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Tuesday, 13 June 2017

Qatar Banks Said to Boost Deposit Rates to Attract Dollars - Bloomberg

Qatar Banks Said to Boost Deposit Rates to Attract Dollars - Bloomberg:

"Some Qatari banks are boosting interest rates on dollar deposits to shore up liquidity as a Saudi-led campaign to isolate the gas-rich Arab state intensifies, people familiar with the matter said.

The lenders are offering a premium of as much as 100 basis points over the London interbank offered rate to attract dollars from regional banks, two of the people said, asking not to be named because the matter is sensitive. That compares with rates of 20 basis points over Libor before the feud started on June 5.

Some of the banks are dealing with regional lenders directly instead of using brokers, which allows them to determine interest rates depending on the amount being deposited, two of the people said."



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