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Simple English definitions for legal terms

LIBOR

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A quick definition of LIBOR:

LIBOR: LIBOR stands for London Interbank Offered Rate. It is a daily compilation of the interest rates that major international banks charge each other for short-term loans of Eurodollars. These rates are used as the underlying interest rates for derivative contracts in currencies other than the euro. In simpler terms, LIBOR is a benchmark interest rate that helps determine the cost of borrowing money for banks and other financial institutions.

A more thorough explanation:

Definition: LIBOR stands for London Interbank Offered Rate. It is a daily compilation of the interest rates that major international banks charge each other for large-volume, short-term loans of Eurodollars. These rates are calculated out to one year and are used as the underlying interest rates for derivative contracts in currencies other than the euro.

Example: Let's say Bank A needs to borrow a large amount of money for a short period of time. They approach Bank B and ask for a loan. Bank B agrees to lend the money but wants to charge interest on the loan. The interest rate that Bank B charges Bank A is recorded as part of the LIBOR rate. This rate is then used as a benchmark for other loans and financial contracts.

Explanation: LIBOR is an important benchmark for the financial industry. It helps to determine the interest rates for a wide range of financial products, including mortgages, credit cards, and student loans. The rate is calculated based on the interest rates that major banks charge each other, so it reflects the current state of the financial market. This makes it a useful tool for investors and borrowers alike.

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JumpySubsequentDolphin
11:16
I told my family I won’t get any decisions until 2025 so they wouldn’t bombard me hahah
no i think there should be a Law School combine with all new drills except there is still the 40 yard dash
and a sub 4.5 gets you into any t14
LSAT can be one of the drills
letsseehowitgoesnow
11:17
so washu only called one person
So all the D1 athletes will get into a T-14. What else is new?
@TheAdoptedOne: that is called "Dean Poker Night" lol
@ClockworkBlue: I feel like most people could train for the 40 for the same amount of time as they do the LSAT and get close to sub 5 which would be equivalent to a 167+
this is like the schizophrenic posts JJK tik tok be putting out
powerscaling Law School deans up next
11:19
Election Day election day
Write in Dean Z vote
11:20
Saw a guy that wrote in Biden and he said no retirement for you buddy
1a2b3c4d26z
11:20
@ClockworkBlue: god I hope that's true
if the country was run the same as Mich Law it would be a better place
Imagine if election night was run by an adcom? Like, "yep, we could get the results Friday, or June 2025."
imagine if it was like Berkley applications
1a2b3c4d26z
11:22
Election status: Complete
1a2b3c4d26z
11:22
For months
triplethread
11:23
erection day
soapy
11:23
Shoutout to Robinhood's election bet not resolving until January
triplethread
11:23
is anyone else like certain that trump will win
ambitiouslizard
11:23
he aint winning
triplethread
11:23
i like being a pessimist
ambitiouslizard
11:24
he lost his re-election, why would he win this one?
1a2b3c4d26z
11:25
I have no idea why people have so much beef w berkeley's app
I've been reading a bit about "herding," which is this idea that pollsters are making the race look tied so they look right no matter who wins.
1a2b3c4d26z
11:26
Like... it's a more involved app but you don't have to do it? They're clearly trying to have some self-selection go on
I 100% agree with the self selection, I also am not even close to touching the medians there. However I think the huge PS plus the video and especially the very specific criteria for the why Berkeley essay is pretty crazy
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