LIBOR

The London Interbank Offered RateThe posted rate at which prime banks offer to make Eurodollar deposits available to other prime banks. The rateThe pricing factor upon which the insurance buyer's premium is based. of interestThis is the amount that is imposed when payment is remitted after the due date. at which banks borrow funds from other banks, in marketable size, in the London interbank market. LIBOR rates are disseminated by the British Bankers AssociationA group. Often, associations can offer individual health insurance plans specially designed for their members.. Some interest rate futuresFutures contracts traded on fixed income securities such as U.S. Treasury issues, or based on the levels contracts, including Eurodollar futuresSee Futures Contract., are cashMoney or its equivalent (checks, banknotes, etc.). settled based on LIBOR.