Which of the following statements are TRUE?

LIBOR is:

Select one or more:

a. A fixed rate of interest rate agreed bilaterally between two banks

b. A variable market rate that reflects the average interest rate that banks will lend to each other for a specified period of time

c. A regulated interest rate set by the International Swaps Dealer Association every 6 months

d. A benchmark interest rate used by parties in a swap contract to determine the amount of the floating rate payments