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Reference point

机译:参照点

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IN THE FINANCIAL world, LIBOR is a staggeringly important number. The London Interbank Offered Rate-supposedly the rate at which banks can borrow unsecured from one another-is the benchmark for interest rates on around $26otrn-worth of derivatives, loans and more. Over $200trn-worth is in dollars. But the number's number is up. An ever-thinner underlying market and a rate-fixing scandal have prompted regulators to seek replacements. Britain's Financial Conduct Authority has told banks that they need no longer supply estimates of their borrowing costs, on which LIBOR is based, after the end of 2021. Regulators everywhere would like markets to switch to overnight interest rates.
机译:在金融界,LIBOR是一个非常重要的数字。伦敦银行间同业拆借利率(London Interbank Offered Rate)(假设银行可以相互无抵押借贷的利率)是价值约26美元的衍生品,贷款等的利率基准。价值超过200 trn美元。但是这个号码已经到了。不断变化的基础市场和固定利率丑闻促使监管机构寻求替代方案。英国金融市场行为监管局(FCA)告诉银行,在2021年底之后,它们不再需要提供伦敦银行同业拆借利率所依据的借贷成本估算。各地监管机构都希望市场转向隔夜利率。

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    《The economist》 |2019年第9127期|67-68|共2页
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