What is Libor?

Libor stands for the London Interbank Offered Rate. It is the interest rate at which banks offer to lend funds (wholesale money) to one another in the international interbank market.  Libor is a key benchmark rate that reflects how much it costs banks to borrow from each other. It is the reference rate for about $350tn of financial products, ranging from interest rate swaps and corporate loans to credit cards, mortgages and savings accounts. Precise details relating to the LIBOR setting can be found at https://www.theice.com/iba/libor

Capital at risk. No FSCS cover. See Risk Statement.