Beirut Reference Rate on USD
Last value
Previous value
Percent year over year change
Add indicator
Edit Chart
  • |
  • |
  • Labels
  • |
  • 6m
  • 3y
  • YTD
  • All
  • Beirut Reference Rate on USD
    Location
    Lebanon
    Series ID
    17247
    Reference
    LEB17247M092019
    Source
    Economena Analytics, Association of Banks in Lebanon
    Frequency
    Monthly
    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.
    Start date
    Jan 2011
    End date
    Sep 2019
    Useful links
    www.abl.org.lb
    Tags
    beirut
    reference
    rate
    usd
    monthly
    association of banks in lebanon
    Suggested citation. Use of data is subject to Terms & Conditions
    Association of Banks in Lebanon, Beirut Reference Rate on USD, retrieved from BRITE;
    https://brite.blominvestbank.com/series/Beirut-Reference-Rate-on-USD-17247/
    Latest News From Our Blog
    Loading news...

    show more
  • Economic Highlights
    Popular Indicators
    Data Tree
    Data
  • About
    Help
    Contact
    Terms & Conditions
    Privacy Policy Cookies
  • Connect with us:
  • Powered by Economena Analytics & Moody’s Analytics
    Copyright © 2019 BLOMINVEST BANK