THE PHASE-OUT OF LIBOR AND IMPACT ON FINANCIAL TRANSACTIONS

By: Lisa D. Love

For nearly fifty years, the London Interbank Offered Rate (LIBOR) has been used by banks and other financial institutions as a global floating reference rate (benchmark). It is the primary benchmark for short-term interest rates around the world and underpins more than $350 trillion in mortgages, commercial loans, bonds and derivatives. LIBOR is the average of interest rates at which …

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