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Statement regarding BBA LIBOR rates

16 Sep 2008

The LIBOR overnight rate recognises that, in the current uncertain market conditions, banks are looking to their own liquidity as the priority.

This is particularly reflected in the US Dollar because of the well known world wide shortage of this currency.

The position may be fluid across the day and the Federal Reserve, the Bank of England and the European Central Bank have all said they are monitoring market conditions closely.

For further information, please contact:
Press Office (020 7216 8989 )
Out of Hours (020 7216 8888 )

 
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