  We show that very large paramagnetic moments are created in ultrathin Pd
layers through indirect interlayer exchange coupling. Pd $L$-edge x-ray
magnetic circular dichroism measurements show Pd moments in
[Pd(2.5nm)/Cu(3nm)/Ni$_{81}$Fe$_{19}$(5nm)/Cu(3nm)]$_{20}$ superlattices which
are ferromagnetically aligned with the applied field and nearly 3% the size of
Pd moments created in directly exchange coupled
[Pd(2.5nm)/Ni$_{81}$Fe$_{19}$(5nm)]$_{20}$ superlattices. The induced moment is
two orders of magnitude larger than that expected from RKKY exchange acting on
the bulk paramagnetic susceptibility of Pd.
