Definition for : LIBOR, London Interbank Offered Rate
LIBOR is one of the main reference rates. LIBOR is the money-Market rate observed in London, which corresponds to the arithmetic mean of offered rates on the London banking Market for a given Maturity (between 1 and 12 months) and given currency (Euro, pound sterling, U.S. dollar, etc.).
(See Chapter 21 Other debt products of the Vernimmen)
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