Interbank marketFinancial institutions exchange of currencies between and among themselves.
London Interbank Bid Rate (LIBID)London Interbank Bid Rate (LIBID)
The bid rate that a Euromarket bank is willing to pay to attract a deposit from another Euromarket bank in London. Related: LIBOR.
Interbank rateInterbank rate
The rate of interest charged by a bank on a loan to another bank. See LIBOR.
Clearing house interbank payment systemClearing house interbank payment system
A 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.
Society for Worldwide Interbank Financial Telecommunications (SWIFT)Society for Worldwide Interbank Financial Telecommunications (SWIFT)
A dedicated computer network to support funds transfer messages internationally between over 900 member banks world-wide.
Further SuggestionsClearing House Interbank Payments System (CHIPS)
London Interbank Offered Rate (LIBOR)
Paris Interbank Offer Rate (PIBOR)
Moscow Interbank Currency Exchange (MICEX)
Society for Worldwide Interbank Financial Telecommunications