FRANKFURT, June 28 (Reuters) - Euribor bank-to-bank lending
rates eased further on Friday, extending their fall after the
European Central Bank said earlier this week it was still far
from exiting its crisis-fighting policies.
ECB President Mario Draghi and several fellow policymakers
said the central bank was ready to take fresh action if needed,
dousing expectations it could follow the U.S. Federal Reserve's
lead and set out a plan to unwind growth-supporting measures.
Federal Reserve Chairman Ben Bernanke said last week that
the U.S. economy was expanding strongly enough for the central
bank to begin slowing the pace of its bond-buying stimulus later
The three-month Euribor rate, traditionally
the main gauge of unsecured bank-to-bank lending, eased to 0.218
percent from 0.219 percent.
The six-month rate fell to 0.335 percent from
0.337 percent and the one-week rate dipped to
0.094 percent from 0.095 percent. The overnight Eonia rate bucked the downtrend and inched up to 0.086 percent
from 0.084 percent.
Dollar-priced bank-to-bank Euribor lending rates were lower, with three-month rates
falling to 0.44889 percent from 0.45000 percent and one-week
rates down at 0.28333 percent from 0.28556 percent.
Excess liquidity in the euro zone banking
sector stood at 268 billion euros, still high enough to keep
market rates below the ECB's refinancing rate.
Draghi said in February that he did not expect market rates
to face upward pressure until excess liquidity in the banking
sector fell below 200 billion euros.
Euribor rates are fixed daily by the Banking Federation of
the European Union (FBE) shortly after 0900 GMT.
* For a table of the latest Euribor fixings for terms of one
week to one year, double click on
* For a table of the previous day's fixings of EONIA swap
rates, which show market expectations for future overnight
lending rates, double click on
* For graphs of historic Euribor and EONIA swap rates, right
click on the links in angle brackets below, and select 'Related
(Reporting by Frankfurt newsroom; Editing by Catherine Evans)
Keywords: MARKETS EURIBOR/
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