Include primarily very short-term securities issued on the Euromarket, which are continually rolled over but with a safety net in the form of a backstop (a standby eurocredit) if the issue is not taken up. Four generations have been identified up to now- 1)revolving underwriting facility (RUF); 2) tender panel issues, such as note issuance facilities (NIF), purchase underwriting facilities (PUF), etc.; 3) multioption facilities (MOF) or multicomponent facilities; 4) euronotes and eurocommercial paper.