Thursday, May 6, 2010

Banks are now more reluctant to lend to each other than at any point since the problems of Greece first blew up last October

Interbank lending stress increasingly evident; European sovereign stresses bleeding into "real world"; Banks are now more reluctant to lend to each other than at any point since the problems of Greece first blew up last October; the overnight index swap (OIS) spread on futures contracts in the eurozone, rose to an all-time high this week; overnight lending now dominating - Of the €450bn ($589bn) in daily turnover in the European money markets, 90 per cent is now in overnight lending (FT)      

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