Basic information on financial databases: cook books, tips and tricks & economic news

This blog contains schematic easy to grasp - hands on - help in performing searches in economic databases, making work sets and making them inter-exchangeable between the databases.

* Disclaimer. I am not a finance professional. Most posts are the result of personal findings.

All presented images are scaled and can be enlarged to original size (click the picture).

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Datastream: Interbank. Libor and Euribor

Search word: interbank offered rate > categories economics (170) and interest rates (907)

Search words: interbank

Libor (London Interbank Offered Rate > 
Possible categories: interest rates and economics

Euribor (Euro Interbank Offered Rate) >
Category: only economics

These rates are the rates banks banks borrow money to each other.
Many other interest rates are derived fom Libor and Euribor, for instance mortgages.

The rates are confirmed on daily basis by Thomson Reuters, which asks what rates are used in interbank loans.The average is then calculated from these rates.

Section Economics
Search words: interbank. Filter economics and for instance: federal reserve
Weekly: 18 hits
Monthly: 36 hits
Quarterly: 137 hits

It doesn't take too much effort to notice the flaw in this system. it's vulnerable to fraud.Much money can be made, here by either telling a higher than actual rate or vice versa.

Rabobank* used to be member to the Libor panel and has now been penalized for € 700 M
ING is member to Euribor.
Banks being penalized for fraud are: Rabobank, UBS, RBS and Barclays.
Currently discussion runs whether employees involved should be prosecuted or not.

Proof against Rabobank
E-mails between employees were tracked down wherein they made agreements which rate they were going to tell Thomson Financial (differing from the actual rate) By using this intenally and externally they were able to influence the actual rates.

Because of the small number of participating banks (12) a slight movement had large effect.

Best to use is the free text navigator instead of criteria (advanced)

Choose category Interest rates ; source: British Bankers’ Association


Best to search for
UK interbank for UK GBP LIBOR,
Japan interbank for Japanese Yen LIBOR, etc.

Datatype is IO (offered rate) (you don't have to fill in any datatype, the downloaded data are IO) Source is British Bankers' Assoc.
Note: LIBOR does not appear in the name of the series. 

NL Interbank, for Netherlands (26 total)

(example is a quarterly download)


Selections made: interest rates > key word: euribor >EURIBOR 3 month EIBOR3M
If you press button last values (pics) you get an idea if it still in use.

Strange peaks and dips may show.

Other Possible databases mentioned are Thomson One Banker, Bloomberg and GFD (Global Finance Database) VU is not subscribed to any of these.

* Rabobank.
Due to the Libor swindle the bank has withdrawn from three out of eight Libor panels (June 2012). Early 2013 they withdrew from Euribor as well.
How did all of this affect Performance?
Checking whether  their fine has effect on their stock price is impossible, since they're not publicly traded on any stock exchange (inherently to their business, being co-operative branched bank).
But they do issue Bonds and Warrants.
Bond search

1st column: default price
SP Spread Over Benchmark Curve
SWSP Spread Over Swap Curve

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