May 25, 2018 / 1:57 PM / 10 months ago

MONEY MARKETS-Dollar 3-month LIBOR falls to 8-week low

NEW YORK, May 25 (Reuters) - A key measure of bank borrowing costs for three-month dollars fell to an eight-week low on Friday, signaling the growing cash available in money markets as the U.S. government has reduced its sale of Treasury bills.

The London interbank offered rate for three-month dollars was fixed at 2.31813 percent on Friday, the lowest level since 2.31175 percent on March 29.

On May 4, three-month dollar LIBOR increased to 2.36906 percent, the highest since November 2008.

LIBOR is a rate benchmark for $200 trillion on dollar-denominated interest rate swaps, loans and other financial products.

The Treasury had ramped up its offering of Treasury bills in March and April to replenish its coffers following a two-year budget deal and the suspension of the federal debt ceiling in late February. (Reporting by Richard Leong; Editing by Bernadette Baum)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below