Q397
Rate which is used in major banks in United States as a rate for industrial and commercial loans is
A.
London intra bank offered rate
B.
London interbank offered rate
AnswerC.
euro interbank offered rate
D.
demand intra bank rate
Answer: Option B
Solution
Answer: Option B
Solution:
Rate which is used in major banks in United States as a rate for industrial and commercial loans is London interbank offered rate. The London Interbank Offered Rate is the average interest rate at which leading banks borrow funds from other banks in the London market.