ABL said that the decision was due to the depreciation of interest rates in global markets to unprecedented lows, and the Ministry of Finance’s decision to stop selling Treasury Bills in LL.

ABL said that spreads between time saving rates and the three-month LIBOR rates in US dollars rose to 3.28 points in December from 2.50 basis points in January 2009.

Also, spreads between the cost of funds and returns in foreign currency dropped to 1.53 points in December from 1.9 basis points in January.

Last week, ABL advised banks to keep interest rates at the 6.25 percent mark.