What is LIBOR rate?
Posted: Fri May 04, 2012 12:20 pm
What is libor rate
Hi Pal,
London Inter Bank Offered Rate is the rate that a bank pays raising funds from Banks in London. This rate was fixed at 11H00 a.m. by few big Banks.
May be now it happens automatically and electronically. It is a benchmark for the Bank Community, but for EUR it is better speaking of EURIBOR.
So if you have to pay LIBOR plus a xx spread, you just add this spread to the LIBOR Rate that you can find on line in Reuter, Bloomberg etc website.
Other comments appreciated
Ciao