Euro LIBOR
London Interbank Offer Rate denominated in euros. This is the interest rate that banks offer each other for large short-term loans in euros. The rate is fixed once a day by a small group of large London banks but fluctuates throughout the day. This market makes it easier for banks to maintain liquidity requirements because they are able to quickly borrow from other banks that have surpluses. Investopedia Says:
The Euro LIBOR is based on the average lending rates of 16 banks. These bank rates are available to the public through the British Bankers' Association. Euro LIBOR exists mainly for continuity purposes in swap contracts dating back to pre-euro times and is not very commonly used. Related Terms:
Benchmark
Euro Deposit
Euro Interbank Offer Rate - EURIBOR
Euro Overnight Index Average - EONIA
Eurocurrency
Footsie
London Interbank Bid Rate - LIBID
London Interbank Offer Rate - LIBOR
Panel Bank
Singapore Interbank Offered Rate - SIBOR |