Posts tagged 'Eurolibor'

EuriBORE: the recommendations, the fat fingers, the inconsistencies

ESMA (European Securities and Markets Authority) and the EBA (European Banking Authority) got together to make recommendations to the EEBF (Euribor-European Banking Federation) about Euribor. All the acronyms that start with E were there. It was quite the party, we’re told. Like, the EFSF got sooo drunk and nearly bailed out the Spanish government! The ESM was seriously not amused.

Anyway… Read more

zOMG Deutsche Bank traded rates while also being on Libor panels

The WSJ has news: “Bank Made Huge Bet, and Profit, on Libor“. The bank in question being Deutsche. The huge bet and profit being in 2008 on a bunch of rates trades.

Of course other banks did and do trade rates, in size, but let’s cut straight to the WSJ graphic… Read more

Cosmic European commercial paper

There’s been much focus on surging Libor of late, but there’s another (sky-high) money market indicator to watch in Europe’s credit crisis, FT Alphaville says. The rate for 30-day European Commercial Paper (ECP) has surged in recent days, much as US CP did before the collapse of Lehman. Read more

Lehman-Greece parallels du jour (II)

Whisper it softly — but something is afoot in money markets.

The below charts, showing US dollar, sterling and euro Libor rates, via Marc Ostwald at Monument Securities, show an ineluctable trend upwards in recent weeks. Read more

Crushing rates the ECB way

As the FT reports, the European Central Bank has pumped a record €442.2bn into the eurozone banking system in its first-ever offer of unlimited one-year funds.

Respective euro rates fell to record lows following the move, as can be seen below. Here’s Eonia: Read more