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1.Approximately, what is the total notional dollar value of global financial instruments that are referenced to the LIBOR interest rate? 2. Explain how the daily

1.Approximately, what is the total notional dollar value of global financial instruments that are referenced to the LIBOR interest rate?

2. Explain how the daily LIBOR rate was determined when LIBOR was under the supervision of the BBA (British Bankers Association).

Note: LIBOR is no longer under the supervision of the BBA, LIBOR is currently under the supervision of ICE (Intercontinental Exchange).

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