BLBG:Libor for 3-Month Dollars Climbs to Highest Since August 2010
The rate at which London-based banks say they can borrow for three months in dollars climbed to the highest level in more than a year, rising for the 30th consecutive day.
The London interbank offered rate, or Libor, for dollar loans advanced to 0.33561 percent from 0.33278 percent yesterday, according to the British Bankers’ Association. That’s the highest level since Aug. 19, 2010, and the longest stretch of gains since November 2005.
The dollar Libor-OIS spread, a gauge of banks’ reluctance to lend, was at 25.26 basis points as of 12:04 p.m. in London, from 24.78 basis points yesterday. That’s the most since Aug. 3, 2010, according to data compiled by Bloomberg.
To contact the reporter on this story: Keith Jenkins in London at kjenkins3@bloomberg.net
To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net
