Detailed interpretation of libor London Interbank Offer Rates

Raise one's headPopular science: libor (London Interbank Offer Rate) is the interest rate at which banks lend pounds sterling, Eurodollars and other European currencies to each other on London financial marekt. The quoted bank reports it at 11 am every business day, and it is divided into two types: deposit interest rate and loan interest rate. The lending period includes 1 month, 3 months, 6 months and 1 year. Since the early 1960s, this interest rate has become the basic interest rate for London financial marekt lending activities. I noticed that today the London Interbank Offer Rate has become a key interest rate on international financial marekt. Many floating rate financing instruments are also issued with this interest rate as a floating basis and reference.