The key LIBOR rate for credit markets is going to be modernized. City of London, New York Wall Street and regulators on both sides of the Atlantic are seeking a compromise in defining rules for calculating the global interbank rate systemic for institutionalized global usury. LIBOR replacement is planned for next year.
LIBOR (London Interbank Offered Rate) – the initial rate that is used on the interbank market, as well as in international commercial agreements to determine the interest on borrowed money. It was adopted in the 84th year and since then has not undergone any special changes.
LIBOR is set daily by the British Banking Association (BBA) for loans in ten currencies. Survey data from 16 largest banks are used to determine the rate. Every day in the morning, banks inform about the rates at which loans in foreign currency are provided. In this case, the four highest and four lowest rates are cut off, and the arithmetic average is calculated for the remaining eight. She becomes the rate of the day. The rate is calculated both for a day, that is, until 12:00 of the next business day, and for weeks, months and a year. Continue reading
The problem of counterfeit money circulating on the territory of Russia, before the Russian law enforcement officers is quite acute. In 2013, the total number of fakes discovered by the Central Bank of the Russian Federation exceeded 13 thousand units. This figure has decreased compared to the previous year, but the situation is complicated by the increase in the quality of the fakes themselves. Most often last year, five thousandth notes were faked.
According to the Central Bank of Russia, in the fourth quarter of 2013, 13,018 counterfeit five thousandth banknotes and 4454 counterfeit banknotes with a face value of 1,000 rubles were identified. and 1465 fake banknotes with a face value of 500 rubles.
The final indicators say that in 2013, Russian banks identified 71,433 counterfeit banknotes of the Bank of Russia, which is 18.9% less than in 2012 (88,029 banknotes). At the same time, in the fourth quarter of 2013, banks identified 19149 counterfeit banknotes, which is 20.2% less than in the fourth quarter of 2012. Continue reading