Eurocurrency Network The concept of eurocurrency can have two implications. Firstly, it can be the accumulation of all the currencies and banking facilities worldwide that are participating of the offshore banking network. This is not limited to the four eurocurrencies (US dollar, euro, yen, sterling) or the home markets of those eurocurrencies. For example, a bank in Denmark that chooses to keep holdings of Swiss franc in London would also be considered a part of the eurocurrency network. Secondly, it can refer to the sum of all the technologies i.e. data processing and communication lines, used to enable stakeholders around the world to interact and participate in the eurocurrency market. Eurocurrency marks function within the global financial system with market centres spread across the global. Therefore, powerful financial technologies and information systems are required to connect market centres to enable communications and transactions to occur. For example, technologies such as high-speed communication lines link market centres enabling fast eurobanking transactions, and also giving rise to the overnight market.