The London Interbank Offered Rate (LIBOR) is the dominant interest rate benchmark and plays a central role in the daily dynamics of the financial markets. Financial institutions rely on LIBOR to represent their own funding cost and transfer it to the clients. It is used as a reference rate in more than $400 trillion of financial instruments, from retail, like credit … [Read more...] about LIBOR Has Been the Magic Number in Finance for A Long Time, until Now
Federico Galizia is the Chief Risk Officer at the Inter-American Development Bank (IDB). He advises the President, the Executive Vice President, and the Board of Directors on their oversight of market, credit, socio-environmental, and operational risk, in accordance with the shareholders’ triple-A mandate. A founding member of the Multilateral Development Banks (MDB) CRO Forum, he sponsors implementation of the G20 Action Plan to Optimize MDB Balance Sheets. Federico was previously Head of Risk and Portfolio Management at the European Investment Fund, and Adviser to the President of the European Investment Bank. He holds a Ph.D. in Economics from Yale University and has published and taught MBA courses in the fields of risk management and international finance.