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London Inter Bank Offered Rate

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absolute rate

absolute rate  

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An interest rate expressed as a percentage rather than in relation to a reference rate.
backstop

backstop  

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Used in the euronote market when an underwriter, usually a bank, makes a commitment to buy notes at a predetermined margin, normally given in relation to London interbank offered rate ...
base rate

base rate  

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1 The rate of interest used as a basis by banks for the rates they charge their customers. In practice most customers will pay a premium over base rate on loans and will receive below the base rate ...
basis swap

basis swap  

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A swap in which the payments are based on two variable interest rates. The swap may be either in a single currency or across currencies. See cross-currency interest-rate swap; interest-rate swap.
bear floating rate note

bear floating rate note  

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(bear FRN;A type of floating rate note where the coupon increases disproportionately in relation to increases in interest rates (cf. leaverage). It is the opposite structure to a reverse ...
British Bankers' Association

British Bankers' Association  

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(BBA)A London-based organization that represents the views of all the banks recognized in the UK. Founded in 1919, it is regarded as the banks' trade association. It established model contracts for ...
combination yield curve swap

combination yield curve swap  

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Complex interest rate swap where one side of the transaction is based on the performance of one reference rate and the other is a package or combination of two or ...
committed facility

committed facility  

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An agreement between a bank and a customer to provide funds up to a specified maximum at a specified interest rate (in the UK this is usually based upon an agreed margin over the London Inter Bank ...
cost of funds

cost of funds  

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1 The cost to banks of borrowing in the principal money markets, which determines their rates of interest when lending to their customers.2 The cost to an organization of raising additional loan ...
cross-currency cap and floor

cross-currency cap and floor  

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A type of cap structure where the seller pays the spread between the interest rates of two currencies less a strike spread, where this is greater than zero. For instance ...
curve lock swap

curve lock swap  

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Package consisting of a yield curve swap coupled to an agreement to enter into a corresponding swap. The buyer may be attracted by the current differential between the short end ...
delayed LIBOR reset swap

delayed LIBOR reset swap  

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A type of interest rate swap or cross-currency swap contract where the setting of the floating interest rate payment calculation period is delayed until the payment date. Thus in a ...
deposit rate

deposit rate  

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The rate achieved by a market participant in the interbank market. As the London interbank offered rate is the asked or offer rate, the corresponding rate is the London inter-bank bid rate.[...]
differential swap

differential swap  

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A special type of basis swap in which one party exchanges floating rate payments in one currency into floating rate payments in another currency but where the payments are made ...
discount interest

discount interest  

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. (Money Markets).A method for quoting the annualized return on non-coupon securities, which always sell at a discount, in which the amount of the discount represents the investor's income ...
discounted margin

discounted margin  

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A measure of the excess return of a floating-rate note relative to a benchmark rate.
eurobond

eurobond  

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A bond issued in a Eurocurrency, that is, a European currency held outside its country of origin. Eurobonds are issued in bearer form, and the interest payments are free of withholding taxes. They ...
eurocredit

eurocredit  

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A loan in a eurocurrency.
eurocurrency

eurocurrency  

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A currency held in a European country other than its country of origin. Such currencies need not themselves be European: there are large Eurodollar and Euroyen deposits. This market is useful for ...
eurocurrency deposits

eurocurrency deposits  

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Short-term wholesale money market deposits made in the eurocurrency market. The market is much less regulated than the equivalent domestic money markets and has become a very significant activity for ...

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