Banks’ Dollar Funding Costs Hold Near One-Month High in Europe
This article is for subscribers only.
The cost for European banks to borrow in dollars held near the highest in more than a month, according to a money-markets indicator.
The three-month cross-currency basis swap, the rate banks pay to convert euro interest payments into dollars, was little changed at 27 basis points below the euro interbank offered rate at 10:15 a.m. in London, data compiled by Bloomberg show. The measure is the most expensive since Oct. 1.