LIBOR


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Related to LIBOR: Euribor

LIBOR

(ˈlaɪbɔː) or

Libor

n acronym for
London Inter-Bank Offer Rate: the standard rate of interest for loans between financial institutions
References in periodicals archive ?
Between September 15 and December 15, 2017 (the testing period) IBA conducted a test during which all 20 panel banks were required to make additional LIBOR submissions using the waterfall methodology to the same production standard as, and in parallel with, their existing LIBOR submissions.
The process is applied for five different currencies, across seven different maturities from overnight to one year--giving a total of 35 separate Libor rates.
But regulators' move to pull the plug has more to do with the fact that in the wake of the financial crisis, interbank lending tailed off, making the bank quotes on which Libor is based largely hypothetical.
UK regulators' decision to abandon the Libor benchmark by the end of 2021 threatens to sow confusion in the market as the industry races to replace the scandal-plagued rate that underpins more than $350 trillion (Dh1,285 trillion) of financial products.
The Financial Conduct Authority (FCA) said it would no longer force banks to submit to Libor from 2021 after a dearth of financial transactions providing data called into question the rate's relevance.
The Swiss National Bank has said that it is to select an alternative for Libor in due course.
Managers at Barclays told Libor submitters during the financial crisis to lower their Libor setting so the bank did not appear "in financial difficulty" and would not need to pay more than its rivals to borrow money, New York's attorney general said.
Prosecutors had alleged the men conspired with a currency trader to fix Libor rates in exchange for offers of treats like takeaway curries and drinks.
A Unlike Libor, which is mainly the rate banks charge each other for lending money, the Repo rate is based on a wider basket of assets.
By submitting false estimates of their borrowing costs used to calculate Libor, the 16 banks "fraudulently and collusively suppressed (the Libor rate), and they did so to their advantage," the FDIC said in the suit.
The Wheatley Review recommended that the Hogg Tendering Advisory Committee for LIBOR be mandated by HM Treasury, and the Financial Conduct Authority (FCA) should oversee the selection process for a new administrator of LIBOR and make recommendations to the BBA based on that process.
A judge ruled that allegations of Libor fixing, for which Barclays paid vast fines to global regulators, (http://www.