LIBOR (London Interbank Offered Rate) or ICE LIBOR

An interest rate at which banks can borrow funds, in marketable size, from other banks in the London interbank market. The LIBOR is fixed on a daily basis by the ICE Benchmark Administration. The LIBOR is derived from a filtered average of the world?s most creditworthy banks? interbank deposit rates for larger loans with maturities between overnight and one year.