Sept. 28 (Bloomberg) -- The rate at which London-based banks say they can borrow for three months in dollars rose for a 14th day, reaching the highest level since August 2010.
The London interbank offered rate, or Libor, for dollar loans rose to 0.36856 percent from 0.36522 percent yesterday, according to data from the British Bankers’ Association. That’s the highest since Aug. 13, 2010.
The dollar Libor-OIS spread, a gauge of banks’ reluctance to lend, was at 27.96 basis points at 11:53 a.m. in London, from 27.82 yesterday. The spread reached 28.95 basis points on Sept. 19, the widest on a closing-price basis since July 27, 2010, according to data compiled by Bloomberg.
The TED spread, or the difference between what lenders and the U.S. government pay to borrow for three months, widened to 35.84 basis points from 35.51 basis points yesterday.
--Editors: Nicholas Reynolds
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