Libor is a benchmark computed from what banks merely report

Evidence

Libor The London interbank offered rate: the average rate of interest at which a panel of major banks report other banks as being prepared to lend them funds in a particular currency for a particular period. Other interest rates are often set with Libor as the benchmark. — Donald MacKenzie, An Engine, Not a Camera, 1341

Categorization

• XREF: Libor’s self-reported, non-transactional basis is the classic performativity case: the reported rate shaped the very loans it claimed to measure. — connects to: Expert consensus reports codify what banks can get away with rather than genuine reform — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 539
• QUESTION: Useful to chase how the self-referential nature of Libor would figure in the performativity-vs-counters-performativity framework.

Broader Connections

• Expert consensus reports codify what banks can get away with rather than genuine reform #corroborates (0.82) — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 539