The rate is still VERY LOW compared to the 4.58% peak at the height of the financial crisis (10/9/2008 charts). In February the Fed raised the Discount Rate by 25 basis points to 0.75%. It will be interesting to see how the pricing of debt changes going forward, as well as how precious metals and the Dollar react. The Fed is giving everybody cheap money which could bring on the next 2007-esque ZIRP (zero interest rate policy) funded LBO boom, if a double dip recession doesn't ruin the bash...
$LIBOR 1-Month Rate (Courtesy of Stockcharts.com)
Fed Discount Rate (Primary Credit Rate, DPCREDIT) - St. Louis Fed
Visit the Fed discount window at http://www.frbdiscountwindow.org/.