Euro-Commercial PaperEuro-Commercial Paper is defined as a short term loan that is issued in the international money market. The short-term loans are issued by corporations or banks and are in a currency that differs from that banks or corporations domestically used currency. The maturities of the paper range up to 360 days. The word "Euro" denotes that the debt is held outside the issuers natural borders. For example, Eurodollars are simply dollars held in foreign banks.

Euro commercial paper is commercial paper issued in a foreign currency.  It is an unsecured, short term loan that is issued by a foreign bank in a foreign currency.  An example of this can be demonstrated whereas the Canadian corporation issues a short term bond with denominations in euros to finance its assets and inventory through the international money market.