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 ?
"The transition away from LIBOR is gaining some much needed traction, but, as the staff's statement makes clear, significant work remains," said Chairman Jay Clayton.
He added that financial institutions must "very carefully consider their fallback provisions" to ensure that contracts are still viable when Libor ceases to operate.
LIBOR's already has chapters spanning the North and South Forks of Eastern Long Island to Western Queens.
In July 2017 the U.K.'s Financial Conduct Authority, which regulates LIBOR, announced that it would stop asking contributor banks to make LIBOR rate submissions after 2021.
Recall on July 27, 2017, the Brits prospectively announced a sunset date for maintenance of LIBOR: December 31, 2021.
(6) As a result, regulators in both the United States and United Kingdom, along with global financial organizations such as the International Organization of Securities Commissions ("IOSCO"), have published reports outlining the problems with LIBOR and beneficial principles for financial benchmarks.
The TLB-1 repricing follows the recent successful re-pricing of Avolon's USUSD 5.0 billion Term Loan B-2 ("TLB-2") facility with an April 2022 maturity to LIBOR plus 2.25% with a LIBOR floor of 0.75%.
Even those for whom Libor has been a significant factor during their working lives must be thinking "Not before time...!" The UK's Financial Conduct Authority (FCA) has set a 2021 deadline to find an alternative to the benchmark rate upon which so many financial instruments are priced.
The reputation of Libor, the rate at which major banks lend to one another, was tarnished by a 2012 scandal that revealed banks had manipulated the rate.
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 Swiss National Bank has said that it is to select an alternative for Libor in due course.
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.