Bank of Lithuania refashions calculation for interbank lending rate
The Bank of Lithuania (BoL) on Friday announced a new procedure for calculating average interbank interest rates, intended to enable a more accurate reflection of market conditions.
Lithuania's Vilibor (Vilnius Interbank Offered Rate) – the benchmark rate at which the country's lenders borrow from each other – will "from now on... be calculated according to highly rated banks' quotes (interest rates)," the BoL said in a statement, adding that the old calculation methodology no longer met
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