Gilt-Edged Market

L

Leverage: The ability to control large amounts of an underlying variable for a small initial investment.

Liability: Probable future sacrifice of economic benefit due to present obligations to transfer assets or

provide services to other entities as a result of past events or transactions. Generally classed as either

current or long-term.

LIBID: The London Interbank Bid Rate, the rate at which banks will pay for funds in the interbank

market.

LIBOR: The London Interbank Offered Rate, the lending rate for all major currencies up to one year set

at 11am each day by the British Bankers Association.

Libor fixing: The Libor rate ``fixed'' by the British ...