London Interbank BID (LIBID) rate,

Definition of London Interbank BID (LIBID) rate:

1. Interest rate at which London banks are willing to borrow from one another in the inter-bank market. LIBID is the average of rates which five major London banks willing to bid for a $10 million deposit for a period of three or six months. See also London Interbank Offered Rate (LIBOR).