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Interbank rate |
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Interbank rateThe rate of interest charged by a bank on a loan to another bank. See LIBOR.Interbank rateSee: LIBORInterbank rate Similar MatchesLondon 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. 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. London interbank offered rateLondon interbank offered rateThe 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. Clearing house interbank payment systemClearing house interbank payment systemA computerised payment system for clearing cheques in New York. 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. Further SuggestionsSociety for Worldwide Interbank Financial TelecommunicationsSociety for Worldwide Interbank Financial Telecommunications (SWIFT) Moscow Interbank Currency Exchange (MICEX) Interbank market Paris Interbank Offer Rate (PIBOR) |
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