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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 ...
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Here’s how the Secured Overnight Financing Rate works and why it might matter for your mortgageRemember Libor? For decades, the London interbank offered rate was the benchmark for pricing a wide variety of loans, including adjustable-rate mortgages. But over recent years, it’s been ...
According to a recent U.K. Treasury report, $300 trillion in financial contracts are tied to LIBOR—and that doesn’t include rates on uncounted tens of billions of dollars of adjustable rate home ...
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