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In 2023, a benchmark named for this city was discontinued following a decade-long campaign that stressed how it was frequently manipulated due to its limited panel of data. For 10 points each:
[10m] Name this city that formerly named an “Inter-Bank Offered Rate.” This city’s landmarks include a building on Threadneedle Street home to an institution formerly governed by Mark Carney.
ANSWER: London (The institution is the Bank of England.)
[10h] The London Inter-Bank Offered Rate, or LIBOR (“lie-bor”), was crucial for derivatives trading, particularly in this type of forward contract that typically involves the exchange of fixed and floating payment streams.
ANSWER: interest rate swap [accept basis swap; prompt on swap]
[10e] The adjustable-rate examples of this other financial instrument also rely strongly on LIBOR and SOFR. The 2007 crisis of subprime examples of this instrument was facilitated by poorly-regulated collateralized debt obligations.
ANSWER: mortgages [or mortgage loans; accept adjustable-rate mortgage; accept subprime mortgage crisis]
<Social Science>

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Data

Cambridge BCambridge A1001020
Cambridge COxford C1001020
Durham AImperial B1001020
Imperial AEdinburgh1001020
KCLSheffield001010
KielBristol1001020
Oxford BDurham B1001020
WarwickOxford A1001020