The London Interbank Offered Rate (LIBOR) is a widely used indicator of funding conditions in the interbank market. As … of 2013, LIBOR underpins more than $300 trillion of financial contracts, including swaps and futures, in addition to … trillions more in variable-rate mortgage and student loans. LIBOR's volatile behavior during the financial crisis provoked …

The fixing of the Libor and Euribor benchmark rates has proven vulnerable to manipulation. Individual rate-setters may … transactions eligible for submission may reduce the level of manipulation, but can lead to more frequent collusive quoting. …

We investigate if the benchmark transition from London Interbank Offered Rate (Libor) to Secured Overnight Financing … notes (FRNs) provides an ideal laboratory to study these e ects. Comparing the spreads of FRNs linked to LIBOR and SOFR …

We use matched, bank-level panel data on Libor submissions and credit default swaps to decompose bank-funding spreads … the possibility that banks may strategically misreport their funding rates in the Libor survey, we nest our decomposition … within a model of the costs and benefits of lying. We find that Libor spreads typically consist mostly of a liquidity premium …

Interest rate benchmarks are currently undergoing a major transition. The LIBOR benchmark is planned to be discontinued … the LIBOR replacement will most likely be constructed from a compounded running average of RFR overnight rates over a … period matching the LIBOR tenor. This new backward-looking benchmark is markedly different when compared with LIBOR. It is …

We argue that the planned transition toward alternative benchmark rates gives reason to mourn Libor. Guided by a model …

The reform of LIBOR by its administrator IBA to a transaction-based benchmark, completed 2019, has not succeeded due to … lack of transactions. In July 2017 the UK FCA Chief Bailey prepared the market for the end of LIBOR by end-2021. National … working groups have developed alternatives to LIBOR based on overnight Risk-Free Rates. For derivatives linked to LIBOR and …