Interbank rate

(redirected from Interbank Rates)

Interbank rate

See: LIBOR

Interbank Rate

References in periodicals archive ?
THERE are expectations in the money market that there will be a moderation in the interbank rates this week following financial inflows worth N193.17 billion comprising Open Market Operation (OMO) instruments worth N109.8 billion and T-bills worth N83.37 billion.
Also, these bonds are sold at rates to 1.82% margin over NIBOR interbank rates. Danske Bank arranged the issue.
They expected the interbank rates to return to their normal averages at the end of this month once demand for the Lebanese pound falls.
According to analysts at Cytonn Investments the undersubscription was attributed to tight liquidity in the interbank market, which saw average interbank rates increasing to 5.9 per cent from 4.7 per cent, the previous week.
"I went to bank to get money from my dollars account but the bank refused to pay me and said I can only get my payments in local currency at interbank rates," said Zulfiqar Ahmed an account holder of a commercial bank.
This is not the first time the Kingdom has been in this position; during the previous period of sustained Libor increases from 2004 to 2006, Saudi interbank rates did overshoot the repo rate, which lagged behind the US Fed due to concerns over economic growth.
"Older mechanism based on interbank borrowing rates did not reflect the actual interbank rates as most interbank loans/deposits are too short term in nature.
Broad money supply (M2) grew by 14.4% year on year in August from 8.3% in July while the overnight interbank rates rose to 2.13% in August from 1.8% in July; the three-month interbank rate rose to 2.57% from 2.23%, QNB said.
Saudi Arabia's slowing economy, tighter liquidity and rising interbank rates mean investors should avoid the country's banks, Dubai-based Arqaam Capital said.
Interbank rates have already been rising in anticipation and as bank liquidity came under some pressure.
That scandal concerned fraud in setting the interest rates at which banks lend to each other (estimates of interbank rates that differed from the rates they actually accepted).