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GBP LIBOR
An Introduction to GBP LIBOR
GBP LIBOR stands for Pound Sterling LIBOR. It is the set of LIBOR indices that depict the cost of interbank loans in the United Kingdom’s currency. LIBOR is a collection of 15 different maturities, such as 1-Month LIBOR, 3-Month LIBOR and 6-Month LIBOR, measured in 10 different currencies including the British Pound Sterling, the US Dollar, the Japanese Yen and the Euro.
GBP LIBOR: The Contributor BanksGBP LIBOR is calculated based on the rate submissions of contributor banks, institutions that are chosen for each designated currency by the British Bankers’ Association (BBA). Contributor banks win their appointments by:
1. Scale of market activity
2. Reputation and;
3. Perceived expertise in the currency concerned.
Contributor bank panels vary from eight to 16 members. Each GBP LIBOR rate is a filtered average of rates obtained from the inputs comprising the middle two quartiles of submitted rates. This method deliberately excludes high and low extremes to create a more balanced and accurate calculation.
GBP LIBOR Contributor Banks:Abbey National
Bank of America
Bank of Tokyo-Mitsubishi UFJ Ltd
Barclays Banks plc
BNP Paribas
Citibank NA
Deutsche Bank AG
HSBC
JP Morgan Chase
Lloyds Banking Group
Mizuho Corporate Bank
Royal Bank of Canada
Royal Bank of Scotland Group
UBS AG
WestLB AG