Libor – Not Exactly an Obituary, But…

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Posted To: MND NewsWire

A group of financial experts is scheduled to meet at on Thursday to make funeral arrangements for Libor . In case you hadn’t heard, the London interbank offered rate, the number that indicates how much one bank needs to borrow from another, is not expected to survive much beyond the end of the decade. All good, or even not so good, things must come to an end, and Libor has had moments of each, but Matt Phillips, writing in the New York Times, says the problem is that the financial world, going into the meeting at the Federal Reserve of New York, hasn’t figured out what to do if/when Libor breathes its last. While most of this country has no clue about Libor, few are untouched by it. It is the basis for interest rates on huge corporate loans , private student loans, and for resetting rates on…(read more)

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