Interbank Offer Rate

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Interbank Offer Rate

The interest rate that banks in a jurisdiction charge one another for short-term, interbank loans. Major interbank offer rates, notably LIBOR and HIBOR, are considered key benchmark interest rates in the wider economies. Interest rate swaps, for example, often use an interbank offer rate as the reference rate for the floating payer.
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The three-month dollar London Inter-Bank Offer rates rose to their highest level since January 2001, and the yield on the US 10-year treasury note fell to a five-month low with volatility in that market remaining near a three-year high; Moody's anticipates up to six months for the credit markets to return to normal.
State of play: the orthopedic M&A market and the credit crunch

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