Oct. 12 (Bloomberg) -- The rate at which London-based banks say they can borrow for three months in dollars rose for a 24th day, reaching the highest level since August 2010.
The London interbank offered rate, or Libor, for dollar loans climbed to 0.40083 percent from 0.3975 percent yesterday, according to data from the British Bankers’ Association. That’s the highest since Aug. 9, 2010.
Credit Agricole SA submitted the highest rate among the contributing panel of 19 lenders, at 0.46 percent today. HSBC Holdings Plc posted the lowest, at 0.275 percent.
The dollar Libor-OIS spread, a gauge of banks’ reluctance to lend, widened to 31.58 basis points at 1:42 p.m. in London, from 30.90 yesterday. That’s the widest on a closing-price basis since July 21, 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 39.07 basis points after reaching 39.75 basis points yesterday, the highest level since June 28, 2010.
--Editors: Nicholas Reynolds, Mark McCord
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