It's not over.
Drama unfolding deep in the bowels of the financial system looks set to continue after a brief pause in August, according to new analysis from TD Securities (USA.
The London Interbank Offered Rate known as Libor surging from 61 basis points at the start of the year to 84 bps at the end of August, the highest since the financial crisis. The move comes ahead of the Oct. 14 deadline for reform efforts that will see money market funds — a $2.7 trillion market that forms an important source of short-term funding for banks — build up so-called liquidity buffers and install redemption gates, among other measures.
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