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Lombard rate |
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Lombard rate Applies mainly to international equities. Interest rate the German Bundesbank uses as an upper limit to the day-to-day money rate, since no bank will pay higher rates in the money market than it has to pay for very short-term recourse to Lombard credit.
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| Lombard rates have varied from 25 to 200 basis points above the central bank's target policy rate or related money market rates. The Bundesbank accepted a drop in the rate at which it routinely supplies liquidity to the banking system and announced a further reduction in its Lombard rate of 1/2 percentage point to 7. The German Bundesbank reduced its official discount rate and its Lombard rate each 100 basis points in a series of steps undertaken during the February-April period to stimulate the weakening German economy. |
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