Definition of Tibor
The Tokyo interbank offered rate is the daily reference rate based on the interest rates at which banks offer to lend unsecured funds to other banks in the Japan wholesale money market.
Tibor in the news
In March 2011, UBS became the first bank to disclose that it was under investigation for attempted manipulation of Libor. It had already reached a deal with Japanese regulators to settle allegations that its traders attempted to manipulate Tibor, the Tokyo-based benchmark