Floating rate: Difference between revisions
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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. | 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]] — 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 derivative|credit derivatives]] but boy did a few folks who thought that get a surprise in 2012. | 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. | ||
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They’re in jail now.<ref>Mind you, so are quite a few credit derivatives traders.</ref> | They’re in jail now.<ref>Mind you, so are quite a few credit derivatives traders.</ref> | ||
{{Google2|Libor|Scandal}} | {{Google2|Libor|Scandal}} | ||
{{ref}} | |||
Revision as of 17:56, 16 March 2018
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 — 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.[1] let me Google that for you
References
- ↑ Mind you, so are quite a few credit derivatives traders.