Libor rates question

Why is the Libor overnight rate 5.09%, 1 month goes down to 4.51%, and 3 month back up to 4.75%? The banks think it is riskier to lend overnight than over a 1 month or 3 month basis?



Technically it is more risky to lend overnight, less risky to lend on a 3-Mon basis and less risky still to lend on a 1-Mon basis. Willy