Libor Scandal

• The LIBOR scandal involved collusion by traders and submitting banks to manipulate the London Interbank Offered Rate (LIBOR), a key benchmark used to…

Libor Curve

Key takeaways – The LIBOR curve is the term structure (yield curve) of London Interbank Offered Rate (LIBOR) quotes across short-term maturities—typically overnight, 1…

Liberty Bond

A Liberty Bond (or Liberty Loan) was a U.S. government debt security issued during and immediately after World War I to help finance American…

Liar Loan

A “liar loan” is a mortgage in which the lender requires little or no documentation of a borrower’s income and/or assets and therefore does…

Liars Poker

Liar’s Poker is a betting-and-bluffing game played with the digits in U.S. dollar-bill serial numbers. It became popular among traders on Wall Street in…

Liability Insurance

Liability insurance (also called third‑party insurance) protects individuals and businesses from financial loss when they are legally responsible for injury to other people or…

Levered Free Cash Flow Lfcf

• Levered Free Cash Flow (LFCF) is the cash remaining to equity holders after a company has met its operating needs, reinvested in the…

Leveraged Recapitalization

1) What is a leveraged recapitalization? – Definition: A leveraged recapitalization (or leveraged recap) is a transaction in which a company materially changes its…

Leveraged Loan

Key takeaways – A leveraged loan is a senior, typically secured loan made to a borrower with elevated leverage or a below‑investment‑grade credit profile.…

Leveraged Lease

What is a leveraged lease? – A leveraged lease is a leasing arrangement in which the lessor finances most of the asset purchase with…