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So why has the LIBOR been in the news recently? Well, it turns out that the LIBOR is calculated not by looking at the supply and demand of actual interbank loans, but instead by asking large banks what they think the LIBOR is. This system isn't necessarily problematic, however, as long as the banks whose opinions determine the LIBOR don't have an incentive to either under or overstate the true rate of interest. Unfortunately, banks have a number of lines of business whose profits are very much affected by interest rates, so there are pretty strong incentives to manipulate these interest rate reports in order to benefit the banks, even when this happens at the expense of others.
PARIS  If there is someone worth holding the start of a runway show for, it would have to be France's first lady of film, Catherine Deneuve, who came gliding into the front row at Lanvin, fashionably late to the party on Thursday night. And what a party it was. Designer Alber Elbaz tripped the light fantastic with a dazzling display of metallic color and shine. The look: Ready for the dance floor. The palette was as colorful as a bowl of cellophane wrapped candy, with metallic copper, gold, fuchsia, red and emerald green.
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Verze z 1. 12. 2014, 09:20