The three-month London Interbank Offered Rate, or LIBOR, dropped to 4.50 percent from Wednesday's 4.55 percent.
The London interbank offered rate for Friday was due at midday London time.
The three-month, dollar-denominated London interbank offered rate hit 0.303%, touching a level not seen since April.
LIBOR, or London InterBank Offered Rate, theoretically represents what banks charge one another to borrow.
FORBES: About The Alleged LIBOR "Scandal", Back Away From The Cliff
The latest scandal is the manipulation of the Libor (London Interbank Offered Rate).
Libor, if you need a refresher, stands for the London Interbank Offered Rate.
FORBES: Libor Scandal Just Took A Nasty Turn, Collusion Findings Should Make Banks Very Nervous
Meanwhile, the London interbank offered rate, which is the rate at which banks lend to each other, continues to rise.
Like its more-prominent cousin Libor the London interbank offered rate Euribor has come under scrutiny about whether banks have manipulated the rate.
Barclays' misconduct relates to the daily setting of the London Interbank Offered Rate (Libor) and the Euro Interbank Offered Rate (Euribor).
Such a deal would make UBS the second financial institution this year to admit to manipulating the London interbank offered rate, Libor.
FORBES: Libor Scandal Extended To UBS: Bank Reportedly Near $450M Settlement With Regulators
The London Interbank Offered Rate (LIBOR) hit a 10-month high of 0.53781%.
The variable rate is keyed to the London Interbank Offered Rate (Libor).
Another is the London interbank offered rate, which measures the rate of lending between banks -- a higher rate indicates more caution.
Fortunately, there is at least one indicator that bodes well: the London interbank offered rate (Libor), which banks charge each other to lend.
The interest rate on the loan will be based on the London Interbank Offered Rate (lately, the 12-month LIBOR rate has been 2.3%), plus 2.3% to 2.8%.
Libor, or the London Interbank offered rate, also spiked on Wednesday night, rising 51 basis points, to 5.86% from 5.35%, its highest level since early 2001.
Still, on Friday, the London interbank offered rate, which measures the rate of lending between banks, eased slightly for three-month lending in euros and sterling.
Still there was some good news as the overnight London interbank offered rate (LIBOR)--a critical measure of credit availability-- fell to 2.47%, from 5.09%, on Thursday.
But now that investigations into possible manipulation of the London Interbank Offered Rate have accelerated, the extent of possible damages may be too scary for lawmakers to implement.
FORBES: LIBOR Fixing Allegations: Perhaps We Cannot Afford to Prove it Happened?
The three-month London Interbank Offered Rate was 3.42% on Wednesday, a vast improvement from the 4.82% earlier this month but still high considering the corresponding Treasury bond yield.
FORBES: The prime rate will come down, but loans won't go up.
The London interbank offered rate, the rate banks charge each other for short-term loans, soared in recent weeks despite central bank injections of hundreds of billions into the system.
Comparing variable-rate loans can be tricky because some private student lenders tie rates to the prime rate while others use the one-month or three-month London interbank offered rate, or Libor.
And Apple sold floating-rate bonds that mature in three and five years at rates of 0.05 and 0.25 percentage point over the three-month London interbank offered rate, an industry benchmark.
The overnight London interbank offered rate jumped to 3.94% from 2.37%, while three-month Libor inched up to 4.32% from 4.29%, illustrating the unwillingness of banks to lend among themselves.
The immediate challenge for central bankers is how to curb the unusual spike in the cost that banks charge to lend to each other, via the London Interbank Offered Rate (LIBOR).
Mr Coogan warned that the bank's efforts had yet to have much effect on the London Inter-Bank Offered Rate (Libor), the main interest rate governing the cost of lending between banks.
The overnight London interbank offered rate jumped again to 3.94% from 2.37%, while three-month Libor inched up to 4.32% from 4.29%, illustrating the unwillingness of banks to lend among themselves.
The London Interbank Offered Rate, or LIBOR, is a measure of credit availability because a lot of lenders use it as a peg to set their interest rates, and it rose yesterday.
The FSA found evidence that Barclays, sometimes working with staff at other banks, had tried to manipulate Libor (the London Inter-Bank Offered Rate) and its European equivalent Euribor between 2005 and 2009.
The London interbank offered rate, at which banks lend money to each other, rose on Thursday to 0.37%, its highest level since last August, a sign that short-term cash is becoming scarcer for banks.
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