Strategic Consultant
LIBOR has been an endangered species for some time now. LIBOR, the rate that banks charge each other to borrow money, is slated to go by the wayside in 2021 and taking its place for USD will be something called the Secured overnight financing rate, or SOFR. Almost every part of the financial world is touched by LIBOR; it is plausibly the world's most important number.
In 1648, the Dutch water authority issued a bond to fund dyke reconstruction, a crucial measure for flood-prone Netherlands. Yale University now holds the bond, earning annual interest of 11.34 euros. Recently, Yale discovered and collected 136.20 euros in back interest, showcasing the enduring nature of financial commitments and historical continuity.
Indrajit Roy Choudhury 