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Economena » Time series » Beirut Reference Rate on LBP

LocationLebanon
Series ID17248
ReferenceLEB17248M122017
SourceAssociation of Banks in Lebanon
FrequencyMonthly
Rate%
Description
Citing the increasing discrepancy between the international rates and the situation of risks in Beirut market and the unrealistic continuity of the adoption of LIBOR – i.e. the lending rate between the banks in the London market – as a benchmark for local interests, the Board of Directors of ABL adopted, in its meeting, held on March 24, 2009, a methodology to calculate the Beirut Cost Rate (BCR). The banks started to implement it, starting the beginning of April 2009, as a reference rate in the fiduciary contract instead of LIBOR. This rate allows the banks, after the addition of the cost of the fiduciary process and the profitability of the banks, to set the best debtor interest rate. The ABL, in the calculation of this reference rate, relied on the average cost of term deposits in dollars, in addition to the average operational cost in the Lebanese banking sector, in proportion to the overall deposits which are weighed by credits in dollars to the overall credits.
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Date   Value
Dec 2017Sign In
Nov 2017Sign In
Oct 2017Sign In
Sep 2017Sign In
Aug 2017Sign In
Jul 2017Sign In
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