ABN Amro has created a global clearing product that consolidates both U.S. dollar and euro-denominated balances in a single account. Dubbed "euroSmart," the product is housed in the Dutch bank's North American clearing center in New York.

EuroSmart is designed to enable executives with large cross-border transactions to streamline their clearing and reconciliation procedures. During the three-year phase-in of the new European currency, payments may also be made in the 11 legacy currencies.

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