Czech banking association to stop calculating PRIBID.
Global Banking News-March 19, 2015--Czech banking association to stop calculating PRIBID
(C)2015 ENPublishing - http://www.enpublishing.co.uk
Global Banking News - 19 March 2015
The Czech Banking Association has agreed with the Czech Forex Club to stop calculating Prague interbank bid rates (PRIBID) from July, according to Reuters.
The move comes because such calculations are no longer needed, the association said. It added that the only rates that would continue to be calculated and published would be the offered rates, PRIBOR.
PRIBID rates show the average market rate for the purchase of deposits, while PRIBOR is the average rate for selling deposits.
[Editorial queries for this story should be sent to email@example.com]
((Distributed via M2 Communications - http://www.m2.com))