(CEP News) - U.S. interbank lending rates are once again lower on Friday after CNBC reported that the U.S. government would unveil the results of the stress testing of financial institutions in May.

According to the British Bankers’ Association on Friday, the overnight U.S. dollar Libor lost 1.50 bps to 0.24%, while the three-month Libor was down 0.50 bps to 1.10%.

According to a report from CNBC on Thursday, the results of the U.S. stress tests on the largest financial institution in the United States will be released on May 4, and the government will release advance guide clarifying the test assumptions on April 24.

A spokesperson from the Obama Administration on Friday said the government wanted to release the results in a way which would allow the public to compare results among the banks.

The Libor/OIS spread, a key measure of credit tightness in the U.S., narrowed 1 bp to 90 bps.

Elsewhere, overnight the Canadian dollar Libor rose 1.83 bps to 0.45%, while the three-month Libor was unchanged 1.00%. The Euro Libor advanced 3.50 bps to 0.86%, while the three-month Libor fell 0.44 bps to 1.41%. The Sterling Libor was flat at 0.60%, while the three-month Libor declined 0.63 bps to 1.52%.

By Erik Kevin Franco, efranco@economicnews.ca; edited by Nick Say, nsay@economicnews.ca

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

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