Banks 3-month funding rate at 0.3439 percent: ICAP

Three-month borrowing rates for banks were 0.3439 percent on Feb 28, according to ICAP's New York Funding Rate.

ICAP's 3-month NYFR was 0.3439 percent versus the previous session's 0.3478 percent, ICAP said. That compares with a 3-month dollar-denominated London interbank offered rate last fixed at 0.3095 percent.

ICAP 's one-month NYFR was 0.2631 percent versus the previous session's 0.2630 percent. That compares with a one-month dollar-denominated Libor rate last fixed at 0.2610 percent. (New York Treasury Desk)