TIBOR

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Tokyo Interbank Offered Rate.

There are two types of TIBOR: JPY TIBOR and Euroyen TIBOR.

The underlying market for JPY TIBOR is the Japan unsecured market.

JPY TIBOR is widely used as a base rate for bank loans in Japan including syndicated loans.


Euroyen TIBOR's underlying market is the Japan Offshore Market (in which financial institutions including banks and non-residents execute JPY transactions).

Euroyen TIBOR is mainly used for derivatives and is not used as often for loan transactions.


Not to be confused with JPY LIBOR.


See also