Overnight euro Libor rates edged lower to 2

Overnight euro Libor rates edged lower to 2.07 percent from2.07125 percent on Friday although the activities of investorsin the overnight market suggested a reluctance to lend. 11,figures showed, topping a previous record of 297.4 billion eurosset in November. The ECB also said 1.460 billion euros had been borrowed bybanks from its overnight loan facility, down from the 1.837billion euros previously. The amounts flowing through the ECB's overnight facilitiesremain well above levels when interbank lending markets arefunctioning properly and are a sign that jittery banks areopting to hoard their cash rather than lend it on to each other. "In spite of falling eonia and Euribor rates, the moneymarket remains severely dislocated," said Lena Komileva,Director, Head of G7 Market Economics at Tullett Prebon inLondon. A 50-basis-points rate cut on Thursday by the ECB is fullypriced in but the market expects more rate cuts in the pipeline,which will continue to depress euribor rates. "However market sentiment remains fragile and any sign ofECB caution in using their policy ammunition on Thursday will beinterpreted as warning signal for the liquidity outlook," saidKomileva The ECB's key rate is at 2.5 percent.

Dollar three-month London interbank offered rates (Libor)USD3MFSR eased to 1.16 percent from 1.26 percent on Friday,according to the latest daily fixing from the British Bankers'Association. That helped the spread of three-month Libor rates over OISrates for dollars fall to 99 bps from 109 bps on Friday. Theequivalent euro spread was steady at 112 bps, while the sterlingspread narrowed to 138 bps. The spread expresses the three-month premium paid overanticipated central bank rates, or Overnight Index Swap rates,and is seen as a gauge of banks' willingness to lend to eachother a wider spread is seen as an indication of decreasedinclination to lend "Every day the funding gets easier. Last week there wasabout $80 billion increase in commercial paper issuance but theFederal Reserve's CP facility increased holdings by around $3billion," said Keeble. "Essentially, non-Fed money is stepping into the dollar CPmarket.

DOLLAR SWAP SPREAD HOVERS NEAR MID-SEPT LOW Dollar swap spreads tightened further, to their narrowestsince mid-2007, but that was driven more by Friday's grim jobsdata showing U.S. joblessness at a nearly 16-year high andtherefore expectations the Federal Reserve will keep rates nearzero for a long time. The two-year swap spread USDSB3L2YRR US2YTRR was lastseen at 50.5 basis points. On Friday, the spread narrowed toaround 48 bps intraday in New York, its lowest level since July2007 before the financial crisis blew up a month later and morethan 100 basis points off its widest in October 2008.ID:nLC727674 Overnight, interbank U.S.

dollar rates in Singapore hittheir lowest since April 2004 but the 3-month SIBOR was stillabout 108 bps higher than the effective overnight fed fundsrate, suggesting cash was not circulating as freely as in normaltimes. (Reporting by George Matlock; Editing by Victoria Main) Currencies Bonds Global Markets Currencies Bonds Global Markets. TORONTO, ONTARIO, Jan 12 (MARKET WIRE) Wireless Age Communications, Inc. (OTCBB: WLSA), (the "Company") todayannounced that on Friday January 9, 2009, Saskatchewan Telecommunications("SaskTel") served Wireless Age's subsidiaries Wireless AgeCommunications Ltd ("Wireless Age") and Wireless Source DistributionLtd. ("Wireless Source") a Notice of Intention to Enforce Security underSection 244(1) of the Bankruptcy and Insolvency Act and also obtained andserved on the Wireless Age subsidiaries a Court Order obtained withoutprior notice to the Company or its subsidiaries (the "Order") that ordersthe immediate appointment of an Interim Receiver.As previously announced by the Company on October 29, 2008, SaskTelobtained a security interest in the assets of Wireless Age and WirelessSource by entering into a Repayment Agreement with Wireless Age, WirelessSource and Newlook Industries Corp. Wireless Age intends tovigorously oppose the Order, and to seek other remedies against SaskTel,as the Company believes, among other things, that SaskTel obtained theOrder without disclosing all pertinent facts to the Court.John G.