| 单词 | London Inter Bank Offered Rate |
| 释义 | London Inter Bank Offered Rate = LIBOR The rate of interest in the short-term wholesale market (see interbank market) in which banks offer to lend money to each other. The loans are for a minimum of £250,000 for periods from overnight up to five years. The importance of the market is that it allows individual banks to adjust their liquidity positions quickly, covering shortages by borrowing from banks with surpluses. This reduces the need for each bank to hold large quantities of liquid assets, thus releasing funds for more profitable lending transactions. LIBOR is the most significant interest rate for international banks. It is officially fixed at 11 a.m. each day by five major London banks, but fluctuates during the day. It is also used as a benchmark for lending to bank customers. It is also a reference rate for many derivatives. See also: |
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