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London Interbank BID (LIBID) rate
Definition
Interest rate
at which London
banks
are willing to borrow from one another in the inter-bank
market
.
LIBID
is the
average
of
rates
which five major London banks willing to
bid
for a $10
million
deposit
for a
period
of three or six
months
. See also
London Interbank Offered Rate (LIBOR)
.
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