Financial economics

Eurozone interbank lending rate drops to lowest on record

Eurozone overnight interbank interest rates fell to their lowest levels on record on Tuesday, while a sharp rally in government bonds started to ease for some countries.

Strategists said money markets were continuing to adjust to last week's cut in the European Central Bank's main interest rates and its promise of fresh liquidity for banks, which should help short-term rates stable.

Draghi is bond's best friend as European yields fall to record lows

By David Goodman and Lucy Meakin

Mario Draghi has once again proved himself to be the bond market’s best friend.

A jump in government securities across the euro area sent yields to record lows on Friday, inspired by a fresh package of stimulus measures from the European Central Bank.

Fitch: NBG subsidiary well positioned in Turkish market

Fitch Ratings said in a new report on Tuesday that second-tier foreign-owned Turkish banks are well positioned to face the challenges inherent in Turkey’s volatile operating environment.

Finansbank, owned by National Bank of Greece (NBG), enjoys the highest net interest margin among the country’s four foreign-owned lenders, reflecting a business mix more focused on retail banking.

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