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. The [[London Interbank Offered Rate]] — fondly known as [[LIBOR]] — was once the daddy of interest rates, but it has rather fallen upon hard times. | {{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]]<ref> | ||
[[File:Dramatic Chipmunk.png|450px|frame|left|DID SOMEONE SAY [[LIBOR]]???]]</ref> | |||
— 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. | ||
Revision as of 22:30, 23 February 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[1]
— 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.[2] let me Google that for you
