London Interbank Offered Rate (LIBOR)

{
  "id": "MLC-T-INS-002052",
  "term": "London Interbank Offered Rate (LIBOR)",
  "field": "Insurance and risk management",
  "definition": "A benchmark interest rate at which major global banks lend to one another in the international interbank market for short-term loans. It was widely used as a reference rate for a broad range of financial products, including some insurance contracts and annuities. LIBOR was published for five currencies and seven maturities each business day, though its use has been phased out and replaced by alternative reference rates.",
  "abbreviation": "LIBOR",
  "url": "https://mlchart.com/terminology/insurance/london-interbank-offered-rate-libor/"
}