Oct. 3 (Bloomberg) -- The rate at which London-based banks say they can borrow for three months in dollars rose for a 17th day, reaching the highest level since August 2010.
The London interbank offered rate, or Libor, for dollar loans climbed to 0.37761 percent from 0.37433 percent at the end of last week, according to data from the British Bankers’ Association. That’s the highest rate since Aug. 11, 2010.
The dollar Libor-OIS spread, a gauge of banks’ reluctance to lend, widened to 28.96 basis points at 12:36 p.m. in London, from 28.58 on Sept. 30. That’s 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 36.24 basis points from 35.40 basis points. It reached 36.53 on Sept. 23, the highest level since July 20, 2010.
--Editors: Matthew Brown, Mark McCord
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