LIBOR (London Interbank Offered Rate)
A historic global benchmark for interbank lending (being phased out).
Detailed Description
LIBOR (London Interbank Offered Rate)
What does LIBOR stand for?
LIBOR stands for London Interbank Offered Rate.
Why was LIBOR introduced?
LIBOR was introduced to provide a standard reference rate for interbank lending.
Who oversees the LIBOR rate now?
The Financial Conduct Authority (FCA) oversees the LIBOR rate as of 2014.
What are some alternatives to LIBOR?
Alternatives to LIBOR include the Secured Overnight Financing Rate (SOFR) and the Euro Short-Term Rate (ESTR).
How does LIBOR impact borrowers and lenders?
LIBOR influences loan pricing and terms, affecting both borrowers and lenders in financial markets.