The London Interbank Bid Rate (LIBID) is a bid rate; the rate bid by banks on Eurocurrency deposits (i.e. , the rate at which a bank is willing to borrow from other banks). It is "the opposite" of the LIBOR (an offered, hence "ask" rate). Whilst the British Bankers' Association set LIBOR rates, there is no correspondent official LIBID fixing.

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  • The London Interbank Bid Rate (LIBID) is a bid rate; the rate bid by banks on Eurocurrency deposits (i.e. , the rate at which a bank is willing to borrow from other banks). It is "the opposite" of the LIBOR (an offered, hence "ask" rate). Whilst the British Bankers' Association set LIBOR rates, there is no correspondent official LIBID fixing. Conventional wisdom used to assert that a LIBID rate could be calculated by subtracting a fixed amount (often given as ⅛th of 1%) from the prevailing BBA LIBOR rate, however this is no longer the case as bid/offer spreads have tightened in recent years. Additionally, it cannot be the case that the the LIBOR / LIBID spread is always ⅛th of 1% for all maturities and all currencies all the time.
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  • The London Interbank Bid Rate (LIBID) is a bid rate; the rate bid by banks on Eurocurrency deposits (i.e. , the rate at which a bank is willing to borrow from other banks). It is "the opposite" of the LIBOR (an offered, hence "ask" rate). Whilst the British Bankers' Association set LIBOR rates, there is no correspondent official LIBID fixing.
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  • London Interbank Bid Rate
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