Oct. 4 (Bloomberg) -- The rate at which London-based banks say they can borrow for three months in dollars rose for an 18th day, reaching the highest level since August 2010.
The London interbank offered rate, or Libor, for dollar loans climbed to 0.38094 percent from 0.37761 percent yesterday, 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 29.19 basis points at 12:05 p.m. in London, from 28.71 yesterday. That’s the widest on a closing-price basis since July 26, 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, narrowed to 37.59 basis points after reaching 38.27 basis points yesterday, the highest level since July 13, 2010.
--Editors: Matthew Brown, Mark McCord
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