Centra Bank appoints Thomson Reuters as the official calculation agent and distributor for the UAE Interbank Offer Rate
Among the crisis are those involving the manipulation of the LIBOR (London Interbank offer rate
) and mis sold payment protection insurance (PPI).
Conventional loans more typically are keyed to the Prime rate or to the London Interbank Offer Rate
According to Bloomberg, the euro Interbank offer rate
and the overnight indexed swaps difference (Euribor-OIS spread) was recorded at 23.6 points, the lowest since July 9, 2011
Prime rate or the London Interbank Offer Rate
(LIBOR) index," he noted.
The cross country base swap, which is the rate used to convert Euro interest payments into dollars, dropped to 35 basis points below the Euribor (Euro Interbank Offer Rate
), its lowest since July 26, 2011.
Loans are typically priced at a spread over LIBOR (the London Interbank Offer Rate
), or a spread over the prime rate.
As per the plan, the two organisations would release what would be called the Qatar Interbank Offer Rate
(QIBOR), which would use the contributed offer rates quoted by nine empanelled banks.
M2 EQUITYBITES-April 24, 2015-Deutsche Bank reaches joint settlement with US and UK regulators over interbank offer rates
BANKING AND CREDIT NEWS-April 24, 2015-Deutsche Bank reaches joint settlement with US and UK regulators over interbank offer rates