« The Greenback Pushes Up Ahead of GDP
Heinz to lift forecasts, unveil two-year plan: Journal »

Major banks contribute to erratic Libor: Wall Street Journal

LONDON (MarketWatch) — Citigroup , WestLB, HBOS JP Morgan Chase & Co. , and UBS , have reported significantly lower borrowing costs for the London interbank offered rate, or Libor, than what another market measure suggests they should be, The Wall Street Journal reported Thursday. That’s led to Libor acting as if the banking system was in better shape than it actually was at important points in the financial crisis, the report said. Since January, Libor has diverged from the default-insurance market, another window into banks’ financial health, the newspaper said. Analysts offer numerous reasons some banks might report lower Libor rates than the market indicates, the report said.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Original post by Forextvblog

This entry was posted on Thursday, May 29th, 2008 at 4:54 am and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “Major banks contribute to erratic Libor: Wall Street Journal”

  1. libor rates wall street journal Says:
    September 16th, 2008 at 5:19 pm

    […] […]

Leave a Reply