London Interbank Offered Rate
London Interbank Offered Rate : LIBOR, the most prominent of the interbank offered rates, is the rate of interest at which banks in London lend funds to other prime banks in London. LIBOR is frequently used as a basis for determining the rate of interest payable on Eurodollars and other Eurocurrency loans. The effective rate of interest on these Eurocredits is LIBOR plus a markup negotiated between lender and borrower. See: Interbank Offered Rate
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