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LIBOR’s Demise Means Changes Are Coming

Posted 1:00 PM by
The London Interbank Offered Rate (LIBOR) is a staple of the financial industry. LIBOR is a calculated average rate that participating banks estimate they would be charged by other banks. As brought to light in a significant rate-rigging scandal from a few years ago, British regulators who oversee the rate calculation have determined that there are not enough actual transactions to support the estimates made by the banks, and so the estimates will no longer be required after 2021. This spells the end of LIBOR.
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