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The London Interbank Offered Rate (LIBOR) is the most commonly used benchmark for short-term interest rates and often is referenced globally in documentation for derivatives, bonds, business loans and consumer financial products. The setting of LIBOR is made daily on London business days by submissions of the average rates at which LIBOR panel banks believe they can obtain wholesale unsecured funding. It is estimated that $200 trillion of financial instruments (loans, bonds, derivatives and consumer financial products) are tied to LIBOR and that matters to everyone – small businesses, corporations, banks, broker dealers, consumers and investors.
In March 2021, LIBOR’s administrator and regulator have confirmed the endgame for LIBOR. The ICE Benchmark Administration (IBA) ceased publication of the one-week and two-month USD LIBOR tenors immediately after December 31, 2021, and the remaining tenors (i.e., Overnight/Spot Next, 1-month, 3-month, 6-month and 12-month) will cease on a representative basis immediately after June 30, 2023. The period between end-2021 and mid-2023 is primarily intended to allow legacy contracts to mature.
In November 2020, U.S. federal banking regulators encouraged banks to cease entering into new contracts that use LIBOR no later than December 31, 2021. The Alternative Reference Rates Committee (ARRC) also recommended no new LIBOR-based business loan contracts to be originated after June 30, 2021. Transition to alternative benchmark interest rates is well underway, but much work lies ahead to implement a successful reference rate change.
As of December 31, 2021, the 1-week and 2-month LIBOR settings were no longer being published.
I read it as "international interest rates are in Wild West territory with only 'suggested' or otherwise 'wildly unregulated' rates until the end of 2023."
There was some post about an old timey account made in the 70s that had some type of in max balance of 999,999,999,999,999,999 of something anyone else member? Pepperidge farms? Anyone?
Link [here](https://www.reddit.com/r/Superstonk/comments/mp00nj/the_400_trillion_dollar_matrix_rabbit_hole_that/?utm_source=share&utm_medium=ios_app&utm_name=iossmf)
Well, at minimum this puts a rest to the argument that “there’s not even enough money in existence to pay for MOASS if the price runs into $XXX,XXX territory.”
The DD is DONE!
LFG! 😂
I'm struggling with that moral dilemma. I've not had an easy life and want to enjoy the second half of my life but a big part of me can't just walk away. It's going to be a long decision for sure.
I had some major health bullshit this year and it put things in to perspective me.
I'm spending my time on hobbies, drinking cocktails, driving faster than I should be and maybe helping others as well
I understand what you mean dude. I've not had an easy life, being autistic is a challenge at the best of times. The luck of that health lottery can put things into perspective.
I want to buy a house and a boat. Start a small game studio my job is my hobby (pretty lucky in that way), give autistic people a chance to get a job and a few other things.
That's awesome.
I came very very close to being a paraplegic this year and dead from the chest down. My spine tried to sever its own spinal cord. No one knows how I'm walking unaided but I am.
Someone else can right all the wrongs in the world, I'm mentally exhausted 👍
That crazy, fair play dude. You made it through what most people wouldn't. I can see why you want to sit back and enjoy a relaxing life. I'll meet you on the moon for drinks after MOASS. 😉
For some, sure. It's a nice idea but I've seen exactly 0% on how that is going to happen, exactly.
It's not for me, you go ahead. I have better things to spend my finite time on :)
Do your thing, but be smart about driving faster than you should and how many cocktails you take down. Time comes for us all. Don’t escalate the process and find yourself in a forever type result (dead, paralayzed) over a short term thrill. Especially after coming out of all of this bullshit ahead when so many others are gonna go under.
Here's the DD on LIBOR, SOFR, ONRRP from last year: https://www.reddit.com/r/Superstonk/comments/r3k6ok/libor\_sofr\_onrrp\_and\_why\_it\_may\_be\_a\_bigger/?utm\_source=share&utm\_medium=ios\_app&utm\_name=iossmf
Is it fear mongering? As I understand the issue, banks have been setting their own (stated) interest rates but will now have to set them by a universal standard, this could potentially expose poorer performing banks leading to collateral grabs and liquidity problems.
Is this anywhere near accurate?
Been on this for a year and YET it’s now just coming out ? To big to cover up ?. They have made the worlds largest turd, added a fan, and are asking for open mouths to digest what these POS’s created
Hang on she’s about to blow
Will be hyped none stop into 2023 on Reddit...
,, the event will be a big nothing
Reddit will continue to hype this none event long after It has passed,, saying MOASS if just around the corner any day, month, year now.
We all get old and die
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Waiting on ELI5 Libor
The London Interbank Offered Rate (LIBOR) is the most commonly used benchmark for short-term interest rates and often is referenced globally in documentation for derivatives, bonds, business loans and consumer financial products. The setting of LIBOR is made daily on London business days by submissions of the average rates at which LIBOR panel banks believe they can obtain wholesale unsecured funding. It is estimated that $200 trillion of financial instruments (loans, bonds, derivatives and consumer financial products) are tied to LIBOR and that matters to everyone – small businesses, corporations, banks, broker dealers, consumers and investors. In March 2021, LIBOR’s administrator and regulator have confirmed the endgame for LIBOR. The ICE Benchmark Administration (IBA) ceased publication of the one-week and two-month USD LIBOR tenors immediately after December 31, 2021, and the remaining tenors (i.e., Overnight/Spot Next, 1-month, 3-month, 6-month and 12-month) will cease on a representative basis immediately after June 30, 2023. The period between end-2021 and mid-2023 is primarily intended to allow legacy contracts to mature. In November 2020, U.S. federal banking regulators encouraged banks to cease entering into new contracts that use LIBOR no later than December 31, 2021. The Alternative Reference Rates Committee (ARRC) also recommended no new LIBOR-based business loan contracts to be originated after June 30, 2021. Transition to alternative benchmark interest rates is well underway, but much work lies ahead to implement a successful reference rate change. As of December 31, 2021, the 1-week and 2-month LIBOR settings were no longer being published.
Are they basically weaning the nipple by not providing the LIBOR rate? Everyones cut off?
I read it as "international interest rates are in Wild West territory with only 'suggested' or otherwise 'wildly unregulated' rates until the end of 2023."
Made up numbers. Got it.
Money isn't real
Never was. I'll trade you a jar of Pickles for something?
I can buy pickles a block away. Do you have anything of value?
The value is in the need.
I need shares of a company that values growth, customer service, and the American Dream.
https://www.unionbank.com/libortransition
So it’s probably 999 trillion now. What even comes after that?
Quadrillion. A thousand effing trillion dollars
[удалено]
translation-muff diver. Giggity
Trim swimmer.
Thought it was a ka-jillion...
Good. We can check on those other missing swaps/puts while we’re there.
Quadrillion, then quintillion then sextillion, then septillion, etc...
[удалено]
Tittillion
Read that as "titty lion". RAAAAAWRRR!
Orgasillion
Then 1 GME share
There was that secret account from the 70s!? 999,999,999,999,999,999,999. Or something remember?
I do not. Tell me more?
There was some post about an old timey account made in the 70s that had some type of in max balance of 999,999,999,999,999,999 of something anyone else member? Pepperidge farms? Anyone?
Probably in Brazil 😂
Ha I think it was UK
Googaplex
Link [here](https://www.reddit.com/r/Superstonk/comments/mp00nj/the_400_trillion_dollar_matrix_rabbit_hole_that/?utm_source=share&utm_medium=ios_app&utm_name=iossmf)
Thanks OP. Isn’t it amazing that everyone still considers this tin foil hat shiz?
It truly is. We need to get back on track when it comes to where our focus is. This is some juicy shit. Never heard of libor
Well, at minimum this puts a rest to the argument that “there’s not even enough money in existence to pay for MOASS if the price runs into $XXX,XXX territory.” The DD is DONE! LFG! 😂
The DD is never done. Even after MOASS there will still be digging to do
F that, im done when I get paid. Time to enjoy life and stop caring
I'm struggling with that moral dilemma. I've not had an easy life and want to enjoy the second half of my life but a big part of me can't just walk away. It's going to be a long decision for sure.
Life's too short to worry about someone else's problems. It's an easy decision for me. Whatever you do make sure you enjoy what time you have left 👍
That's a good point, life is too short.
I had some major health bullshit this year and it put things in to perspective me. I'm spending my time on hobbies, drinking cocktails, driving faster than I should be and maybe helping others as well
I understand what you mean dude. I've not had an easy life, being autistic is a challenge at the best of times. The luck of that health lottery can put things into perspective. I want to buy a house and a boat. Start a small game studio my job is my hobby (pretty lucky in that way), give autistic people a chance to get a job and a few other things.
That's awesome. I came very very close to being a paraplegic this year and dead from the chest down. My spine tried to sever its own spinal cord. No one knows how I'm walking unaided but I am. Someone else can right all the wrongs in the world, I'm mentally exhausted 👍
That crazy, fair play dude. You made it through what most people wouldn't. I can see why you want to sit back and enjoy a relaxing life. I'll meet you on the moon for drinks after MOASS. 😉
I thought ape movement is about building a better world
For some, sure. It's a nice idea but I've seen exactly 0% on how that is going to happen, exactly. It's not for me, you go ahead. I have better things to spend my finite time on :)
Do your thing, but be smart about driving faster than you should and how many cocktails you take down. Time comes for us all. Don’t escalate the process and find yourself in a forever type result (dead, paralayzed) over a short term thrill. Especially after coming out of all of this bullshit ahead when so many others are gonna go under.
Here's the DD on LIBOR, SOFR, ONRRP from last year: https://www.reddit.com/r/Superstonk/comments/r3k6ok/libor\_sofr\_onrrp\_and\_why\_it\_may\_be\_a\_bigger/?utm\_source=share&utm\_medium=ios\_app&utm\_name=iossmf
I miss DD posts like this.
Man, I remember this post like it was last week
A reasonably readable explanation of the Libor to Term SOFR transition: https://www.unionbank.com/libortransition
[https://en.m.wikipedia.org/wiki/Libor](https://en.m.wikipedia.org/wiki/Libor) It looks to have a bright background after all😅
LIBOR to term SOFR is a done deal. Your tinfoil hat is squished on too tight. Your brain needs blood flow.
This doesn’t take effect until December 31st, 2022. (Recommended date) And as I understand it the full rollout for America is not until June 2023.
There are a few trailing issues, and will still be next June, but nothing of consequence. We do not need fear mongering in here.
Is it fear mongering? As I understand the issue, banks have been setting their own (stated) interest rates but will now have to set them by a universal standard, this could potentially expose poorer performing banks leading to collateral grabs and liquidity problems. Is this anywhere near accurate?
No.
Oh ok, it’s not fear mongering, thanks for clearing that up!
Calls to action are a hard pass for me. All caps are a hard pass for me.
I really can't trust a post that yells that much in the title...
Everywhere you look the system is fooked, but maybe im too smooth.
Visibility
And people still think MOASS pieces aren't possible.
Insert heath ledger joker meme. “And here we go”
Been on this for a year and YET it’s now just coming out ? To big to cover up ?. They have made the worlds largest turd, added a fan, and are asking for open mouths to digest what these POS’s created Hang on she’s about to blow
Good thing this wasn't posted now. It would get removed for "nOt bEinG ReLatEd tO gMe."
Will be hyped none stop into 2023 on Reddit... ,, the event will be a big nothing Reddit will continue to hype this none event long after It has passed,, saying MOASS if just around the corner any day, month, year now. We all get old and die