Libor
/ˈlaɪbɔːr/
Definitions
- (n.) The London Interbank Offered Rate, a benchmark interest rate at which major global banks lend to one another in the international interbank market for short-term loans.
The loan agreement specified an interest rate tied to Libor plus a fixed margin.
Forms
- libor
Related terms
See also
Commentary
Libor is often used in contracts to set variable interest rates; legal drafting should clearly specify fallback provisions due to Libor's phase-out in many jurisdictions.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.