LIBOR

/ ˈlaɪbɔː /

abbreviation

1. London Inter-Bank Offer Rate: the standard rate of interest for loans between financial institutions

Example Sentences

All of the traders were convicted of manipulating the interest rates used for loans between banks, know as Libor in the UK, an issue at the heart of the 2008 financial crisis.

From BBC

The four convictions came after an investigation from the Serious Fraud Office into whether traders had been manipulating Libor for profit.

From BBC

Libor became the focus of allegations of wrongdoing following the financial crisis in 2008 and has now been discontinued, while its European equivalent Euribor is being reformed.

From BBC

The Libor scandal came to light in 2012, when it was discovered that banks were artificially inflating rates to profit from trading and were also lowering them to mask the troubles they faced following the outbreak of the global financial crisis.

From BBC

Tom Hayes and Carlo Palombo were jailed following trials for manipulating the interest rates used for loans between banks, known as Libor.

From BBC