The rate at which European banks say they see each other lending in euros for three months dropped below the equivalent London interbank offered rate for dollars for the first time since January 2008.
The euro interbank offered rate, or Euribor, for such loans was 0.451 percent today, according to data from the European Banking Federation.
Three-month dollar Libor was at 0.4521 percent, data from the British Bankers’ Association showed.
To contact the reporter on this story: Keith Jenkins in London at firstname.lastname@example.org
To contact the editor responsible for this story: Daniel Tilles at email@example.com