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MONEY MARKETS: Eonia Swap Falls From 7-Mo High on LTRO Payback

Feb. 1 (Bloomberg) -- An estimate of future overnight borrowing costs in euros falls from highest in seven months after ECB announced banks will repay EU3.5b of emergency loans next week. * Three-month Eonia swap is 12.6 bps vs 13.9 bps yesterday, highest since July 5 * Euribor-OIS spread is 10.8 bps vs 9.3 yesterday * Three-month euro-dollar cross-currency basis swap cost is 14 bps below Euribor, highest in a week, vs -12 bps yesterday * NOTE: LTRO Payback to Slow; Close Eonia Steepener, RBC Says NSN MHJ5U96S973B <GO>

To contact the reporter on this story: Katie Linsell in London at klinsell@bloomberg.net

To contact the editor responsible for this story: Paul Armstrong at parmstrong10@bloomberg.net

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