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Simple English definitions for legal terms

London Interbank Offered Rate

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A quick definition of London Interbank Offered Rate:

London Interbank Offered Rate (LIBOR) is a daily report that shows the interest rates that big banks charge each other for short-term loans. It is used as a reference for many financial contracts and investments. The rates are calculated for different time periods, up to one year. LIBOR is important because it affects the cost of borrowing money for businesses and individuals.

A more thorough explanation:

The London Interbank Offered Rate (LIBOR) 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.

For example, if a bank in the United States wants to offer a loan in Japanese yen, they may use the LIBOR rate as a benchmark for determining the interest rate on that loan. The LIBOR rate is also used in the pricing of various financial products, such as adjustable-rate mortgages and credit cards.

The LIBOR rate is determined by a panel of banks that report their borrowing costs to the British Bankers Association. The rates are then averaged to create the daily LIBOR rate.

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we’re like cool and sexy and fun I get it
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true i love ur user
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thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
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