RIGIBOR
Encyclopedia
RIGIBOR stands for the Riga
Interbank Offered Rate and is a daily reference rate
based on the interest rate
s at which bank
s offer to lend unsecured funds to other banks in the Latvia
wholesale money market
(or interbank market
). RIGIBOR is published daily by the National Bank of Latvia together with RIGIBID (Riga Interbank Bid Rate).
Riga
Riga is the capital and largest city of Latvia. With 702,891 inhabitants Riga is the largest city of the Baltic states, one of the largest cities in Northern Europe and home to more than one third of Latvia's population. The city is an important seaport and a major industrial, commercial,...
Interbank Offered Rate and is a daily reference rate
Reference rate
A reference rate is a rate that determines pay-offs in a financial contract and that is outside the control of the parties to the contract. It is often some form of LIBOR rate, but it can take many forms, such as a consumer price index, a house price index or an unemployment rate...
based on the interest rate
Interest rate
An interest rate is the rate at which interest is paid by a borrower for the use of money that they borrow from a lender. For example, a small company borrows capital from a bank to buy new assets for their business, and in return the lender receives interest at a predetermined interest rate for...
s at which bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
s offer to lend unsecured funds to other banks in the Latvia
Latvia
Latvia , officially the Republic of Latvia , is a country in the Baltic region of Northern Europe. It is bordered to the north by Estonia , to the south by Lithuania , to the east by the Russian Federation , to the southeast by Belarus and shares maritime borders to the west with Sweden...
wholesale money market
Money market
The money market is a component of the financial markets for assets involved in short-term borrowing and lending with original maturities of one year or shorter time frames. Trading in the money markets involves Treasury bills, commercial paper, bankers' acceptances, certificates of deposit,...
(or interbank market
Interbank market
The interbank market is the top-level foreign exchange market where banks exchange different currencies. The banks can either deal with one another directly, or through electronic brokering platforms. The Electronic Broking Services and Thomson Reuters Dealing 3000 Xtra are the two competitors in...
). RIGIBOR is published daily by the National Bank of Latvia together with RIGIBID (Riga Interbank Bid Rate).