Studied at National Institute of Fashion Technology Blogger, Video Editor New York United States
The upcoming phase-out of the interbank lending rate (IBOR) means big changes to financial services, but few firms are prepared. IBORs are "term rates", which means they are published for different periods of time such as 3 months and 6 months and are "forward looking",. What is IBOR? Interbank Offered Rates (IBORs), including the London Interbank Offered Rate (LIBOR), serve as widely accepted benchmark interest rates that. LIBOR is a benchmark interest rate at which major global lend to one another in the international interbank market for short-term loans. The Interbank offered rate (IBOR) replacement represents one of the major undertakings for the financial services industry in the coming years. Definition of interbank offered rate (IBOR): Interest rate at which banks lend to and borrow from one another in interbank market.