London Interbank Offer Rate

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London Interbank Offer Rate

The interest rate participating banks offer to other banks for loans on the London market. LIBOR is the most widely used benchmark for short term interest rates in the world, primarily because most of the world's largest borrowers borrow money on the London market. Because it is so prominent, it is often used in other transactions, such as swaps. For example, an interest rate swaps may give the floating rate as "LIBOR +/- X base points." It is set each day by the British Bankers Association, which calculates it by averaging short term, inter-bank, deposit interest rates among the most creditworthy banks. See also: EURIBOR.
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In case of local lending, it is indexed to Karachi Inter Bank Offer Rate (Kibor) and in case of foreign lending it is indexed to London Inter Bank Offer Rate (Libor) and any variation in the exchange rate.
This is why investing in the power sector is a bad idea
The other scandal that came much closer to Diamond's door was evidence of the manipula- tion of the London Inter Bank Offer Rate, or LIBOR, by Bar- clays' traders.
The eagle has re-branded
The other scandal that came much closer to Diamond's door was evidence of the manipulation of the London Inter Bank Offer Rate, or LIBOR, by Barclays' traders.
The eagle has re-branded: As Barclays Bank withdraws from Africa, a highly revealing new book examines its transformation from gentlemanly institution to would-be global player
SBP had in 2004 advised all commercial banks in Pakistan to deploy Kibor as the bench mark rate like London inter bank offer rate (Libor).
Islamic banking in Pakistan to get new concessions
He has further said that the PTA will award licence to the bid winner and thus the successful bidder will be required to deposit half of the offer price, whilst the outstanding payment must be made by a period of up to five years, including London Inter Bank Offer Rate and 3% gain on the amount.
Pakistan : ISLAMABAD: National Exchequer to net $1.3b via selling 3G & 4G licences
The government had sought offers from the banks about two months ago and most of them offered an interest rate of 7.77 percent above Libor (London Inter Bank Offer Rate), which was reduced to 5.3 percent for one year through negotiations.
FACTORS CONTRIBUTING TO EROSION IN RUPEE VALUE
The scandal surrounding Barclays Bank and allegations that the London Inter Bank Offer Rate (LIBOR) was manipulated has created a major uproar in the UK, but such incidents are not entirely new.
Introspection time for banks

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