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3:40
YouTube
3-Minute Explanation
LIBOR vs. SOFR : Introduction, Scandals & Replacement : The Interest-Rate Benchmark
What is LIBOR? LIBOR is the abbreviation of London Interbank Offer Rate. It is an indicator of the average interest rates that UK banks charge other banks and financial institutions for short-term loans. Like people, banks also need to lend money to each other to satisfy their short-term needs. Currently, LIBOR is quoted for 5 main currencies ...
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