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US bank 3-mo funding rates rise to 2.8008 pct -ICAP

Mon Jul 14, 2008 10:09am EDT

NEW YORK, July 14 (Reuters) - Three-month borrowing rates for U.S. banks rose to 2.8008 percent on Monday from 2.7989 percent on Friday, and above the comparable benchmark Libor rate, according to ICAP's New York Funding Rate.

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ICAP's 3-month NYFR USNYFR3M= compares with a 3-month dollar-denominated London interbank offered rate USD3MFSR= of 2.79063 percent.

ICAP's one-month NYFR USNYFR1M= rose to 2.4746 percent from 2.4618 percent on Friday, it said. That's above the one-month dollar-denominated Libor rate USD1MFSR= of 2.46000 percent.

(Reporting by John Parry; Editing by Chizu Nomiyama)

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