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Interbank rate apply to loans between banks. These loans are not secured by collateral, so a lender rely exclusively on the borrower’s creditworthiness to estimate the lender's capacity to repay the loan. The international market uses two interbank market benchmarks: the first is the London interbank offered rate (LIBOR) is determined daily and represents the average price at which major banks are willing to lend to each other. The second is the The Euro Interbank Offered Rate (Euribor) is a daily reference rate, published by the European Money Markets Institute (Eurozone banks).
Source: Bank of Ghana
