Euribor rates rise after ECB signalled wait-and-see stance
FRANKFURT, June 7 (Reuters) - Euribor bank-to-bank lending rates rose on Friday, a day after the European Central Bank left interest rates on hold and poured cold water on hopes of policy easing in the near future. ECB President Mario Draghi said economic conditions did not warrant moves such as making banks pay to park their money with it overnight by taking the deposit rate into negative territory or cutting its main rate from a record low of 0.5 percent. But these and other unconventional options, including very long-term loans to banks, measures to fire up the market for asset-backed securities (ABS) and tweaks to its collateral framework were "on the shelf", Draghi said. The three-month Euribor rate, traditionally the main gauge of unsecured bank-to-bank lending, rose to 0.203 percent from 0.200 percent. The six-month rate increased to 0.308 percent from 0.300 percent and the one-week rate ticked up to 0.089 percent from 0.088 percent. The overnight Eonia rate rose to 0.083 percent from 0.081 percent. Dollar-priced bank-to-bank Euribor lending rates were mixed, with three-month rates unchanged at 0.46222 percent and one-week rates falling to 0.27222 percent from 0.27333 percent. Excess liquidity in the euro zone banking sector was at 273 billion euros, helping keep market rates below the ECB's refinancing rate. Draghi said in February that he did not expect market rates to face upward pressure until excess liquidity in the banking sector fell below 200 billion euros. Euribor rates are fixed daily by the Banking Federation of the European Union (FBE) shortly after 0900 GMT. * For a table of the latest Euribor fixings for terms of one week to one year, double click on * For a table of the previous day's fixings of EONIA swap rates, which show market expectations for future overnight lending rates, double click on * For graphs of historic Euribor and EONIA swap rates, right click on the links in angle brackets below, and select 'Related Graph' 1 week 2 week 3 week 1 month 2 month 3 month 4 month 5 month 6 month 7 month 8 month 9 month 10 month 11 month 1 year (Reporting by Frankfurt newsroom)
- Three dead, two wounded in Pasadena, California shootings
- Israeli commandos clash with Hamas gunmen in Gaza raid |
- Teen survivor of Texas shootings says slain family members 'in much better place'
- Rape and murder of 13-year-old spark debate in junta-ruled Thailand
- Israeli commandos clash with Hamas gunmen in Gaza raid