London Interbank Offered Rate
noun
London In·ter·bank Offered Rate
-ˈin-tər-ˌbaŋk-
: the interest rate that banks charge each other for loans in the London banking market
Note: The London Interbank Offered Rate is used worldwide as a benchmark for rates on loans and financial instruments.
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“London Interbank Offered Rate.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/London%20Interbank%20Offered%20Rate. Accessed 24 Nov. 2024.
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