Detail Cleaning up LIBOR: Inter-Bank Interest Rates   Oleh:  [s.n] Jenis: Article from Bulletin/Magazine Dalam koleksi: The Economist (http://search.proquest.com/) vol. 403 no. 8781 (Apr. 2012), page 20. Topik: Financial Services; Economic Policy; Central Banks; Interest Rates Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.71 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel It is among the most important prices in finance. So allegations that LIBOR (the London inter-bank offered rate) has been manipulated are a serious worry. LIBOR is meant to be a measure of banks' own borrowing costs, and is used as the foundation for a host of other interest rates. Everyone is affected by LIBOR: it influences the payments made on mortgages and personal loans, and those received on investments and pensions. Given its importance, the way LIBOR is calculated is astonishingly flimsy. LIBOR rates are needed, every day, for 15 different borrowing maturities in ten different currencies. But hard data on banks' borrowing costs are not available every day, and this is the root of the LIBOR problem. The British Bankers' Association (BBA), responsible for LIBOR, gets around it by asking banks, each day, what they feel they should pay to borrow. So LIBOR rates--and the returns on $360 trillion of financial contracts related to them, five times global GDP--are based on best guesses rather than hard data. In theory, a single bank should not be able to influence LIBOR. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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