Inside the Currency Market: Mechanics, Valuation, and Strategies

BBA and LIBOR

It should be noted the importance of the LIBOR. A LIBOR number is tied to a vast majority of the world's markets in terms of mortgages, consumer loans, student loans, investments, and savings that the release of LIBOR is so vital to the continued maintenance of the financial system. For this reason, the BBA guards this number jealously. It is important for market professionals to obtain a true number, a true release, so a valid financial decision can be rendered. The figure released is a tradeable rate in the interbank and money markets. The major data vendors around the world are the most reliable sources, such as Thomson Reuters and Bloomberg, because of their worldwide operations and their ability to report up-to-the-second events. ...