London Interbank Offered Rate

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

Legal Definition of London Interbank Offered Rate

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

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

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“London Interbank Offered Rate.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/London%20Interbank%20Offered%20Rate. Accessed 26 Sep. 2020.

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