Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Banks’ Dollar Funding Costs Fall From Two-Month High in Europe

Nov. 14 (Bloomberg) -- The cost for European banks to convert euro interest payments into dollars fell from the highest in more than two months, according to a money-markets indicator.

The three-month cross-currency basis swap, the rate banks pay to borrow in dollars, was 27 basis points below the euro interbank offered rate at 8:15 a.m. in London from minus 28 yesterday, data compiled by Bloomberg show. The measure was the most expensive since Sept. 5.

The one-year basis swap was 30 basis points, or 0.30 percentage point, below Euribor from minus 29 yesterday.

A measure of European banks’ reluctance to make unsecured loans to one another rose for a second day. The difference between Euribor and overnight index swaps, known as the Euribor-OIS spread, was 12.3 basis points from 12 yesterday.

The European Banking Federation’s euro overnight index average, or Eonia, of unsecured lending deals was 0.08 percent yesterday from 0.082 percent the day before. The Eonia swap, an estimate of average overnight borrowing costs over the next three months, was the lowest since Sept. 3 at 7 basis points from 7.2 yesterday.

Lenders cut overnight deposits at the European Central Bank to 239 billion euros ($304 billion) yesterday, the lowest since Dec. 19, from 252 billion euros the day before.

To contact the reporter on this story: Katie Linsell in London at

To contact the editor responsible for this story: Paul Armstrong at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.