What is the difference between LIBID and LIMEAN?
What will be an ideal response?
LIBID refers to the bid on LIBOR while LIMEAN is the arithmetic average of LIBOR and LIBID. More details are given below.
LIBOR stands for London interbank offer rate. LIBOR is an important rate in international finance. For example, consider the wide variety of floating-rate Eurobond notes. The coupon rate on a floating-rate note is some stated margin over the London interbank offered rate (LIBOR), the bid on LIBOR (referred to as LIBID), or the arithmetic average of LIBOR and LIBID (referred to as LIMEAN). The size of the spread reflects the perceived credit risk of the issuer, margins available in the syndicated loan market, and the liquidity of the issue. Typical reset periods for the coupon rate are either every six months or every quarter, with the rate tied to
6-month or 3-month LIBOR, respectively; that is, the length of the reset period and the maturity of the index used to establish the rate for the period are matched.
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