Bloomberg.com, 2 Oct 2008, David Yong and Nate Hosoda
Oct. 2 (Bloomberg) -- Three-month interbank lending rates rose the most in a week in Singapore and Hong Kong, reflecting concern a global credit crisis will cause more banks to fail.
Banks in Singapore are charging an extra 26 basis points, or 0.26 percentage point, for U.S. dollar loans at 4.16 percent, the highest since Jan. 11. The interbank offered rate in Hong Kong, known as Hibor, climbed 13 basis points to 3.79 percent after Hang Seng Bank Ltd. said it holds debt issued by Washington Mutual Inc., the biggest U.S. bank to fail.
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