Introducing DIPOR: LIBOR for Open Finance

This free preview of The Block Genesis is offered to our loyal readers as a representation of the highly valuable journalism and research our Genesis members receive daily. If you’d like to receive all Genesis content on our site and via daily newsletter, join here.

LIBOR – the London Inter-Bank Offered Rate — is a benchmark interest rate used by major global banks to lend to one another in the international interbank market. There are multiple LIBOR rates, ranging from overnight loans to 12-month terms. Before the LIBOR scandal came to light in 2012, it served as the foundation for global interest-related products: loans, bonds, interest rate swaps, collateralized debt obligations, and more. More recently, American institutions have moved away from LIBOR to the Secured Overnight Financing Rate, which offers just one short-term rate.

Original source

Add comment

Please Sign in to be able to leave comments.