Law Dictionary

London Interbank Offered Rate

noun London In·ter·bank Offered Rate \-ˈin-tər-ˌbaŋk-\

Legal Definition of London Interbank Offered Rate

  1. :  the interest rate that banks charge each other for loans in the London banking market

Additional Notes on london interbank offered rate

The London Interbank Offered Rate is used worldwide as a benchmark for rates on loans and financial instruments.

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to cast off or become cast off

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