LIBOR: Origins, economics, crisis, scandal, and reform

Arbeitspapier

The London Interbank Offered Rate (LIBOR) is a widely used indicator of funding conditions in the interbank market. As of 2013, LIBOR underpins more than $300 trillion of financial contracts, including swaps and futures, in addition to trillions more in variable-rate mortgage and student loans. LIBOR's volatile behavior during the financial crisis provoked questions surrounding its credibility. Ongoing regulatory investigations have uncovered misconduct by a number of financial institutions. Policymakers across the globe now face the task of reforming LIBOR in the aftermath of the scandal and crisis.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Staff Report ; No. 667

Classification and Topics

• Classification: Wirtschaft ; Financial Crises ; Asset Pricing; Trading Volume; Bond Interest Rates ; International Financial Markets ; General Financial Markets: Government Policy and Regulation ; Banks; Depository Institutions; Micro Finance Institutions; Mortgages ; Interest Rates: Determination, Term Structure, and Effects
• Subject: LIBOR ; financial crisis ; scandal ; interbank ; banking ; reference rate ; interest rate

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Hou, David ; Skeie, David
• Event: Veröffentlichung
• (who): Federal Reserve Bank of New York
• (where): New York, NY
• (when): 2014

Further information

• Handle: http://hdl.handle.net/10419/120778
• Last update: 10.03.2025, 11:44 AM CET