About Salman Khan
Salman Khan is the Founder, Executive Director, and Faculty of the Khan Academy, whose mission is to provide a free world-class education to anyone, anywhere. He has worked for both hedge funds and Fortune 500 companies and holds an MBA from Harvard Business School, where he was the president of his class. He also attended MIT, where he received three degrees: a Masters in Electrical Engineering & Computer Science, a B.S. in Electrical Engineering & Computer Science, and a B.S. in Mathematics.More Topics Explained
About CNBC Explains
CNBC Explains dissects the complicated economics of our world — everything from stocks and corporate balance sheets, to international trade and government policy. We are pleased to feature the work of Salman Khan, founder of the Khan Academy, as well as the reporting of CNBC anchors and editors. Each short video explains a complex topic using a unique digital interface and easy-to-understand style that simplifies even the most arcane topics.
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LIBOR: CNBC Explains
Published:
Thursday, 16 Jun 2011 | 9:33 AM ET
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By: CNBC Explains
If you’ve read financial news in the last few years, you’ve come across the term LIBOR. LIBOR is the London InterBank Offered Rate, a key interest rate used by banks for short-term lending with other banks. For those who are fuzzy on the topic, Salman Khan of the Khan Academy explains what LIBOR is and how it is used.
From this video, you’ll understand:
- How LIBOR is calculated
- How this differs from the Federal Funds Rate
- Why banks use LIBOR
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