Table 3 illustrates one link between
call loan rates and aggregate NYC bank clearinghouse deposits and reserves.
Market sources attributed the high
call loan rate to credit squeeze fears as well as growing fund demand toward banks' book closings for the fiscal first half to the end of this month.
(36) The
call loan rate did have a statistically significant seasonal pattern between January 1919 and December 1927.
Insiders say that the interbank
call loan rate in China is higher than deposit rate by at least 100 basis points, or equal to 1% per annum.
The policy board has unanimously decided to leave the unsecured overnight
call loan rate in a zero percent to 0.1 percent range.
At the end of two-day policy meeting, Bank of Japan's (BOJ) Governor Masaaki Shirakawa and his six board colleagues voted unanimously to keep the unsecured overnight
call loan rate on hold.
The Bank of Japan (BOJ) has decided to keep the bank's unsecured overnight
call loan rate target unchanged in a range of 0.0 to 0.1 percent on Thursday.
The Bank of Japan has decided to leave its overnight
call loan rate unchanged, reports Dow Jones.
The central bank's efforts to reduce idle funds have helped raise the overnight
call loan rate among financial institutions on the island.
Under the zero interest rate policy of pegging the
call loan rate close to zero, life insurers had kept funds in ordinary deposits with a higher interest rate of 0.05%.
The policy board of Japan's central bank has also voted unanimously to leave the unsecured overnight
call loan rate at 0.1 percent, where it has been since December 2008.
Under the ultra-easy monetary policy adopted in February 1999, the BOJ steers the unsecured overnight
call loan rate as low as possible to prop up economic activity.
