Concern was recently expressed in the UK on the use of credit sensitive rates in financial instruments geared towards less sophisticated borrowers. Since the complex and relatively opaque risks may ...
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What was the LIBOR rate, and what happened to it?
LIBOR set interest rates for trillions of dollars in loans for over 30 years. Banks manipulated the rate because it relied on estimates rather than real transactions. A new system called SOFR replaced ...
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