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Overnight USD Libor is down sharply again on Friday, this time by 24 bps to 0.28%, marking an epic seven-day decline over which the rate has dropped 112 bps. The move comes one day after the Bank of England slashed another 100 bps to its benchmark interest rate to an all-time low of 2.00% and the European...
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Overnight lending rates are the story in the interbank lending market with the Libor rates falling back below the Fed's 1.00% target rates. The news comes as the Treasury Department continues to mull whether or not to tap the second tranche of the $700 billion TARP, despite criticism from Capitol...
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In the largest rise on record, the British Bankers Association reported that the overnight U.S. dollar inter-bank lending rate (LIBOR) jumped 431 basis points to 6.88% . Last week, the overnight LIBOR was 2.95%, suggesting a further sharp tightening of credit conditions in the United States. The news...