NEW YORK, Sept 30 The cost for a key short-term
funding source for banks and Wall Street climbed on Friday to
its highest level since the global financial crisis nearly eight
years ago due to quarter-end funding pressure and worries about
the banking sector.
The interest rate on repurchase agreements, which commercial
and investment banks use securities as collateral to raise cash
from investors, was last quoted at 1.15-1.20 percent, compared
with 0.95 percent, according to ICAP data.
(Reporting by Richard Leong; Editing by Chizu Nomiyama)