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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 ...
The London Interbank Offered Rate, or LIBOR—one of the most widely-recognized interest rate benchmarks of the past 37 years—will officially be retired today. The London Interbank Offered Rate, or ...
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