Finally, in Table 5.3, Eurobank B makes a loan to BMW in Munich.
Now the U.S. bank has transferred the ownership of its deposit liability to
BMW. (Whenever dollars are actually spent following a Eurodollar
transaction, the actual dollars must come from the United States—only
the United States creates U.S. dollars; the Eurodollar banks simply act as
intermediaries.) The gross size of the market is measured as total deposits
in Eurobanks, or $2 million ($1 million in Eurobank A and $1 millionin Eurobank B).