Interbank rateThe rate of interest charged by a bank on a loan to another bank. See LIBOR.
Interbank rateSee: LIBOR
Paris Interbank Offer Rate (PIBOR)Paris Interbank Offer Rate (PIBOR)
The deposit rate on interbank transactions in the Eurocurrency market quoted in Paris.
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 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.
Clearing house interbank payment systemClearing house interbank payment system
A computerised payment system for clearing cheques in New York.
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)
Society for Worldwide Interbank Financial Telecommunications
Moscow Interbank Currency Exchange (MICEX)
London Interbank Bid Rate (LIBID)