1. home
›
2. #tags
›
3. Libor

Discover Latest #Libor News, Articles and Videos with Contenting

Libor News, Articles and Videos Libor is an acronym that stands for London Interbank Offered Rate. This interest rate is set by a committee of banks and is used as a benchmark for financial instruments such as mortgages, loans and credit cards. It is the most widely used interest rate in the world and is a key component of the global financial system. The rate is determined by a daily survey of leading banks, which quote the rates at which they are willing to lend to one another. This rate influences borrowing costs for millions of people and companies around the world. In recent years, Libor has been the focus of several scandals, as banks were found to have manipulated the rate for their own profit. As a result, regulators have proposed a new system to replace Libor, which is set to take effect in 2021. In this article, we will take a look at the history of Libor, how it is calculated, and how it affects the global economy.