LIBOR

London interbank offered rate (similar to the Australian BBSW) LIBOR is calculated daily by the British Bankers” Association by asking a panel of major banks what it would cost them to borrow funds for various periods of time and in various currencies and then creating an average of the individual bank’s figures LIBOR is the benchmark used by banks, securities houses and investors to gauge the cost of unsecured borrowing in the London money markets.

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