Sentence examples for an interbank from inspiring English sources
Banks can package them into investment products, or pledge them as collateral for an interbank loan.
ICAP, London, an interbank brokerage firm, said it had agreed to buy GovPX, New York, which provides bond and swap market pricing, for $13 million.
ICAP, London, an interbank derivatives company, said it bought First Brokers Securities Inc., New York, for $35.7 million in cash and further payments of cash and stock over the next three years.
Spanish mortgages have variable rates linked to the 12-month Euribor contract, an interbank lending benchmark for the 15-nation euro area that has swerved sharply upward over the past year.
Mr. Moore used to work for an interbank dealer called Lasser Marshall and served in the late 1980's on the foreign exchange committee that advises the Federal Reserve Bank of New York on foreign-exchange trading practices.
Such transactions were sometimes used to remove assets from banks' balance-sheets, helping them to meet rules on loan-deposit ratios and capital.Under old rules banks did not have to attribute much capital to an interbank loan.
But as a result, interbank lending rates, a key measure of market stress, had shot up, raising fears of a crunch.
"Be a hero today," a trader at UBS asked (in all caps) a broker at another firm in 2009 when the two discussed a specific interbank lending rate in an e-mail.
Regulators raised the interest rate on an important interbank loan last week, signaling further rate increases designed to rein in spending.
However, the Bank of England took a much sterner line than the ECB or the Fed.In mid-August the Fed supplied enough liquidity to hold the effective federal funds rate, an overnight interbank rate, below its then target of 5.25%.
"Of all the very many organizations and individuals who may have contributed to the failings of Libor-setting, the S.F.O. has chosen to charge Mr. Farr, an unqualified interbank broker who had no responsibility whatsoever for setting Libor rates, a minnow in a very large pond, for doing what he believed to be his job," Ms. Wheatley said in a statement.
