July 26, 2010 / 9:18 AM / 10 years ago

Key Euribor rates edge up to near-year highs

FRANKFURT, July 26 (Reuters) - Key euro-priced interbank lending rates hit near-year highs on Monday, pushed up by banks’ recent decision to scale back their consumption of ECB liquidity and the ongoing euro-zone jitters.

The three-month Euribor rate EURIBOR3MD= — traditionally the main gauge of interbank euro lending and a mix of interest rate expectations and banks’ appetite for lending — rose to 0.889 percent from 0.885 percent the previous day, the highest level since late July 2009.

Six-month rates EURIBOR6MD= increased to 1.137 percent from 1.133 percent, while one-year rates EURIBOR1YD= rose to to 1.407 percent from 1.402 percent, the highest in a year, but the shorter-term one-week rates EURIBORSWD= fell to 0.580 percent from 0.582 percent, recording the first daily fall since mid-June.

The overall level of excess cash in money markets has more than halved since banks paid back 442 billion euros worth of one-year loans to the European Central Bank at the start of the month.

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For graphic of euro zone liquidity levels click here ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

Interbank rates have also been pushed higher on fears that some European banks may run into trouble in the wake of the euro-zone debt crisis and soon-to-be-published stress tests.

ECB President Jean-Claude Trichet expressed little concern about the rise in money market rates when asked about the trend earlier this month. [ID:nLDE6670DA]

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 EURIBOR=

* 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 EONIAINDEX

* For graphs of historic Euribor and EONIA swap rates, right click on the links in angle brackets below, and select ‘Related Graph’ 1 week EURIBORSWD= EONIAINDEXSW= 2 week EURIBOR2WD= EONIAINDEX2W= 3 week EURIBOR3WD= EONIAINDEX3W= 1 month EURIBOR1MD= EONIAINDEX1M= 2 month EURIBOR2MD= EONIAINDEX2M= 3 month EURIBOR3MD= EONIAINDEX3M= 4 month EURIBOR4MD= EONIAINDEX4M= 5 month EURIBOR5MD= EONIAINDEX5M= 6 month EURIBOR6MD= EONIAINDEX6M= 7 month EURIBOR7MD= EONIAINDEX7M= 8 month EURIBORS8M= EONIAINDEX8M= 9 month EURIBOR9MD= EONIAINDEX9M= 10 month EURIBOR10MD= EONIAINDEX10M= 11 month EURIBOR11MD= EONIAINDEX11M= 1 year EURIBOR1YD= EONIAINDEX1Y= (Reporting by Frankfurt newsroom; Editing by Toby Chopra)

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