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In the present paper, an empirical study of LIBOR (London Interbank Offered Rate) data is presented. In particular, a data set of interest rates from 1997 to 1999, for two different currencies and various maturities, is analyzed. It turns out that the random behavior of the daily increments

EIRR – economic internal rate of return ha – hectare IA – implementing agency ICB – international competitive bidding IEE – initial environmental examination IR – Indian Railways km – kilometer kph – kilometers per hour LCB – local competitive bidding LIBOR – London interbank offered rate LRDSS

This paper investigates the effectiveness of one of the Federal Reserve’s unconventional monetary policy tools, the term auction facility (TAF). At issue is whether the TAF reduced the spread between the London interbank offered rate (LIBOR) rates and equivalent-term Treasury rates by reducing

FIRR – financial internal rate of return IA – implementing agency I&I – inflows and infiltration ICB – international competitive bidding IEE – initial environmental examination IRAP – institutional reform action plan LCB – local competitive bidding LIBOR – London interbank offered rate

The purpose of this paper is to determine whether Federal Reserve settlement effects have also appeared in the overnight London interbank offer rate (LIBOR) since the Federal Reserve removed the reserve requirements on Eurocurrency liabilities. 1 We begin by explaining why this is an important

This paper presents preliminary findings and is being distributed to economists and other interested readers solely to stimulate discussion and elicit comments. The views expressed in this paper are those of the authors and do not necessarily reflect the position of the Federal Reserve Bank of New York or the Federal Reserve System. Any errors or omissions are the responsibility of the authors.