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Glossary

LIBID/LIBOR

LIBID is the abbreviation for London Interbank Bid Rate. This is the bid rate at which banks are willing to borrow eurocurrency deposits. LIBOR is the abbreviation for London Interbank Offered Rate. This is the offer rate at which banks are willing to lend to each other. LIBOR is administered by the Intercontinental Exchange which asks major global banks how much they would charge other banks for short-term loans. LIBOR is more popular than LIBID.
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