How many of the following statement(s) is(are) not correct about the LIBOR rate?

• LIBOR stands for London Interbank Offered Rate.
• The type of loans LIBOR is the interest rate of are denominated in British Pounds.
• The type of loans LIBOR is the interest rate of are unsecured loans.
• LIBOR is not only used by banks in London.
• LIBOR is an interest rate for long term loans.

Group of answer choices

2

1

0

3