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Euro LIBOR |
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Euro LIBOR The LIBOR calculated in euros. It is a rare occurrence to calculate the euro LIBOR and is mainly used as a convenience for contracts that predate the euro. Euro LIBOR What Does Euro LIBOR Mean? The London Interbank Offer Rate denominated in euros. This is the interest rate that banks offer one another 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 borrow quickly from other banks that have surpluses. Investopedia explains Euro LIBOR 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 preeuro times and is not used very commonly. Related Terms: Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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