London InterBank Offered Rate

The former full name of the former reference rate commonly abbreviated to LIBOR.

LIBOR ended in September 2024.

The end of LIBOR

"Yesterday, 30 September 2024, the remaining synthetic LIBOR settings were published for the last time and LIBOR came to an end. All 35 LIBOR settings have now permanently ceased.

The transition away from LIBOR, once referenced in an estimated $400 trillion of financial contracts, has made financial markets safer, more stable and fit for modern use. UK regulators, their international counterparts and market participants have worked together over the past decade to move to risk-free rates (“RFRs”), based on robust data.

Synthetic LIBOR was a temporary bridge to give firms more time to move outstanding legacy LIBOR-linked contracts towards alternative RFRs, allowing for an orderly cessation."

Press release - Bank of England - 1 October 2024.

See also

• Bank of England
• InterBank Offered Rate
• LIBID
• LIBOR

Other resource

• The end of LIBOR - Press release - Bank of England - 1 October 2024