London Interbank Bid Rate

(redirected from LIBID)
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London Interbank Bid Rate (LIBID)

The bid rate that a Euromarket bank is willing to pay to attract a deposit from another Euromarket bank in London. Related: LIBOR.

London Interbank Bid Rate

The interest rate at which participating London banks are willing to borrow eurocurrency deposits from other banks. Unlike LIBOR, which is the rate at which banks lend money, LIBID is the rate at which banks ask to borrow. It is not set by any body or organization, but is calculated as the average of the interest rates at which London banks bid for borrowed eurocurrency funds from other banks. It is also the interest rate London banks pay for deposits from other banks. It is an important benchmark in euromarkets.
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The fund aims to achieve a total return greater than one month LIBID.
Over the period since launch the Liquidity Fund has returned an annualised yield consistently ahead of its benchmark of 7 day [pounds sterling] LIBID and is expected to continue to meet its stated investment objective.
interest based on relevant national LIBID and base rates or equivalents