LIBOR is an acronym for the London Interbank Offered Rate, which is the average interest rate set by a group of international banks and charged by and between banks. Sixteen-(16) banks set the LIBOR rate: Bank of America, Bank of Tokyo-Mitsubishi, Barclays Bank, Citibank, Credit Suisse, Deutsche Bank, HBOS, HSBC, JP Morgan Chase, Lloyds TSB Bank, Rabobank, Royal Bank of Canada, Norinchukin Bank, Royal Bank of Scotland, UBS, and West LB. LIBOR sets short and long term interest rates for 10 currencies and for 15 different time spans, ranging from one day to one year. The rate is calculated daily by a company named Thomson Reuters, which is the parent company of Reuters News, and is overseen by the British Banking Association (BBA). Although based in London, the LIBOR rate impacts all financial products across the globe. In the U.S., for example, there are two “numbers” that play a critical role in our economy: LIBOR and the prime rate. The LIBOR rate particularly affects sub-prime loan rates. Investigation in 2008 established that about 60 percent of prime adjustable rate mortgages and almost all subprime mortgages were tied to LIBOR. Through the interest rate process, LIBOR affects investments as well. The daily LIBOR rate is set daily by member banks, and then reported to the British Banking Association (BBA), a trade association of banks and financial services companies. It is then made public to the world. Investors make decisions based on LIBOR rates, whether the investment is short or long term.

LIBOR is an acronym for the London Interbank Offered Rate, which is the average interest rate set by a group of international banks and charged by and between banks. Sixteen-(16) banks set the LIBOR rate: Bank of America, Bank of Tokyo-Mitsubishi, Barclays Bank, Citibank, Credit Suisse, Deutsche Bank, HBOS, HSBC, JP Morgan Chase, Lloyds TSB Bank, Rabobank, Royal Bank of Canada, Norinchukin Bank, Royal Bank of Scotland, UBS, and West LB. LIBOR sets short and long term interest rates for 10 currencies and for 15 different time spans, ranging from one day to one year. The rate is calculated daily by a company named Thomson Reuters, which is the parent company of Reuters News, and is overseen by the British Banking Association (BBA).
Although based in London, the LIBOR rate impacts all financial products across the globe. In the U.S., for example, there are two “numbers” that play a critical role in our economy: LIBOR and the prime rate. The LIBOR rate particularly affects sub-prime loan rates. Investigation in 2008 established that about 60 percent of prime adjustable rate mortgages and almost all subprime mortgages were tied to LIBOR.
Through the interest rate process, LIBOR affects investments as well. The daily LIBOR rate is set daily by member banks, and then reported to the British Banking Association (BBA), a trade association of banks and financial services companies. It is then made public to the world. Investors make decisions based on LIBOR rates, whether the investment http://www.canadafreepress.com/index.php/article/47926?utm_source=CFP+Mailout&utm_campaign=d5f0ad027b-Call_to_Champions&utm_medium=emailis short or long term.