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- Liva & Laia : 15th November
The three-month Euribor bankto bank lending rate rose slightly on Friday after the EuropeanCentral Bank kept official rates on hold at a record low 1.0percent.
The three-month rate EURIBOR, traditionally the maingauge of interbank euro lending and a mix of interest rateexpectations and banks' appetite for unsecured lending, edged upto 0.641 percent from 0.640 percent, extending the gap from lastweek's 0.634 percent record low.
Other rates did not budge. The shorter-term one-week rate EURIBOR was flat at 0.346 percent, the six-month rate EURIBOR remained put at 0.952 percent and the one-yearrate EURIBOR stayed at 1.221 percent.
The ECB has begun to rein in some of the long-term liquidity provided to markets to combat the financial crisis over the lasttwo years.
Last week banks took far less than expected at its final offering of 6-month funds, but a large excess of cash isexpected to remain in the euro zone banking system for much of2010.
The ECB has promised to keep providing banks with unlimitedone-week and one-month loans until at least mid-October.
Euribor rates are fixed daily by the Banking Federation ofthe European Union (FBE) shortly after 1000 GMT.
Three-month rates form a benchmark for much short-term commercial lending in Europe, and one-week rates give anindication of banks' very short term financing conditions.