London Interbank Offered Rate (LIBOR) Current Affairs, GK & News

RBI asks banks to stop Libor soon

Reserve Bank of India (RBI) issued an advisory to banks and other financial institutions to be prepared for year-end transition from London Interbank Offered Rate (Libor). Transition from Libor Global transition from Libor became necessary because banks were manipulating rate in 2007-08. Following the incident, investigation was led by Financial Services Authority (FSA) of Britain. ..

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SBI and IOCL to ink India’s First Libor Alternative Rate Deal

The State Bank of India (SBI) and Indian Oil Corporation Limited (IOCL) will be sign the first Secured Overnight Financing Rate (SOFR) linked external commercial borrowing (ECB) deal. The deal will be signed because the de facto international benchmark reference rate called the London Interbank Offered Rate (LIBOR) will no longer work as the benchmark ..

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