|
LIBID
The London Interbank Bid Rate (LIBID) is a bid rate; the rate bid by banks on Eurocurrency deposits (i.e., the rate at which a bank is willing to borrow from other banks). It is the "other end" of the LIBOR (an offered, hence "ask" rate, the rate at which a bank will lend). Whilst the British Bankers' Association set LIBOR rates, there is no correspondent official LIBID fixing. Conventional wisdom used to assert that a LIBID rate could be calculated by subtracting a fixed amount (often given as ⅛th of 1%) from the prevailing BBA LIBOR The London Inter-Bank Offered Rate is an interest-rate average calculated from estimates submitted by the leading banks in London. Each bank estimates what it would be charged were it to borrow from other banks. The resulting average rate is u ... rate, however this is no longer the case as bid–offer spreads have tightened in recent years. Additionally, it cannot be the case that the LIBOR/LIBID spread is always ⅛th of 1% for all maturit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
London Interbank Offered Rate
The London Inter-Bank Offered Rate is an interest-rate average calculated from estimates submitted by the leading banks in London. Each bank estimates what it would be charged were it to borrow from other banks. The resulting average rate is usually abbreviated to Libor () or LIBOR, or more officially to ICE LIBOR (for Intercontinental Exchange LIBOR). It was formerly known as BBA Libor (for British Bankers' Association Libor or the trademark bba libor) before the responsibility for the administration was transferred to Intercontinental Exchange. It is the primary benchmark, along with the Euribor, for short-term interest rates around the world. Libor was phased out at the end of 2021, and market participants are being encouraged to transition to risk-free interest rates. As of late 2022, parts of it have been discontinued, and the rest is scheduled to end within 2023; the Secured Overnight Financing Rate (SOFR) is its replacement. Libor rates are calculated for five currenci ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eurocurrency
Eurocurrency is currency held on Deposit account, deposit outside its home market, i.e., held in banks located outside of the country which issues the currency. For example, a deposit of United States dollar, US dollars held in a bank in London, would be considered eurocurrency, as the US dollar is deposited outside of its home market. The ''Euro-'' prefix does not refer exclusively to the "euro" currency or the "eurozone", as the term predates the creation of the euro. Instead, it can be applied to any combination of deposits in a foreign bank outside of its home market e.g. a deposit denominated in Japanese yen held in a Switzerland, Swiss bank is a Euroyen deposit. Eurocurrency is used for short-to-medium term financing by banks, multinational corporations, mutual funds, and hedge funds. Eurocurrency is generally seen as an attractive source of global funding due to its ease of convertibility between currencies as well as typically lower regulatory measures compared to sources ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
British Bankers' Association
The British Bankers' Association (BBA) was a trade association for the UK banking and financial services sector. From 1 July 2017, it was merged into UK Finance. It represented members from a wide range of banking and financial services. The association lobbied for its members and gave its view on the legislative and regulatory system for banking in the UK. Role The BBA described itself as the leading trade association for the UK banking sector with more than 230 member banks headquartered in over 50 countries with operations in 180 jurisdictions worldwide. Structure The BBA was a trade association owned and governed by its members. BBA board The board was the governing body of the Association. It agreed major strategies and policies. Member segment advisory boards Member segment advisory boards provided a forum to inform the agenda of the BBA board and policy committees. There was a member segment advisory board for the major retail banks, challenger banks, small banks, major ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Conventional Wisdom
The conventional wisdom or received opinion is the body of ideas or explanations generally accepted by the public and/or by experts in a field. In religion, this is known as orthodoxy. Etymology The term is often credited to the economist John Kenneth Galbraith, who used it in his 1958 book ''The Affluent Society'':''E.g.,'Mark Leibovich, "A Scorecard on Conventional Wisdom", ''N.Y. Times'' (March 9, 2008) However, the term dates back to at least 1838. ''Conventional wisdom'' was used in a number of other works before Galbraith, occasionally in a benign''E.g.,'1 Nahum Capen, ''The History of Democracy'' (1874), page 477("millions of all classes alike are equally interested and protected by the practical judgment and conventional wisdom of ages"). or neutral''E.g.,'"Shallow Theorists", ''American Educational Monthly'' 383 (Oct. 1866)("What is the result? Just what conventional wisdom assumes it would be."). sense, but more often pejoratively.''E.g.,'Joseph Warren Beach, ''The Te ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
