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In other words there is no basis for libor.
by throw2016 9y ago
In other words there is no basis for libor.
- c3534l 9y agoWhat do you mean by "no basis"? I suspect to you it means something like "too abstract" or "not good enough"?
- JumpCrisscross 9y ago> In other words there is no basis for libor No, there is a basis. The regulator Taibbi cites speaks competently about this [1]; the least actively-traded currency-tenor traded only about once a month. (Every other currency-tenor traded more often.) That may be a fine frequency for 6-month wholesale interbank rates in Danish krona (which, until recent reforms, was one of the currencies Libor was quoted for [2]). But turning it into a daily rate with three decimal places of precision is silly. [1] https://www.fca.org.uk/news/speeches/the-future-of-libor https://www.fca.org.uk/news/speeches/the-future-of-libor [2] https://en.wikipedia.org/wiki/Libor#Currency https://en.wikipedia.org/wiki/Libor#Currency