Today's LIBOR Rates
1 M |
0.25781 |
 |
3 M |
0.29281 |
|
6 M |
0.49363 |
|
1 YR |
0.83488 |
|
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3-Month LIBOR Sets New Records |
September 23, 2009
Reuters reports that the key 3-Month LIBOR index has hit new lows in the U.S. Dollar, the British Pound Sterling and the Euro. This is the latest mark in what has been a record-setting descent for LIBOR, which stands for London Interbank Offered Rate, a filtered average of rates that banks charge each other for unsecured, short-term loans.
At press time:
• 3-Month Euro LIBOR: 0.70938
• 3-Month Sterling LIBOR: 0.5662
• 3-Month US Dollar LIBOR: 0.28563
All rates were the lowest for their respective currencies since the British Bankers’ Association (BBA) began publishing LIBOR in 1986 (note: the Euro became an official accounting currency in 1999.) With these LIBOR declines, the LIBOR-OIS Spread in U.S. Dollars slipped another basis point to 11 basis points. The LIBOR-OIS Spread is a specialized barometer of banks’ willingness to lend with a smaller spread denoting more willingness.