U.S. Interbank Lending Rates a Touch Higher In Absence of New for U.S. Banking

(CEP News) - U.S. interbank lending rates are slightly higher on Friday in the absence of any major economic news for the U.S banking sector.

According to the British Bankers’ Association on Friday, the U.S. dollar Libor had picked up 0.25 bps to 0.32%, and the three-month Libor was up 0.88 bps to 1.29%.

The Ted Spread narrowed 1 bp to 109 bps and the Libor/OIS spread shed 1 bps at 103 bps. Both are key measures of credit tightness in the U.S.

Elsewhere, the Canadian dollar Libor fell 3.33 bps to 0.43%, while the three-month Libor was unchanged at 1.20%. The Euro Libor contracted 0.69 bps to 1.19%, while the three-month Libor declined 2.25 bps to 1.73%. The Sterling Libor was down 17.50 bps to 0.66%, while the three-month Libor pulled back 3.94 bps to 1.95%.

By Erik Kevin Franco, efranco@economicnews.ca

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Posted in Categories: Canada, Economy, Eurozone, Releases, UK, USA.