This data series was discontinued on December 31, 2021. Please refer to the FRED (https://news.research.stlouisfed.org/2021/12/libor-series-discontinued/) or ICE (https://ir.theice.com/press/news-details/2021/ICE-Benchmark-Administration-Provides-Update-Regarding-LIBOR-Cessation-and-Synthetic-LIBOR/default.aspx) announcements for additional information regarding the nature of this cessation. London Interbank Offered Rate is the average interest rate at which leading banks borrow funds of a sizeable amount from other banks in the London market. Libor is the most widely used "benchmark" or reference rate for short term interest rates In consideration for ICE Benchmark Administration Limited ("IBA") coordinating and the Libor Contributor Banks supplying the data from which ICE LIBOR is compiled, the subscriber acknowledges and agrees that, to the fullest extent permitted by law, none of the IBA or the LIBOR Contributor Banks: (1) accept any responsibility or liability for the frequency of provision and accuracy of the ICE LIBOR rate or any use made of the ICE LIBOR rate by the subscriber, whether or not arising from the negligence of any of IBA or the LIBOR Contributor Banks; or (2) shall be liable for any loss of business or profits nor any direct, indirect or consequential loss or damage resulting from any such irregularity, inaccuracy or use of the Information. Copyright, 2016, ICE Benchmark Administration.