In London banks are willing to offer fund in the inter-bank market at a particular rate of interest is called LIBOR. It is an average rate of interest of major five banks interested to place/land money for a period of 3(three) and 6(six) months. It is also a standard rate of interest set by those major banks for the following purpose:
- Adjustment of loan
- Issuance of financial instruments
- Discounting/purchasing of foreign documents etc.
2 comments:
Sir, thank you very much for starting such a nice voluntary service for the next genaration of bankers. Go on and enrich the knowledge base of the people working in the financial sector of the country.
Many thanks for your comments. I think it will be very helpful for the new bankers. So it is also your duty to convey the message about this blog to them. Keep reading this blog.
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