's three-month Euribor values \u200b\u200bback to September.
The three-month Euribor was fixed to 5%, the lowest level last month (September 18), down - for the sixth consecutive session - from Friday's 5.045% and 5.393% top scored on 8 October, the Thursday before the European summit in which world leaders of state and government took the bull by the horns to the crisis. The Euribor (Euro Interbank Offered Rate) is calculated once a day by the Association of European banks. In return
also tensions on other dates: six-month Euribor was fixed at 5.063% (5.117%), that one month 4.685% (4.731%). The market rates on loans have fallen to a week for the first time in many days below 4 percent, reaching 3.974% from 4.015% Friday. The decline in interbank rates, ie those at which banks lend money, is obviously influenced by the certainty that the European Central Bank will ensure a long circulation of liquidity in a credit system is still strongly influenced by the shock chain triggered by the failure of Lehman Brothers on 15 September.
However there is a resistance - the Euribor for three months - not to go below the 5% limit to be broken according to the governor of the Bank of Italy, Mario Draghi, and though still far from Refi, the reference rate in the Eurozone, dall'Eurotower fixed at 3.75 percent. A sign that tensions are far from gone even though there are those who bet on further cutting the cost of borrowing from the ECB and Euribor on a downhill - with relative relief for those who have an adjustable rate mortgage - far more consistent in 2009. Of note
Finally, the sharp drop in London interbank rates for dollar. The Libor rate (London Interbank Offered Rate, calculated daily by the British Bankers' Association) on three-month loans fell to 4.0587 percent, almost half a point lower than the 4.4187 percent reported Friday. A strong attenuation that was expected: the Wall Street Journal notes that Friday's big three banks led by JP Morgan had announced the resumption of delivery of funds to European counterparts for billions of dollars.
Source: http://www.ilsole24ore.com
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