Definitions for libor
li·bor

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1. Libor

   The London Inter-bank Offered Rate is an interest-rate average calculated from estimates submitted by the leading banks in London. Each bank estimates what it would be charged were it to borrow from other banks. The resulting rate is usually abbreviated to Libor or LIBOR, or more officially to ICE LIBOR (for Intercontinental Exchange Libor). It was formerly known as BBA Libor (for British Bankers' Association Libor or the trademark bba libor) before the responsibility for the administration was transferred to Intercontinental Exchange. It is the primary benchmark, along with the Euribor, for short-term interest rates around the world.Libor rates are calculated for five currencies and seven borrowing periods ranging from overnight to one year and are published each business day by Thomson Reuters. Many financial institutions, mortgage lenders and credit card agencies set their own rates relative to it. At least $350 trillion in derivatives and other financial products are tied to Libor.In June 2012, multiple criminal settlements by Barclays Bank revealed significant fraud and collusion by member banks connected to the rate submissions, leading to the Libor scandal. The British Bankers' Association said on 25 September 2012 that it would transfer oversight of Libor to UK regulators, as proposed by Financial Services Authority managing director Martin Wheatley's independent review recommendations. Wheatley's review recommended that banks submitting rates to Libor must base them on actual inter-bank deposit market transactions and keep records of those transactions, that individual banks' Libor submissions be published after three months, and recommended criminal sanctions specifically for manipulation of benchmark interest rates. Financial institution customers may experience higher and more volatile borrowing and hedging costs after implementation of the recommended reforms. The UK government agreed to accept all of the Wheatley Review's recommendations and press for legislation implementing them.Significant reforms, in line with the Wheatley Review, came into effect in 2013 and a new administrator took over in early 2014. The British government regulates Libor through criminal and regulatory laws passed by the Parliament. In particular, the Financial Services Act 2012 brings Libor under UK regulatory oversight and creates a criminal offence for knowingly or deliberately making false or misleading statements relating to benchmark-setting.

Anagrams for libor »

1. broil

How to pronounce libor?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say libor in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of libor in Chaldean Numerology is: 6

2. Pythagorean Numerology

   The numerical value of libor in Pythagorean Numerology is: 2

Examples of libor in a Sentence

1. Anthony Allen:

   It was just not a relevant consideration when you're setting Libor.

2. The FPC:

   There is no justification for firms continuing to increase their exposure to Libor.

3. Matthew Frankland:

   Ultimately, there is a hypocrisy in charging brokers, brokers do not work for banks, they play no part in the Libor submission process and are not and never were regulated... in relation to their Libor predictions.

4. Ricardo Rico:

   It is very difficult for a single A credit to get (all-in) cost of funding at 60bp over Libor, at least during the current year single A curves for banks in the US are closer to 90bp.

5. Adam Wolk:

   An increasing number of banks have put it on their list of terms to put in every deal, now it’s rare to see a deal get signed up without a Libor floor.

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References

1. ^ Wikipedia
   https://en.wikipedia.org/wiki/Libor