Clearing house interbank payment system
Clearing house interbank payment systemA computerised payment system for clearing cheques in New York.
London interbank offered rateLondon interbank offered rate
The interest rate that the largest international banks charge each other for loans, usually of Eurodollars. In fact, LIBOR includes rates quoted each day for many currencies, excluding the euro, but it is the rate for dollar loans that is used as a benchmark for other transactions.
Paris Interbank Offer Rate (PIBOR)Paris Interbank Offer Rate (PIBOR)
The deposit rate on interbank transactions in the Eurocurrency market quoted in Paris.
Clearing House Interbank Payments System (CHIPS)Clearing House Interbank Payments System (CHIPS)
An international wire transfer system for high-value payments operated by a group of major banks.
London Interbank Offered Rate (LIBOR)London Interbank Offered Rate (LIBOR)
The rate of interest that major international banks in London charge each other for borrowings. Many variable interest rates in the US are based on spreads off LIBOR. By contrast with the bid rate LIBID quoted by banks seeking such deposits.
Society for Worldwide Interbank Financial TelecommunicationsSociety for Worldwide Interbank Financial Telecommunications
An international body which sets protocols and standards for international payment systems, such as electronic money transfers.
Further SuggestionsInterbank rate
London Interbank Bid Rate (LIBID)
Society for Worldwide Interbank Financial Telecommunications (SWIFT)
Moscow Interbank Currency Exchange (MICEX)