It is an index used on ARM loans that is based on the base interest rate on deposits between banks in the Eurodollar market.
The Libor (London Interbank Offered Rate) Index is the daily average of interbank offered rates for six-month U.S. dollar-denominated deposits as published in the Wall St. Journal.
An index that is used to determine interest rate changes for certain ARM plans. It represents the average rate for 6-month U.S. dollar-denominated deposits in the London market based on quotations of major banks. LIBOR is an acronym for "London Interbank Offered Rate."
The LIBOR Index is based on the one-month LIBOR rate as published in the "Money Rates" section of The Wall Street Journal. The Index will be determined at the beginning of each calendar quarter, and will equal the average of the one-month LIBOR rates published on the first business day of each of the three (3) immediately preceding calendar months.
An ARM rate adjusts at scheduled intervals according to an index. Each ARM is tied to an index. The LIBOR (London Inter-Bank Offering Rate) Index is the average of inter-bank offered rates for 6-month U.S. dollar–denominated deposits in the London market. Most major indexes are published in the Wall Street Journal.
The London Interbank Offered Rate Index is the average yield of interbank offered rates for one-year U.S. dollar-denominated deposits in the London Market, as published in The Wall Street Journal.
The London Interbank Offered Rate. It is the index used for Eurodollar deposits traded between banks. A relatively stable rate, the LIBOR is a popular choice as an index for ARM.
London Interbank Offered Rates, which is the average rate of interest that major London banks are willing to pay each other for U.S. dollar deposits for various terms.
