Oct. 13 (Bloomberg) -- The rate at which London-based banks say they can borrow for three months in dollars rose for the 25th straight day, reaching the highest level since August 2010.
The London interbank offered rate, or Libor, for dollar loans climbed to 0.403 percent from 0.401 percent yesterday, data from the British Bankers’ Association showed. That’s the highest since Aug. 9, 2010.
Credit Agricole SA submitted the highest rate today among the contributing panel of 19 lenders, at 0.4625 percent. HSBC Holdings Plc posted the lowest, at 0.2750 percent.
The dollar Libor-OIS spread, a gauge of banks’ reluctance to lend, was little changed at 31.8 basis points at 12:06 p.m. London time. The TED spread, or the difference between what lenders and the U.S. government pay to borrow for three months, widened to 39.29 basis points from 38.56 basis points yesterday. It reached 39.75 basis points on Oct. 11, the highest level since June 28, 2010.
--Editors: Daniel Tilles, Matthew Brown
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