Libor

The London interbank offered rate (Libor) and is the rate of interest at which banks in London are willing to lend to other banks.

Banking in London takes place in a huge range of currencies and Libor rates are available for many of them. Libor is often used as a benchmark to fix floating interest rates.

The Libor rate used as a benchmark is that calculated by the British Bankers Association (BBA). A number of banks report their rates to the BBA and a number based on these is released to the market daily.

Historical BBA Libor rates are published on the BBA Libor, and thre month rates are available daily on Twitter.