Floating rate: Difference between revisions
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{{g}}An [[interest rate]] that floats, by reference to inter-bank offered rates, or central bank base rates, or that kind of thing. The [[London Interbank Offered Rate]] — fondly known as [[LIBOR]] — cue [[dramatic look gopher]] | {{a|g|[[File:Dramatic Chipmunk.png|450px|frame|center|DID SOMEONE SAY [[LIBOR]]???]]}}An [[interest rate]] that floats, by reference to inter-bank offered rates, or central bank base rates, or that kind of thing. The [[London Interbank Offered Rate]] — fondly known as [[LIBOR]] — cue [[dramatic look gopher]] — was once the daddy of interest rates, but it has rather fallen upon hard times. | ||
Once thought of as a sleepy corner of the financial markets inhabited by losers who | Once thought of as a sleepy corner of the financial markets inhabited by losers who couldn’t get a job trading anything sexy like [[Credit derivative|credit derivatives]] but, ''boy'' did a few folks who thought that get a surprise in 2012. | ||
They’re in jail now. | They’re in jail now. | ||
{{Google2|Libor|Scandal}} | {{Google2|Libor|Scandal}} | ||
{{ref}} | {{ref}} | ||
Latest revision as of 10:01, 4 March 2020
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An interest rate that floats, by reference to inter-bank offered rates, or central bank base rates, or that kind of thing. The London Interbank Offered Rate — fondly known as LIBOR — cue dramatic look gopher — was once the daddy of interest rates, but it has rather fallen upon hard times.
Once thought of as a sleepy corner of the financial markets inhabited by losers who couldn’t get a job trading anything sexy like credit derivatives but, boy did a few folks who thought that get a surprise in 2012.
They’re in jail now.